Major Strategies adopted by Prominent Key Players to Dominate the Global Adherence Packaging Market

(IT-NEWSWIRE.COM, March 09, 2019 ) The report "Adherence Packaging Market by System (Unit-dose, Multi-dose) Type (Blister Card, Pouch) Material (Plastic, Paper & Paperboard, Aluminum) End User (Retail, Long-term care facility, Hospital, Mail-order Pharmacies) - Global Forecast to 2022", The Adherence Packaging Market witnessed healthy growth rate during the last decade and is expected to grow at a CAGR of 6.2% between 2017 and 2022 to reach USD 917.7 Million by 2022.

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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%. The adherence packaging market is consolidated in nature with the top five players commanding a major share of the market. In 2016, Cardinal Health, Inc. (U.S.), Omnicell, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Talyst, LLC (U.S.), and Parata Systems LLC (U.S.) dominated the adherence packaging market and accounted for approximately 55 to 60% share of the global adherence packaging market.

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Based on packaging type, the blister cards segment dominated the adherence packaging market. The large share and high growth of this segment can be attributed to enhanced medication shelf life, better tamper resistance, easy storage & transport, reduced medicine dispensing time, and improved medication adherence. By material, the adherence packaging market is classified into plastic film, paper & paperboard, and aluminum. The plastic film segment is expected to register the highest CAGR during the forecast period. The growth can be attributed to its transparency, malleability, lightweight, and cost-effectiveness.

The major end users of adherence packaging market are retail pharmacies, long-term care facilities, and hospitals. Long-term care is the fastest growing end user segment in the medication adherence packaging market during the forecast period. In 2016, the retail pharmacies dominated the adherence packaging market. Growing need to prevent dispensing errors and thereby improving the operational capacity are the factors driving the adoption of adherence packaging in retail pharmacies.

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Cardinal Health, Inc. dominated the global adherence packaging market in 2016. The company offers Dispill multi-dose Packaging, which is a safer and easier way to help patients adhere to their medication schedules. The company has a strong presence in the U.S. and earns the majority of its revenue from sales in the U.S. The company is focusing on developing products. For instance, in 2014, Cardinal Health launched medication therapy management solution to make it easier for retail pharmacies to improve patient medication adherence. Cardinal Health also focuses on acquisitions to strengthen its position in the market. For instance, in 2015 Cardinal health acquired Medication Therapy Management. This acquisition helped the company to help payers, retail pharmacies, hospitals, and IDNs deliver medication therapy management (MTM) services to eligible patients.

The key players in the adherence packaging market are Omnicell, Inc. (U.S.), McKesson Corporation (U.S.) , Becton, Dickinson and Company (U.S.), Parata Systems LLC (U.S), KUKA AG (Germany), TCGRx (U.S.), RxSafe, LLC (U.S.), ARxIUM Inc. (U.S.), and Talyst Systems LLC. (U.S.).

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Major Strategies adopted by Prominent Key Players to Dominate the Global Adherence Packaging Market