5.96% CAGR of Multi-Med Adherence Packaging Market - Robust Expansion by Top Key Manufactures, Demand and Supply to 2023

MarketResearchFuture.com added New Report Named “Multi-Med Adherence Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation 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 | Outlook to 2023” to its Database.

The multi-med adherence packaging market is expected to grow at ~5.96% CAGR and reach market size of USD 543.3 million by 2023

In multi-med adherence packaging, pharmacies or hospitals put multiple doses into prefilled medicine packs and each pack is labelled with the date, day of the week and time of administration. This is helps people with complicated prescription regimens, take their prescriptions properly. Increase in ageing population driving the growth of the market. The rise in ageing population leads to increasing diseases and higher requirement of medical facilities. Many people of above 60 years of age, normally have more critical medical conditions and are usually on multiple medicines. On other hand, fluctuation in raw material prices and lack of awareness/marketing may hamper the growth of the market.

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North America region dominates the global multi-med adherence packaging market

On the basis of regions, global multi-med adherence packaging market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America dominates the global multi-med adherence packaging market. North America accounted for the largest market share of 41.10% in 2016, with a market value of USD 149.9 million and is projected to grow at a CAGR of 6.09% during the forecast period. The North America multi-med adherence packaging market is driven by various factors such as growing pharmaceuticals market, high rate of medication non adherence, and increase in funding by government agencies. Europe was the second-largest market and valued at USD 118.9 million in 2016. The growth of the market across the European region is primarily driven by the availability of significant government funding for R&D, presence of leading adherence packaging companies, increasing prevalence of cardiovascular diseases, and growth in aging population. Asia-Pacific multi-med adherence packaging market is expected to grow at a CAGR of 5.39% during the forecast period.

Asia-Pacific is also the major region for the market. Rising awareness among the consumers, growing urbanization, and increasing affluence in the Asia-Pacific region are the factors expected to fuel the demand for market during the forecast period. China, India, and Japan, are some of the key countries in the region that are significantly contributing towards the growth of the Asia-Pacific multi-med adherence packaging market.

Global multi-med adherence packaging market has been segmented based on materials, product, end users and regions. On the basis of material, the market is segmented as plastic, paper and aluminum foil. Plastic accounted for the largest market share of 57.70% in 2016, with a market value of USD 210.5 million and is projected to grow at the highest CAGR of 6.48% during the forecast period. Different types of plastics such as polyethylene (PE), Polypropylene (PP), and polyvinyl chloride (PVC), are used. Plastic offers good visibility to the product and provides secure & attractive packaging. Additionally, it is durable, clean, lightweight, transparent, and cost-effective. Aluminum Foil was the second-largest market in 2016, valued at USD 93.4 million in 2016; it is projected to grow at a CAGR of 5.42%. Based on product, Blister Cards accounted for the largest market share of 86.60% in 2016, with a market value of USD 315.9 million. Blister packaging safeguards medicines and small medical devices from oxygen, moisture, odor and also increases their shelf life. Blistering materials can also help with temperature fluctuations that can occur during shipping.

On the basis of end user, the market is segmented as retail pharmacies, hospital, and long term care facility. Retail Pharmacies accounted for the largest market share of 42.60% in 2016, with a market value of USD 155.4 million. Growing need to prevent dispensing errors, and thereby improving the operational capacity, are the factors driving the adoption of adherence packaging in retail pharmacies. Long-term care facilities includes nursing homes, skilled nursing facilities, and assisted living facilities. These long-term care facilities are increasing continuously across the world due to increasing aging population. Hence, long-term care facilities segment is expected to grow at a highest CAGR of 6.29%.

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The prominent players in the global multi-med adherence packaging market include Omnicell, Inc. (U.S.), Manrex Limited (Canada), Rx Systems, Inc. (U.S.), Cardinal Health, Inc. (U.S.), Jones Packaging Inc. (U.S.), Global Factories Group (The Netherlands), Drug Package LLC (U.S.), TCGRx (U.S.), Parata Systems, LLC (U.S.) and others.

This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

Product Analysis

• Product matrix which gives a detailed comparison of the market for different recycled product types

Additional Information

• Regulatory Landscape
• Pricing Analysis
• Macroeconomic Indicators

Geographic Analysis

• Geographical analysis across 15 countries

Company Information
• Profiling of 10 key market players
• In-depth analysis including SWOT analysis, and strategy information of related to report title
• Competitive landscape including emerging trends adopted by major companies

Brief TOC :

1. Executive Summary
2. Research Methodology
3. Market Dynamics
4. Global Market, By Packaging Type
5. Global Market, By Technology
6. Global Market, By Application
7. Global Market, By End-user
8. Regional Market Analysis
9. Competitive Analysis
10. Conclusion
11. List Of Tables
12. List Of Figures

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