Multi-Med Adherence Packaging Market Revenue, Insights, Overview, Outlook, Analysis

The global Multi-Med Adherence Packaging market size is projected to reach USD 531.3 Million by 2027, from USD 405.8 Million in 2020, at a CAGR of 3.5% during 2021-2027. Key drivers of the multi-med adherence packaging market include the need for improving medication adherence for the benefit of patients. The rising expansion of the pharmaceutical industry will drive the demand for the multi-med adherence packaging market in the coming years.

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Trends Influencing the Growth of Multi-Med Adherence Packaging Market

A growing number of medication non-adherence

Medicinal non-adherence is a significant problem that leads to excessive wastage and escalates the overall medical costs every year. Medical packaging and blister cards perfectly organize the medications in an easy-to-follow format with visual enhancements. It clearly specifies what to take, and when to take it. Prescriptions are organized in packaging by day or time. This makes adherence easier to follow for patients and reduces unnecessary wastage of crucial resources. These factors will drive the growth of the multi-med adherence packaging market during the forecast period.

Rising pharmaceutical sector

The growing healthcare industry is being driven by the global prevalence of diseases and the increasing consumption of drugs. Newer and better versions of drugs are being developed which increases the requirement for packaging materials. These will drive the growth of the multi-med adherence packaging market during the review period.

Growing aging population

The rise in the geriatric population has enabled the need for multi-med adherence packaging. Older people with several chronic diseases do not take their medication seriously. Multiple drugs create confusion which further creates problems in health. As the old population increases demand for proper medicinal intake will expand significantly. These in turn will drive the growth of the multi-med adherence packaging market during the broadcasted period.

Technological innovations

Many drug products become complicated to consume and are not made keeping in mind the needs of older patients. Hence rapid technological advancements are undergoing to provide convenience and cater to a larger patient base. Systems like at-home medication dispensing devices to reminder setting apps along with telehealth technology have been developed to monitor the continuous process and ensure timely intake of medicines. These rapid changes in technology will surge the growth of the multi-med adherence packaging market during the review period.

Multi-Med Adherence Packaging Market Share

Based on material, the plastic segment is expected to dominate in the multi-med adherence packaging market share due to its being transparent, malleable, cost-effective, and lightweight features.

Based on application, the retail pharmacies segment will grow the highest in the multi-med adherence packaging market share due to the need for improving operating efficiency and reducing errors in dispensing.

Based on region, North America is expected to maintain the lead in the multi-med adherence packaging market share due to high healthcare expenditure, increasing geriatric population, and rising incidences of medical non-adherence.

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By Material
• Plastic
• Paper
• Aluminum Foil

By Application
• Hospitals Pharmacies
• Retail Pharmacies

By Company
• Mnicell
• Ardinal Health
• Ones Packaging
• Rug Package
• X Systems
• Lobal Factories Group
• Cgrx
• Arata Systems
• Anrex

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This release was published on openPR.