Adherence packaging refers to packaging systems used for organizing and dispensing medication doses to assist patients with self-administration of multiple prescription and over-the-counter drugs as per a predetermined schedule. Adherence packaging aids in organizing medications by date and time and includes multi-dose plastic pouches, strip organizers, and blister packs. It helps simplify medication regimens and improve adherence rates among elderly patients and people who take multiple daily doses of medicines. The healthcare industry is increasingly adopting adherence packaging solutions to help patients follow medication schedules correctly and avoid complications arising from missed or incorrect doses.
The global Adherence Packaging Market is estimated to be valued at US$ 1144.97 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Poor medication adherence continues to be a major challenge faced by the healthcare industry worldwide. Non-adherence to prescribed medication regimes often results in unnecessary hospitalizations and increased healthcare costs. Growing research shows that simple reminders and packaging that organizes medications by time of intake can significantly improve medication compliance. This is driving greater adoption of adherence packaging formats such as multi-dose pouches and blister packs among pharmaceutical manufacturers and medication dispensers. Additionally, the senior population globally is proliferating rapidly. As elderly patients require assistance to manage multiple prescriptions daily, demand for easy-to-use adherence packaging from this demographic will further augment the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat is low due to high capital requirement and well-established brands. However, SMEs can enter the market with innovations.
Bargaining power of buyers: The bargaining power is high as buyers have numerous options. They can negotiate on pricing and demand innovative products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many equipment manufacturers and material suppliers. However, suppliers of specialized machinery have some bargaining power.
Threat of new substitutes: The threat is moderate as alternative packing solutions like pills organizers are available but adherence packaging has advantages like compliance.
Competitive rivalry: The competition is high among major players to gain market share and introduce innovative solutions for medication management.
Key Takeaways
The Global Adherence Packaging Market Growth expected to witness high. The global Adherence Packaging Market is estimated to be valued at US$ 1144.97 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
The North American region dominated the market in 2021 attributed to the growing elderly population needing multi-drug therapies. Europe is also expected to grow at a fast pace during the forecast period. This is due to the increasing healthcare expenditure and initiatives by governments in countries like Germany and U.K. to enhance medication adherence.
Key players: Key players operating in the adherence packaging market are 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. They are focused on new product launches and business expansion strategies to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
