The North America Medication Adherence Packaging market is to reach US$ 518.78 Mn in 2027 from US$ 304.78 Mn in 2018. The market is estimated to grow with a CAGR of 6.3% from 2019-2027.
The market for medication adherence packaging is set for market growth, primarily driven by the increasing demand for such packaging, the rising prevalence of chronic diseases, and supportive government initiatives. However, this growth may be slowed by the high costs associated with the installation and maintenance of these packaging systems.
Medication Non-Adherence: A Significant Burden in North America
North America faces a substantial challenge due to the rising burden of medication non-adherence (MNA) on its healthcare system. The World Health Organization (WHO) identifies MNA as a major clinical problem in managing chronic diseases, with an average non-adherence rate of 50% for any medication. This issue leads to an estimated US$ 213 billion in wasteful and avoidable costs annually, with approximately US$ 105.4 billion per year directly attributable to medication non-adherence for chronic diseases.
Diabetes is a significant contributor to these costs, accounting for US$ 24.6 billion alone, and this figure doesn't even include expenses related to cardiovascular disease or other diabetes-related complications. The lack of patient adherence to prescribed medications places an immense burden on both individuals and national healthcare systems.
In 2012, it was estimated that medication non-adherence in the U.S. resulted in 125,000 deaths and 10% of hospitalizations, costing approximately US$ 528 billion. Specifically for type 2 diabetes, around half of patients fail to take at least 80% of their prescribed medication in their first year of therapy. Improving medication adherence in this group can lead to substantial savings: a 1% increase in adherence among 1,000 diabetic patients could save approximately US$ 65,464 in all-cause costs.
The lifelong dependency on medication for chronic conditions like diabetes presents an ongoing challenge for patients and healthcare providers. Fortunately, recent advancements in medication adherence technology are emerging as crucial tools to alleviate the burden associated with non-adherence.
North America Medication Adherence Packaging market –Segmentation
North America Medication Adherence Packaging Market – By System
- Unit-Dose Packaging Systems
- Multi-Dose Packaging Systems
North America Medication Adherence Packaging Market – By Type
- Blister
- Prefilled Syringes and Injectable
- Vials
- Ampoules
- Others
North America Medication Adherence Packaging Market – By Materials
- Plastics
- Aluminium
- Glass
- Paper and Paperboard
North America Medication Adherence Packaging Market – By Country
- US
- Canada
- Mexico
North America Medication Adherence Packaging market Company Profiles
- McKesson Corporation
- Genoa
- WestRock Company
- Catalyst Healthcare Ltd.
- Omnicell, Inc.
- TCGRx (Parata Systems)
- Swisslog Holding AG (Talyst, LLC.)
- RxSafe, LLC
- Cardinal Health, Inc.
- Accu-Chart Plus
North America Medication Adherence Packaging market Strategic Insights
Strategic insights for the North America Medication Adherence Packaging provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Medication Adherence Packaging market Regional Insights
The geographic scope of the North America Medication Adherence Packaging refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
