The North America Medication Adherence Packaging market is expected 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 rising demand for medication adherence packaging, growing prevalence of chronic diseases and increasing government initiatives are the major driving factors that are estimated to grow the Medication Adherence Packaging market during the forecast period. However, the market is likely to experience slower growth due to high cost of installation and maintenance of medication adherence packaging systems.
There has been tremendous growth in chronic diseases in the region. Rising prevalence of the chronic disease is driving the medication adherence market. Medication adherence is widely used for chronic diseases, mainly for the medication of elderly patients, especially for long term diseases. Elderly patients are more prone to forget everyday drug dosage. Thus rising prevalence of chronic diseases like CVD, cancer, diabetes, and others drive the market growth.
Diabetes is one of the leading causes of global emergencies of the 21st century. The prevalence of the diseases is increasing year on year. For instance, in 2017, according to the International Diabetes Federation (IDF), in 2017, in North America, the number of people with diabetes were approximately 46 million, which is expected to grow at 62 million in 2045. The increase in disease prevalence is around 35% during the forecast period.
Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed in 2018.
The prescription of the chronic diseases demands at least a month-long drug administration and keep track of it. It is well known that the failure to follow the medication caused by non-medication adherence may lead to increased health care and treatment cost, treatment duration, and poor disease outcome. According to the World Health Organization (WHO), rates of medication non-adherence for any medication may vary from 15% to 93%. Medication non-adherence is a major clinical problem in the management of chronic illness.