multi-med (3)

Summary

Medication Adherence Packaging Market Size of USD 619.8 Mn, High CAGR of ~6.11%, Growth, Segments and Industry Forecast by 2023 | Multi-Med Adherence Packaging Market 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

Medication Adherence Packaging Market Synopsis

Market Research Future (MRFR) in its “Medication Adherence Packaging Market” report asserts that the market is likely to thrive at about 6.11% CAGR across the forecast period of 2018 to 2025. The size of the Medication Adherence Packaging Market is anticipated to increase at nearly USD 619.8 million over the evaluation period.

Improvement in medication adherence and the upscaling pharmaceutical industry are major forces that casting a positive impact on the Medication Adherence Packaging Market. Additional factors that are likely to surge the market are; growing old populace demanding at home delivery of medicines and increase in need for untampered packaging while shipping.  However, the lack of awareness about the packaging technique and variation in prices of raw materials are can deter the growth of the worldwide market of multi-med adherence packaging.

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Multi-Med Adherence Packaging Market Key Players

The important key players of the global Medication Adherence Packaging Market are 

Manrex Limited (Canada)

Omnicell, Inc. (US)

Cardinal Health, Inc. (US)

Rx Systems, Inc. (US)

Global Factories Group (Netherlands)

Jones Packaging Inc. (US)

TCGRx (US)

LLC (US)

Parata Systems

The worldwide market is rising to be highly competitive due to the presence of strong contenders of the market. These players are adopting strategies that are likely to contribute to the robust growth of the market and can wind in considerable revenue. In addition, these key players focusing on the improving product quality and enhanced cost-effectiveness, which, in turn, is leading to strategic partnerships and collaborations. These are expected to induce growth for the global medication packaging market.

Segmental Outline

The global Medication Adherence Packaging Market is segmented by product, material, and end user.

By material, the market is classified into paper, plastic, and aluminum foil. The plastic segment is anticipated to hold command on the global market. Plastic is lightweight and offers high barrier, better cost, malleability, transparency, enhanced resistance to temperature, and better durability in packaging. These factors are surging the demand for plastics in the packaging industry, which, in turn, is expected to escalate the Medication Adherence Packaging Market.

By product, the market is divided into pouches and blister card. The blister cards segment accounted for the major share of the market. Blister packs are used in the pharmaceutical industry for packaging of medicines and other small medical devices. Better safeguard from oxygen and moisture offered by blister packaging prevent spoilage of contents and restores to their shelf lives. Blister packaging also aids in handling temperature fluctuations while shipping. These factors are likely to gain sizable profit for the global market.

By end-user, the market is categorized into hospital, retail pharmacies, and other long-term care facilities. The retail pharmacies segment is exhibit the highest growth rate during the assessment period. The rise in need for prevention of dispensing errors, which, in turn will improve the operational capacity is rising the adoption rate of multi-med adherence packed items by retail pharmacies across the world. This is expected to cast a positive influence on the blister packs for elderly market.

Regional Analysis of Medication Pouch Packaging Market

The global market in North America in 2018, held the lion’s share of the global market. MRFR reveals that the market is poised to retain its dominance across the evaluation period. The US is expected to contribute largely to the rapidly growing North America market. The pharmaceutical industry in the United States is driving the market growth of medicines packaging. The hike in number of research and development activities related to the pharmaceutics and biotechnology that are taking place in the US is leading to the launch of new medicines. This is surging the adoption of Medication Adherence Packaging Market in the region.

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Related Report : https://www.marketwatch.com/press-release/medical-packaging-market-2019-top-manufacturers-global-analysis-by-top-players-industry-size-segmentation-financial-overview-share-business-challenges-and-forecast-to-2023-2019-10-03

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Summary

Global Multi-Med Adherence Packaging Market Growth, Analysis, Trends, Future Scope, Size 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 Analysis

The global multi-med adherence packaging market is predicted to grow at a 5.96% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Multi-med adherence packaging assists patients to take the right medication, at the right time, and at the right dose. Each pack is labelled with date, time of administration, and day of the week. This form of packaging is labeled with pass time, strength, and instructions by ensuring the distribution to the patient.

