Multi-Med Adherence Packaging Market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue And Regional Forecast To 2023

Summary

Global Multi-Med Adherence Packaging Market Size, Share, Trends, Analysis by Material (Plastic, Paper and Aluminum Foil), By Product (Blister Card and Pouches), by End User (Retail Pharmacies, Hospital, and Long Term Care Facilities) and By Region – Global Forecast To 2023

Multi-Med Adherence Packaging Market Highlights

Improving medication adherence is the primary factor diving the growth of the market. Earlier, pill sorting, had traditionally been consuming and confusing. It simplifies medication programs. Multi-med adherence packaging helps patients take the right pills and the right dose, at the right time. It gives a visual indication of the tablets taken previously and your next dose, because each pack is labelled with the date, day of the week and time of administration. Additionally, continuous growth in the pharmaceutical industry is also fuelling the growth of multi-med adherence packaging. However, high lack of information among patients and even among individuals about multi-med adherence packaging may hamper the growth of the market.

Global multi-med adherence packaging market is projected to grow at a CAGR of 5.96% during the forecast period.

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Key Players

The prominent players in the global multi-med adherence packaging market include Omnicell, Inc. (U.S.), Manrex Limited (Canada), Rx Systems, Inc. (U.S.), Cardinal Health, Inc. (U.S.), Jones Packaging Inc. (U.S.), Global Factories Group (The Netherlands), Drug Package LLC (U.S.), TCGRx (U.S.), Parata Systems, LLC (U.S.) and others.

Market Research Analysis

On the basis of material, the market is segmented as plastic, paper and aluminum foil. Plastic accounted for the largest market share of 57.70% in 2016, with a market value of USD 210.5 million and is projected to grow at the highest CAGR of 6.48% during the forecast period. Different types of plastics such as polyethylene (PE), Polypropylene (PP), and polyvinyl chloride (PVC), are used. Plastic offers good visibility to the product and provides secure & attractive packaging. Additionally, it is durable, clean, lightweight, transparent, and cost-effective. Aluminum Foil was the second-largest market in 2016, valued at USD 93.4 million in 2016; it is projected to grow at a CAGR of 5.42%.

On the basis of end user, the market is segmented as retail pharmacies, hospital, and long term care facility. Retail Pharmacies accounted for the largest market share of 42.60% in 2016, with a market value of USD 155.4 million. Growing need to prevent dispensing errors, and thereby improving the operational capacity, are the factors driving the adoption of adherence packaging in retail pharmacies. Long Term Care Facility was the second-largest market in 2016, valued at USD 120.7 million in 2016; it is projected to grow at the highest CAGR of 6.29%.

Scope of the Report

This study provides an overview of the global Multi-Med Adherence Packaging Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global multi-med adherence packaging market by its material, end user and region.

By Material

  • Paper
  • Plastic
  • Aluminum foil

By Product

  • Blister Cards
  • Pouches

By End User

  • Retail Pharmacies
  • Hospital
  • Long Term Care Facilities

By Region

  • North America
  • Asia-Pacific
  • Europe
  • Rest of the World

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Kristina Payne

I'm a lifestyle and beauty expert from London. Since this is the internet, I also do explore other topics to keep readers afloat with the global issues happening right now. Catch me daily here in Market News Biz.

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