Medication Adherence Packaging: Market to Achieve US$ 2 billion by 2034

With the moderate scope of progress, the medication adherence packaging will likely trace an optimistic future progress path to reach USD 2 billion by 2034. The industry was valued at USD 1.1 billion in 2023.

The likelihood of this change in the industry size is moderate and will encompass the development at a CAGR of 5.2%. This forecast will elevate prospects for key players within the industry, fueling market development.

With the rising drug addiction cases among individuals, the need for medication compliance surges. This elevated need further dominates the market, driving the demand for medication adherence packaging.

To mitigate the increasing prevalence of drug abuse and addiction, compliance-prompting packaging methods can be used. This can assist patients in designing appropriate dosage and drug delivery time.

For More Details, Request for a Sample of this Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86153&utm_source=OpenPR&utm_medium=Kaustubh

The necessity of such efforts has been rising due to the alarming side effects of improper medication. As a result, to ensure patients' health and safety, medical assistance must be provided, which can be achieved through this method.

The overall cost is reduced with the use of such methods, which is another vital benefit. As a result, this generates more demand in the healthcare sector, which elevates the market size.

With the growing geriatric population, the demand for drug delivery assistance increases. Recent trends reflect that homecare has been more emphasized, which elevates the scope of the industry.

Technological innovations in the global medication adherence packaging market spur the augmentation of packaging methods. Smart labeling, RFID codes, NFC, and other cutting-edge methods are gaining traction.

Key Findings from the Market Report

The segmentation of the global medication adherence packaging market is based on different criteria. Based on the material type used, the sector can classified into various categories. Due to the versatility of plastics, the demand for the category will likely be the highest among other categories.

The ability of the unit-dose packaging system to eliminate errors is higher compared to other systems. As a result, the demand for such systems will gain more attention than other categories, justifying its market share.

With the use of radio frequency identification (RFID) technology, better real-time verification can be performed by pharmacists. This drives the demand for the category based on the technology used.

Based on the end-user industry, the demand for such packaging solutions will be the highest in hospitals and clinics. Due to the frequent outflow of medicines from hospitals, more packaging solutions will be required.

Regional Profile

The developing healthcare sector in North America will likely generate better lucrative opportunities for the medication adherence market.

The growing geriatric population in the Asia-Pacific region will drive the demand for better medical assistance to older adults. This will drive the market in the said region.

To cater to the rising cases of drug overdose in Europe, appropriate medication must be provided. This factor drives the demand in the region.

Key Players

Garlock an Enpro Industries Inc. Subsidiary
Flexitallic
Freudenberg Sealing Technologies
James Walker Group
TEADIT
Dana Limited
Trelleborg Group
Klinger Group
ElringKlinger AG
Lamons

Key Developments in the Medication Adherence Packaging Market

In January 2023, Enpro completed the divestiture of Enpro Industries, Inc. This move created more market space.

Flexitallic has launched a new gasket range called RIGFLEX RJ and FP range that has an operating temperature range of -200ºC to +260ºC.

Market Segmentation

By Material Type

Plastics
Paper and Paperboard
Aluminum
Composite Materials
By System

Unit-dose Packaging
Multi-dose Packaging

By Technology

Radio Frequency Identification (RFID)
Near Field Communication (NFC)
Electronic Monitoring Devices
Temperature and Humidity Sensors
Others

By End-use Industry

Hospitals and Clinics
Retail Pharmacies
Long-term Care Facilities
Home Healthcare Settings
Clinical Trials

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights: https://www.transparencymarketresearch.com/checkout.php?rep_id=86153<ype=S&utm_source=OpenPR&utm_medium=Kaustubh

More Trending Report by Transparency Market Research:

Rotomolding Market (سوق روتومولدينج) - https://www.transparencymarketresearch.com/rotomolding-market.html

Industrial Protective Clothing Fabrics Market (工業用防護服生地市場) - https://www.transparencymarketresearch.com/industrial-protective-clothing.html

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com

This release was published on openPR.