Medical non-adherence is a common problem reported in each region, according to a report published by IMS Health, since in the United States alone there are avoidable costs of more than $ 200 billion due to the patient's failure to comply. Due to the widespread effect of non-adherence with medical standards, health systems and government agencies around the world are working on the types of packaging that help reduce the problem. The advent of single-dose formats is one of the initial steps that the government has taken to improve adherence to treatment by patients. Medical adherence packaging Market involves the labeling and packaging of pharmaceutical products for the patient to take the medication according to the instructions. It is expected that the global drug packaging market will experience a high average annual growth rate because of advances in the pharmaceutical market.
Global Liquid Biopsy Market Size
According to the report of Research Cosmos, The Global Adherence Packaging Market is projected to reach USD 917.7 Million by 2022 from an estimated USD 679.1 Million in 2017, at a CAGR of 6.2%.
What are the factors driving demand for Global Adherence Packaging Market?
The initiatives of government agencies in all regions regarding the types of packaging that improve patients' drug intake regimes is one of the main drivers of growth in the global drug packaging market. There has been a growing demand for types of packaging that allow patients to monitor their drug use, driving the growth of the drug packaging market. The financial implications of the containers for the adherence to the medicines on the types of conventional containers is a limiting factor, since not only the patients, even the manufacturers, are reluctant to opt for a container based on medicines. In addition, macroeconomic conditions in some regions do not allow for a steady growth in the drug compliance packaging market. The introduction of intelligent characteristics in the types of medicine delivery containers is a key trend in the global market of medicine adhesion containers. Manufacturers have introduced calendar blisters and smart caps to improve patient compliance problems. It is expected that the use of raw materials of biological origin to produce medicine containers creates many opportunities for the global market of drug-resistant packaging. It is also expected that customization for brand differentiation creates growth opportunities for the global drug-based packaging market.
Geographic Segmentation:
Geographically, the global adherence packaging market is segmented in North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2016, North America dominated the global access packaging market owing to factors such as the increase in the prevalence of chronic diseases, the rising costs of medical care, the rapid growth of the aging population, the growth in the pharmaceutical market, the high rate of non-compliance and increased funding. Europe is the fastest growing market for the member packaging market. The growth of the adhesion packaging market in Europe is mainly due to the availability of significant public funds for R & D, the presence of the main packaging companies, the growing prevalence of cardiovascular diseases and the aging of the population.
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Key Players in Global Adherence Packaging Market:
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