Adherence packaging market is estimated to be valued at USD 1.05 Billion in 2024, exhibiting a CAGR of 6.7% over the forecast period 2024-2031. Furthermore, rising geriatric population prone to chronic diseases is also driving the growth of adherence packaging market.
Increasing prevalence of chronic diseases and growing healthcare expenditure are some of the major drivers propelling the growth of global adherence packaging market. As per WHO, chronic diseases are the leading cause of death and disability worldwide, accounting for around 60% of all deaths globally. Around 16 million people die each year due to chronic diseases before attaining 70 years of age. Growing healthcare expenditure worldwide is also driving the market growth, as adherence packaging helps in reducing healthcare costs through improved medication adherence. According to data, global healthcare spending was USD 10 trillion in 2022 at a CAGR of 5.4%. However, high costs associated with advanced packaging solutions may hinder the market growth during the forecast period.
Meeting rising healthcare needs of aging populations is driving growth of adherence packaging market
As average life expectancy continues to rise globally, populations are aging in many countries. This leads to increased burden of chronic diseases that require long-term medication management. Adherence packaging helps elderly patients stick to complex prescription regimens by organizing medications into daily or weekly packs. This increases medication adherence and improves health outcomes. The growing senior citizen population demanding easier medication management solutions is a key factor boosting demand for adherence packaging worldwide.
Increasing prevalence of chronic diseases is propelling the adherence packaging industry
Chronic illnesses like diabetes, cardiovascular disease, mental health conditions, and others account for a large share of the global disease burden. Managing these conditions requires lifelong medication use, making adherence a challenge. Poor medication taking leads to worsening of disease and increased healthcare costs. Adherence packaging improves treatment compliance for chronic diseases by streamlining dosage schedules. The high and rising incidence of chronic disorders is driving strong uptake of adherence packaging services and products aimed at boosting patient adherence to chronic disease therapies.
Cost pressures on healthcare systems discourage uptake of adherence packaging
Adherence packaging solutions tend to be more expensive than traditional medication dispensing methods. In cost-sensitive markets, the additional cost is a deterrent for widespread adoption, especially in public healthcare facilities. Reimbursement policies also does not always cover adherence packaging. This pricing challenge inhibits the penetration of adherence packaging, especially in developing nations where out-of-pocket healthcare expenses are common.
Lack of clinical evidence restricts the market growth potential
While adherence packaging seems intuitively beneficial, there is a lack of strong clinical evidence proving its direct impact on meaningful health outcomes. More robust research is still needed to quantify benefits like reduced hospitalizations, lower disease severity and improved quality of life. This evidence gap limits insurer and institutional willingness to invest in and promote adherence packaging on a wider level. Additional clinical studies are required to overcome this restraint in the near future.
Growing focus on digital technologies offers new opportunities
The COVID-19 pandemic accelerated the digital transformation of the healthcare industry. Technologies like connectivity, wearables, telehealth and mHealth are increasingly utilized for remote patient monitoring and chronic disease management. Adherence packaging providers can leverage these digital tools and IoT sensors to incorporate real-time medication tracking features.
Partnering with pharmacies expands the market reach
Most adherence packaging currently takes place through collaboration with pharmacies, where clinical staff repackage medication. As pharmacy chains automate and expand, these provide an excellent partner channel for adherence packaging companiesThis partnership model can help adherence packaging penetrate new geographical markets at scale more rapidly through established dispensing points.
*Link: https://www.coherentmarketinsights.com/market-insight/adherence-packaging-market-5207
Key Developments
- In 2023, a novel smart digital closure was introduced to enhance medication adherence.
- In 2022, CuePath Innovation debuted the second generation of its smart blister packaging solution in collaboration with Wellness Pharmacy's Critical Care Program.In 2021, Jones Healthcare expanded medication adherence packaging offering
- In 2021, Cardinal Health launched NavixRx Compliance Packaging, e-commerce storefront at RBC
Key Players
Westrock Company, Keystone Folding Box Co., Cardinal Health Inc., Omnicell Inc., Jones Healthcare Group, Drug Package LLC, Parata Systems LLC, Manrex Limited, Medicine-On-Time LLC, Rx Systems Inc., AARDEX Group, Becton, Dickinson and Company, Talyst, TCGRx, McKesson Corporation, KUKA AG, Pearson Medical Technologies LLC