Market growth can be attributed to the growing need to minimize medication wastage, high rate of medication nonadherence, and technological advancements such as remote dispensing systems. On the other hand, high installation and maintenance costs of automated systems are expected to restrain the overall market growth during the forecast period.
What the Market Looks Like?
The global adherence packaging market is projected to reach USD 917.7 Million by 2022 from a base USD 646.0 Million in 2016, at a CAGR of 6.2%. North America dominated the global adherence packaging market.
The multi-dose packaging systems segment is further segmented into blister card packaging systems and strip/pouch packaging systems. The large share and high growth of this segment can primarily be attributed to the benefits of multi-dose packaging, such as assisting patients with complicated prescription regimens, ability to enhance patient safety, and elimination of medication waste.
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What are Key Trends in the Market?
The growth of the Adherence Packaging Market is primarily influenced by the following factors:
- High Rate of Medication Non-Adherence
- Growing Need to Minimize Medication Wastage
- Technological Advancements, Such as Remote Dispensing Systems
The major end users of adherence packaging market are retail pharmacies, long-term care facilities, and hospitals. Long-term care is the fastest growing end user segment in the medication adherence packaging market during the forecast period. In 2016, the retail pharmacies dominated the adherence packaging market
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