Multi-Med Adherence Packaging Market 2019 Worldwide Analysis, Global Share, Opportunities, Industry Size, Segments, Development Strategy And Regional Forecast To 2023
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
July 9, 2019 /MarketersMedia/ —
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.
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.
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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…..
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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