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Multi-Med Adherence Packaging Market 2017 Segmented by Type, By Application, End Users and Region- Market Overview, Analysis & Forecast to 2023
Global Multi-Med Adherence Packaging Market Information Report 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
Market Highlights:
Improving medication adherence is the primary factor diving the growth of the market. Earlier, pill sorting, had traditionally been consuming and confusing. It simplifies medication programs. Multi-med adherence packaging helps patients take the right pills and the right dose, at the right time. It gives a visual indication of the tablets taken previously and your next dose, because each pack is labelled with the date, day of the week and time of administration. Additionally, continuous growth in the pharmaceutical industry is also fuelling the growth of multi-med adherence packaging. However, high lack of information among patients and even among individuals about multi-med adherence packaging may hamper the growth of the market.
Global multi-med adherence packaging market is projected to grow at a CAGR of 5.96% during the forecast period.
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Regional Analysis
On the basis of regions, 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. In North America the market is driven by various factors such as growing pharmaceuticals market, high rate of medication non adherence, and increase in funding by government agencies. U.S. is dominating the multi-med adherence packaging market in North America with a market share of 80.6% in 2016. 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 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.
Key Players
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.
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About Us:
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Akash Anand,
Market Research Future
Pune – 411028
Maharashtra, India
Phone No. :+1 646 845 9312
Email: sales@marketresearchfuture.com
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