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Adherence Packaging Market to Expand at a CAGR of 6.5%by 2027
According to a recent report by Reports and Data, the global Adherence Packaging Market is anticipated to reach USD 1.25 billion by 2027, with a revenue CAGR of 6.5% during the forecast period. Proper medication administration continues to be a challenge for both patients and physicians, resulting in suboptimal clinical outcomes, increased medical expenses, and negative consequences on workplace efficiency and public health. Medication adherence packaging can address this issue by providing appropriate medication scheduling, which reduces the danger of patients being over- or under-medicated.
Adherence packaging can also be used to package patients' prescriptions for homebound consumers and delivered directly to their door. Pharmacies can use adherence packaging systems for oral-solid drugs to increase productivity, as research can be prepared for days with higher monthly refill levels, and consistency will be significantly improved.
Key players in the medication adherence packaging market include:
- Becton
- Dickinson, and Company
- Omnicell, Inc.
- Cardinal Health, Inc.
- McKesson Corporation
- Parata Systems LLC
- TCGRx, RxSafe, LLC
- Pearson Medical Technologies, LLC
- Talyst, LLC.
- Parata Systems LLC
- ARxIUM, Inc.
- KUKA AG.
The global adherence packaging market is categorized into segments and sub-segments based on type, material, end-user, and region.
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The market for adherence systems was dominated by multi-dose packaging systems in 2019. The plastic film segment is expected to grow at the fastest rate during the projected period due to its transparency, malleability, lightweight nature, and cost-effectiveness. Long-term care homes are expected to be the fastest expanding end-user sector in the medication adherence packaging market during the projection period.
North America led the market in 2019 due to the increasing prevalence of chronic diseases, a rapidly growing ageing population, increasing healthcare expenditure, a growing pharmaceutical market, high medication non-adherence, and increasing government financing.
Medication Adherence Packaging Market: Notable innovation
The medication adherence packaging market has seen notable innovations in recent years, particularly in the development of multi-dose packaging systems. These systems are designed to help patients with complex prescription regimens by organizing their medication in pre-packaged doses, improving patient safety and reducing the risk of dispensing errors. Other innovations include the use of plastic films for packaging, which offer advantages such as transparency, flexibility, lightweight nature, and cost-effectiveness. Barcoding and standardised trays have also been introduced to improve consistency and reduce errors in the packaging process.
Medication Adherence Packaging Market: product development
Product development in the medication adherence packaging market is focused on improving the functionality and ease of use of packaging systems. Companies are developing new packaging materials, such as bio-based polymers, to reduce the environmental impact of medication packaging. They are also exploring new packaging designs that are more user-friendly, with features like easy-open tabs and larger font sizes for dosing instructions.
In addition, digital technologies are being integrated into medication adherence packaging systems, such as electronic monitoring devices that can track patient medication use and send reminders to patients when it is time to take their medication. Mobile apps are also being developed to help patients manage their medication schedules and track their progress.
Pharmacies are also investing in automation technologies to streamline the packaging process and reduce errors. Automated dispensing machines and robotics are being used to package medication more efficiently and accurately, freeing up staff time and reducing the risk of errors.
Overall, product development in the medication adherence packaging market is focused on improving patient outcomes and reducing healthcare costs by making medication administration safer and more efficient.
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