About Medication Adherence Packaging Systems
Medication adherence packaging system is the system designed to provide proper adherence to the medicines as non-adherence can be considered a major issue reported in every region. Thus, many regional governments have been taking initiatives to improve medicine intake regime by enlightening packaging type. Additionally, rising demand for medication adherence packaging system as it increases pharmacy efficiency, increasing consumption from North American and growing demand from the Asian countries for a better adherence packaging solution for pharmacies have been supplementing overall growth of the market. However, high initial investment and high maintenance cost associated with the automated system, lack of awareness, and increasing financial implications associated with medication adherence packaging system are the limiting factors in the operating market. Moreover, rising awareness to diminish medication wastage across the globe and increasing investment in R&D for developing a better and cost-effective medication adherence packaging solution may create better opportunities in the forecasted year.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.12% |
Competition among existing players is due to the Medication Adherence Packaging Systems market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Medication Adherence Packaging Systems Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage.The Players having a strong hold in the market are Cardinal Health, Inc., Omnicell, Inc., Becton, Dickinson, Talyst, LLC, Parata Systems LLC. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Medication Adherence Packaging Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cardinal Health, Inc. (United States), Omnicell, Inc. (United States), Becton, Dickinson, and Company (United States), Talyst, LLC (United States), Parata Systems LLC (United States), TCGRx (United States), McKesson Corporation (United States), KUKA AG (Germany), Pearson Medical Technologies LLC (United States), RxSafe, LLC (United States) and ARxIUM, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Manrex Limited (Canada), Accu-Chart Plus Healthcare Systems, Inc. (United States), Synergy Medical (Canada), Manchac Technologies, LLC (United States), Global Factories B.V. (Netherlands), Drug Package, LLC (United States), Jones Packaging Inc. (United States), American Health Packaging (AmerisourceBergen) (United States) and Medicine-On-Time (United States).
Segmentation Overview
AMA Research has segmented the market of Global Medication Adherence Packaging Systems market by Type (Unit-dose Packaging Systems and Multi-dose Packaging Systems) and Region.
On the basis of geography, the market of Medication Adherence Packaging Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Packaging, the sub-segment i.e. Ampoules will boost the Medication Adherence Packaging Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Plastic (Polyvinyl Chloride, Rigid Polyvinyl Chloride, Polyethylene Terephthalate) will boost the Medication Adherence Packaging Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Pharmaceuticals (Retail Pharmacies, Mail-order Pharmacies) will boost the Medication Adherence Packaging Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Blister or Wallet-Style Packs unlike Traditional Vials and Caps
Market Growth Drivers:
Increasing Government Initiatives for Improving the Medicine Intake Regime by Enhancing Packaging and Rising Demand for Increased Pharmacy Efficiency
Challenges:
Increasing Financial Implications Associated with Medication Adherence Packaging System
Restraints:
High Initial Investment and High Maintenance Cost Associated with Automated System and Lack of Awareness about Medication Adherence Packaging Systems
Opportunities:
Increasing Investment in R&D for Developing a Better and Cost-Effective Medication Adherence Packaging Solution, Increasing Consumption from North American and Growing Demand from the Asian Countries for Medication Adherence Packaging Solution and Growing Awareness to Diminish Medication Wastage across the Globe
Market Leaders and their expansionary development strategies
In July 2022, BD announced that it completed its previously announced acquisition of pharmacy automation company Parata Systems.
In February 2019, Medicine-On-Time has announced of its launch of the new packaging system for pharmacies. CircuPack is a new packaging system that offers a better cost-effective solution with high accuracy, less operational time and built blister packs for customized medication regimens. The new launch can create new opportunities for the company.
Key Target Audience
Medication Adherence Packaging Service Providers, Raw Material Suppliers, Potential Investors, Government Associations, Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.