Various factors are driving the growth of the multi-med adherence packaging market. These factors, in accordance with the Market Research Future (MRFR) report, include constant growth in the pharmaceutical industry, need to minimize medication wastage, growing rate of medication nonadherence, and initiatives undertaken by government agencies for packaging types which improve the regime of medicine intake of patients.

On the contrary, lack of awareness, lack of marketing, and fluctuation in the prices of raw materials are factors that may hamper the multi-med adherence packaging market growth during the forecast period.

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Key Players

Leading players profiled in the multi-med adherence packaging market report include

  • Parata Systems, LLC (US)
  • TCGRx (US)
  • Drug Package LLC (US)
  • Global Factories Group (The Netherlands)
  • Jones Packaging Inc. (US)
  • Cardinal Health, Inc. (the US)
  • Rx Systems, Inc. (US)
  • Manrex Limited (Canada)
  • Omnicell, Inc. (US).

Industry News

June 2019: Pharmaceutical giant Pfizer has joined hands with Popit, the Finnish health tech startup to offer support to those taking rheumatoid arthritis medicines. Popit’s adherence solution will be provided to Pfizer patients, that will monitor pill-taking through a smart device and also alert users through an app should they miss their medication.

Market Segmentation

The Market Research Future report offers a wide segmental analysis of the multi-med adherence packaging market based on end users, product, and materials.

Based on material, the multi-med adherence packaging market is segmented into aluminum foil, paper, and plastic. Of these, the plastic segment will have the largest share in the market over the forecast period. Various forms of plastics such as polyvinyl chloride (PVC), polypropylene (PP), and polyethylene (PE) are used. They are durable, lightweight, clean, cost-effective, and transparent. The aluminum foil segment will have the second largest share in the market.

Based on product, the multi-med adherence packaging market is segmented into pouch and blister cards. Of these, blister cards will dominate the market over the forecast period. Blister cards helps to safeguard small medical devices and medicines from odor, moisture, and oxygen and also improve their shelf life. These cards can help with temperature fluctuations, which can take place during shipping.

Based on end user, the multi-med adherence packaging market is segmented into long-term care facility, hospital, and retail pharmacies. Of these, retail pharmacies will lead the market over the forecast period. This is owing to growing need to prevent dispensing errors, and improve the operational capacity. Long-term care facilities include assisted living facilities, skilled nursing facilities, and nursing homes. The long-term care facilities segment will grow at the highest CAGR.

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Regional Analysis

Based on the region, the multi-med adherence packaging market covers growth opportunities and the latest trends across Asia Pacific, North America, Europe, and Rest of the World. Of these, North America will dominate the market over the forecast period. This is owing to increasing funds by government agencies, the growing rate of medication non-adherence, and growing pharmaceuticals market. The US is the key contributor here.

The multi-med adherence packaging market in Europe will have the second largest share in the market over the forecast period. This is owing to significant funding made by the government for research and development, the presence of renowned adherence packaging companies, growth in aging population, and growing prevalence of cardiovascular diseases.

The multi-med adherence packaging market in the APAC region will have favorable growth over the forecast period. This is owing to growing urbanization, growing awareness among consumers, and also increasing affluence in the region. Japan, India, as well as China are the key contributors here.

Related News : https://www.marketwatch.com/press-release/medical-packaging-market-2019-global-trends-key-vendors-analysis-industry-growth-import-export-revenue-by-forecast-to-2023-2019-02-20

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Summary

Global Multi-Med Adherence Packaging Market Growth, Analysis, Trends, Future Scope, Size 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 Analysis

The global multi-med adherence packaging market is predicted to grow at a 5.96% CAGR over the forecast period (2017-2023), reveals the new Market Research Future (MRFR) report. Multi-med adherence packaging assists patients to take the right medication, at the right time, and at the right dose. Each pack is labelled with date, time of administration, and day of the week. This form of packaging is labeled with pass time, strength, and instructions by ensuring the distribution to the patient.

