DUBLIN--(BUSINESS WIRE)--The "Global Adherence Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Adherence Packaging Market is expected to register a CAGR of 7.22% over the forecast period from 2020 to 2025.
Companies Mentioned
- Westrock Company
- Keystone Folding Box Co.
- Cardinal Health Inc
- Omnicell Inc.
- Jones Healthcare Group
- Drug Package LLC
- Parata Systems LLC
Key Market Trends
Multi-Dose Packaging is Expected to Witness Significant Growth
- The importance of medication adherence and the benefits of synchronizing those medications have led to the development of multi-dose packages. The benefits of multi-dose blister cards include setting up dosage time to eliminate confusion, more natural self-medication, and cutting down the number of visits to the pharmacy per month. Multiple studies have proven improved adherence and health outcomes, combined with multimed blister packs and medication therapy management (MTM).
- A survey conducted by Omnicell suggested that patients assigned to the multimed packaging groups accounted for medication adherence rates of 80% initially, and they even accounted for 90% adherence rates by the completion of the trial. Alternatively, patients assigned to the pill bottle-only group accounted for an adherence rate of 56%. Omnicell offered multimed blister cards to Holyoke Health Center. The health center used Omnicell's SureMed+, a seven-day, four-time pass, cold-seal, bi-fold card.
- In early 2019, Buffalo Pharmacies offered multimed blister card packaging to patients, caregivers, and pharmacists, for the smooth management of complex medication regimens. To increase patient adherence to medications, the company selected the SureMed packaging system from Omnicell. The system provided perforated cards to offer a level of convenience for the patients. And, the ability to 'tear-off' a dose for on-the-go consumption served as a significant advantage, in terms of adherence packaging.
North America Dominates the Market and Expected to do Same in the Forecast Period
- The North American region is developed with prosperous economies, aging population segments, and advanced medical delivery systems. Still, the countries vary measurably in population size, healthcare spending intensities, aggregate gross domestic product (GDP) levels, and the structure of health insurance plans. With an advanced primary medical community, extensive medical and life science research activities, high healthcare spending intensity, and large pharmaceutical and medical supply and device industries, the United States accounts for one of the world's largest geographical markets for adherence packaging products.
- Further, the United States is witnessing improved medication adherence in the correctional setting. The incarcerated population in most correctional facilities relies on an outside pharmacy to fill their prescriptions. An onsite pharmacist may be provided in some situations. However, such staff is often restricted, relying on a centralized location to supply drugs and an onsite nurse manager or similar to dispense. This strengthens the case for dispensing administration systems that are low-effort for personnel while yet being well-managed to ensure patient adherence.
- In February 2022, CuePath Innovation, a provider of medication adherence solutions for the home healthcare sector, announced the release of its second-generation suite of remote patient care medication adherence monitoring tools that includes Smart Blister Packaging Solution. The announcement comes with the launch of the company's critical care project with Wellness Pharmacy Group, which will provide medication monitoring and adherence support for patients on complicated regimens. The program's purpose is to guarantee that patients with complex medical conditions, such as renal and transplant patients, stick to their medications as close as possible.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rise in Need to Minimize Medication Wastage
5.1.2 High Rate of Medication Non-Adherence
5.2 Market Challenges
5.2.1 High Installation and Maintenance Costs of Automated Systems
5.2.2 Lack of Awareness Regarding Medication Adherence Packaging
5.3 Market Opportunities
6 ASSESSMENT OF THE IMPACT OF COVID-19 ON THE INDUSTRY
7 GOVERNMENT REGULATIONS
8 MARKET SEGMENTATION
8.1 By Material
8.2 By Type
8.3 By Packaging Type
8.4 By End-User Industry
8.5 By Geography
9 COMPETITIVE LANDSCAPE
9.1 Company Profiles
10 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/hcdhri
