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 expected to experience significant market growth, driven by several key factors. These include increasing demand for solutions that support medication adherence, a rising prevalence of chronic diseases, and growing government initiatives promoting better health outcomes. However, market expansion may be tempered by certain restraints, such as the high costs associated with the installation and maintenance of adherence packaging systems.
In North America, medication non-adherence (MNA) continues to impose a substantial burden on the healthcare system. According to the World Health Organization (WHO), MNA is a critical challenge in the management of chronic diseases, with non-adherence rates averaging around 50%. This issue leads to approximately US$ 213 billion in wasteful and avoidable healthcare spending annually in the U.S. alone. Of this, US$ 105.4 billion is directly attributed to the non-adherence to medications for chronic disease treatment. Diabetes alone accounts for an estimated US$ 24.6 billion of these costs, excluding additional expenditures from related complications such as cardiovascular disease.
In 2012, medication non-adherence in the U.S. was estimated to cause 125,000 deaths and contribute to 10% of all hospitalizations, resulting in an economic burden of approximately US$ 528 billion.
Medication adherence remains a significant challenge in diabetes management, particularly during the initial stages of treatment. Nearly 50% of patients with type 2 diabetes fail to take at least 80% of their prescribed medication in the first year of therapy. Studies suggest that for every 1% improvement in adherence among 1,000 diabetes patients, healthcare systems can save approximately US$ 65,464 in all-cause medical costs.
The chronic nature of diabetes and the lifelong reliance on medication underscore the need for improved adherence strategies. Fortunately, recent advancements in medication adherence technologies are beginning to alleviate the burden by offering innovative and user-friendly solutions that support patients and healthcare providers alike.
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.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