Various factors are driving the growth of the multi-med adherence packaging market. These factors, in accordance with the Market Research Future (MRFR) report, include constant growth in the pharmaceutical industry, need to minimize medication wastage, growing rate of medication nonadherence, and initiatives undertaken by government agencies for packaging types which improve the regime of medicine intake of patients.

Request Free Sample Copy With TOC @ https://www.marketresearchfuture.com/sample_request/4157

Key Players

Leading players profiled in the multi-med adherence packaging market report include

  • Parata Systems, LLC (US)
  • TCGRx (US)
  • Drug Package LLC (US)
  • Global Factories Group (The Netherlands)
  • Jones Packaging Inc. (US)
  • Cardinal Health, Inc. (the US)
  • Rx Systems, Inc. (US)
  • Manrex Limited (Canada)
  • Omnicell, Inc. (US).

Market Segmentation

The Market Research Future report offers a wide segmental analysis of the multi-med adherence packaging market based on end users, product, and materials.

Based on material, the multi-med adherence packaging market is segmented into aluminum foil, paper, and plastic. Of these, the plastic segment will have the largest share in the market over the forecast period. Various forms of plastics such as polyvinyl chloride (PVC), polypropylene (PP), and polyethylene (PE) are used. They are durable, lightweight, clean, cost-effective, and transparent. The aluminum foil segment will have the second largest share in the market.

Based on product, the multi-med adherence packaging market is segmented into pouch and blister cards. Of these, blister cards will dominate the market over the forecast period. Blister cards helps to safeguard small medical devices and medicines from odor, moisture, and oxygen and also improve their shelf life. These cards can help with temperature fluctuations, which can take place during shipping.

Based on end user, the multi-med adherence packaging market is segmented into long-term care facility, hospital, and retail pharmacies. Of these, retail pharmacies will lead the market over the forecast period. This is owing to growing need to prevent dispensing errors, and improve the operational capacity. Long-term care facilities include assisted living facilities, skilled nursing facilities, and nursing homes. The long-term care facilities segment will grow at the highest CAGR.

Regional Analysis

Based on the region, the multi-med adherence packaging market covers growth opportunities and the latest trends across Asia Pacific, North America, Europe, and Rest of the World. Of these, North America will dominate the market over the forecast period. This is owing to increasing funds by government agencies, the growing rate of medication non-adherence, and growing pharmaceuticals market. The US is the key contributor here.

The multi-med adherence packaging market in Europe will have the second largest share in the market over the forecast period. This is owing to significant funding made by the government for research and development, the presence of renowned adherence packaging companies, growth in aging population, and growing prevalence of cardiovascular diseases.

The multi-med adherence packaging market in the APAC region will have favorable growth over the forecast period. This is owing to growing urbanization, growing awareness among consumers, and also increasing affluence in the region. Japan, India, as well as China are the key contributors here.

Browse Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/multi-med-adherence-packaging-market-4157

Table Of Content

1  Executive Summary

2  Introduction

2.1 Definition

2.2 Scope Of The Study

2.3 Assumptions

2.4 Market Structure

3  Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

Continues…..

List Of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL MULTI-MED ADHERENCE PACKAGING MARKET

FIGURE 4 PHARMACEUTICAL SPEND PER CAPITA, 2016 (USD MILLION)

FIGURE 5 POPULATION AGES 65 AND ABOVE, 2011-2015 (% OF TOTAL)

FIGURE 6 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL MULTI-MED ADHERENCE PACKAGING MARKET

Continues…..

For More Info, Click @ https://www.reuters.com/brandfeatures/venture-capital/article?id=130053

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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