Adherence Packaging is a vital part of medication management for patients with multiple prescriptions. Insufficient adherence to prescribed medications can lead to increased chronic disease complications and health care expenditures. This method of packaging includes instructions for time, frequency, and dose of each drug. Some adherence packaging is colour coded to help visually impaired patients find the right medication. These products make it easy for patients to take their medications on time. They also offer a convenient storage solution for multiple-dose medication bottles.
Market Statistics:
The Global Adherence Packaging Market is estimated to account for US$ 864.54 Mn in terms of value by the end of 2021.
Global Adherence Packaging Market: Drivers
Rise in prevalence of chronic disease and growing demand for blister packaging are key factor driving growth of the adherence packaging market.
Global Adherence Packaging Market: Opportunities
Emergence of innovative and automated adherence packaging solutions is projected to bring bright market opportunities for the market players. For instance, in December 2021, Jones Healthcare Group (“Jones”), provider of advanced packaging and medication dispensing solutions, has expanded its Qube and FlexRx™ medication adherence product lines with a reported first-of-its-kind sustainable packaging for pharmacies.
Global Adherence Packaging Market: Restraints
Macroeconomic conditions in certain regions limit the growth for the medication adherence packaging market.
Global Adherence Packaging Market – Impact of Coronavirus (COVID-19) Pandemic
The impact of COVID-19 has created a demand for good quality packaging for the pharmaceutical as the pandemic raised concerns about the virus' ability to survive on packaging surfaces. In its early phases, the pandemic, which resulted in statewide lockdowns, had a significant financial impact on the pharmaceutical packaging business. The spread of COVID-19 had a detrimental influence on the market due to supply chain disruptions as a result of protracted plant closures around the world. Bottles, blister packaging, prefillable syringes, vials, and ampoules manufacturers have found it difficult to supply pharma companies logistically.
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Key Takeaways:
The global adherence packaging market was valued at US$ 864.54 Mn in 2021 and is forecast to reach a value of US$ 1420 Mn by 2030 at a CAGR of 7.22% during 2022 to 2030.
Blisters packaging segment held dominant position in the global Adherence Packaging market in 2020, accounting for 60% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Adherence Packaging Market Trends:
Growing popularity of unit-of-use packaging to reduce the complexity of self-administration of multiple medications and improve adherence will positively impact the market growth.
Constant evolution of legislation due to breakthrough in research and launch of new technology is expected to support the market growth. Moreover, many RFID-enabled packages are used in clinical trial packaging.
Global Adherence Packaging Market: Competitive Landscape
Westrock Company, Keystone Folding Box Co, Cardinal Health Inc, Omnicell Inc., Jones Healthcare Group, Drug Package LLC, Manrex Limited, Medicine-on-time LLC, and Rx Systems Inc.
Global Adherence Packaging Market: Recent Developments
In December 2021, Jones Healthcare Group announced the addition of new solutions to its Qube and FlexRx medication adherence product lines with first-of-its-kind sustainable packaging for pharmacies. The Qube Pro, FlexRx One, and FlexRx Reseal are designed to lower environmental footprints for pharmacies and patients alike, while also saving pharmacy care teams’ time to dedicate to patients.
