Global Medication Adherence Packaging Market is valued at approximately USD 1.1 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2024-2032. Medication adherence packaging plays a crucial role in ensuring patients comply with their prescribed medication regimens, thereby enhancing their health outcomes. This type of packaging has become essential for effective medication management, particularly for the elderly, children, and individuals with cognitive or physical impairments. Leveraging advanced technologies, medication adherence packaging addresses issues related to non-adherence, boosts patient confidence in managing medications, and improves their overall quality of life.
The market is propelled by the rise in drug addiction, which necessitates compliance-prompting packaging to combat abuse and addiction. Additionally, the growing geriatric population drives the demand for specialized medication packaging designed for elderly patients who are often managing multiple chronic conditions. However, high costs of advanced packaging solutions and regulatory and compliance issues are the key factors that are substantially halting the growth of the market globally. Furthermore, rising technological advancements in smart packaging solutions, such as those using NFC or Bluetooth, are also significantly contributing to market growth.
The key regions considered for the global Medication Adherence Packaging Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Medication Adherence Packaging Market in terms of revenue. The market growth in the region is being attributed to factors including high healthcare costs associated with medication nonadherence. The region benefits from advanced healthcare infrastructure and a growing elderly population. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by the rising geriatric population and increasing healthcare investments.
Major market players included in this report are:
Garlock, an Enpro Industries, Inc.
Flexitallic
Freudenberg Sealing Technologies
James Walker Group
TEADIT
Dana Limited
Trelleborg Group
Klinger Group
ElringKlinger AG
Lamons
The detailed segments and sub-segment of the market are explained below:
By Material Type:
Plastics
Paper and Paperboard
Aluminum
Composite Materials
By System:
Unit-dose Packaging
Multi-dose Packaging
By Technology:
Radio Frequency Identification (RFID)
Near Field Communication (NFC)
Electronic Monitoring Devices
Temperature and Humidity Sensors
Others
By End-use Industry:
Hospitals and Clinics
Retail Pharmacies
Long-term Care Facilities
Home Healthcare Settings
Clinical Trials
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.
