(Food-Beverage-News.Com, January 10, 2018 ) The Global Multi-med Adherence Packaging Market was valued at USD 364.8 million in the year 2016, which is expected to reach USD 543.3 million by the end of the forecast period growing at 5.96% CAGR, According to a research report published by Research Cosmos.
Multi-med adherence packaging is revolving the pharmaceutical packaging industry. This packaging simplify the medication programs. Multi-med adherence packaging helps the patient to take the right pills and right dose at the right time. The multi-med adherence packaging market is driven by various factors such as improving medication adherence, continuous growth in the pharmaceutical industry and increase in ageing population. The multi-med adherence packaging market has various constraints that hinder the growth of the market such as lack of awareness/marketing and fluctuation in raw material prices.
The global multi-med adherence packaging market has been segmented based on material, product and end-user. On the basis of material, the market is segmented into plastic, paper and aluminum foil. The study indicates, plastic accounted for the largest market share and is expected to be fastest growing material type in the market. On the basis of product, the market is segmented into blister cards and pouches. The study indicates, blister cards segment accounted for the largest market share and is expected to be a fastest growing product in the market due to its wide application in medical industry.
Blister packaging safeguards medicines and small medical devices from oxygen, moisture, odour and also increases their shelf life. Blistering materials can also help with temperature fluctuations that can occur during shipping. Even in tropical climates, there is assurance of stability. On the basis of end-user, the market is segmented into hospitals, retail pharmacies and long-term care facilities. The study indicates retail pharmacies segment accounted for the largest market share and long-term care facility is expected to be fastest growing end-user in the market.
Key Findings The Global Multi-Med Adherence Packaging Market is expected to reach USD 364.8 million by 2023. By material, plastic accounted for the largest market share of 57.70% in 2016, with a market value of USD 210.5 million and is projected to grow at the highest CAGR of 6.48% during the forecast period. By product, blister cards accounted for the largest market share of 86.60% in 2016, with a market value of USD 315.9 million and is projected to grow at the highest CAGR of 6.11% during the forecast period. By end-user, retail pharmacies accounted for the largest market share of 42.60% in 2016, with a market value of USD 155.4 million and is projected to grow at a CAGR of 6.01% during the forecast period. Also, long term care facility was the second-largest market in 2016, valued at USD 120.7 million in 2016; it is projected to grow at the highest CAGR of 6.29%. Geographically, North America accounted for the largest share in Global Multi-Med Adherence Packaging Market followed by Europe.
Key Players The major players operating in this market, who have adopted these strategies, are 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.)
Objective of Global Multi-Med Adherence Packaging Market Analysis & Forecast, from 2017 to 2023 Region-level demand analysis and forecast of the study market Study of the effect of exogenous & endogenous factors viz. demographic, economic and political factors, which affect the Global Multi-Med Adherence Packaging Market Porters five forces market analysis to determine competitive scenario Segment and sub-segment level analysis of the market over the historical as well as forecast period Identification of key factors instrumental in the changing market scenario, such as tapping new market opportunities, and gaining competitive edge
Target Audience Supplier companies End Users Consultants and Investment Bankers Research Institute / Education Institute
Regional and Country Analysis of Global Multi-Med Adherence Packaging Market estimation and forecast The global multi-med adherence packaging market is expected to grow at a promising rate during the forecast period. North America region dominates the global multi-med adherence packaging market. 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 in North America, U.S. is the largest market for the multi-med adherence packaging. Europe is the second largest market for the global multi-med adherence packaging market. The Europe region is expected to be the fastest growing region for the multi-med adherence packaging market. 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.
The reports also cover country level analysis: North America o US o Canada Europe o Germany o UK o France o Spain o Rest of the Europe Asia-Pacific o China o India o Japan o Rest of Asia-Pacific Rest of the World o South America o Middle East & Africa
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