Market Overview:
The global smart medication packaging market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for advanced and intelligent packaging solutions for medications, rising concerns over product tampering and counterfeiting, and growing adoption of smart packaging by hospitals, retail pharmacies, long-term care facilities, and other end-users. The global smart medication packaging market is segmented on the basis of type into modified atmosphere packaging (MAP), active packaging (AP), and intelligent packaging (IP). The MAP segment is expected to account for the largest share of the global smart medication packaging market in 2018. This can be attributed to its ability to extend product shelf life by controlling oxygen levels and carbon dioxide levels inside packages. The AP segment is projected to grow at a higher CAGR than other segments during the forecast period owing to its ability protect products from external factors such as moisture, light, oxygen, pests/insects/rodents etc., which can cause spoilage or degradation of products over time.
Product Definition:
Smart medication packaging is a technology that allows for the tracking of medications from the time they are manufactured until they are dispensed to patients. This technology can include features such as RFID tags, barcodes, and sensors that monitor environmental conditions. The purpose of smart medication packaging is to improve patient safety by helping to ensure that medications are properly stored and handled throughout the supply chain.
Modified Atmosphere Packaging:
Modified atmosphere packaging (MAP) is a technology that controls and stabilizes the chemical reactions during product storage and delivery. The modified atmosphere inside the container prevents oxidation, degradation, or hydrolysis of pharmaceutical ingredients. It also helps in maintaining the therapeutic integrity of drugs by controlling moisture content & temperature as well as reducing oxygen demand & carbon dioxide production.
The global market for modified atmosphere packaging was valued at USD 5,500 million in 2015.
Active Packaging:
Active packaging is a new term in the industry and it has been gaining popularity over the past few years. It refers to an innovative approach of packing pharmaceutical products that involves using materials to control, monitor and modify drug release from dosage forms. The major aim of active packaging is to protect drugs until they are administered as per prescription by the healthcare professional or consumer.
The global smart medication packaging market size was valued at USD 2,867 million in 2016.
Application Insights:
The hospital segment dominated the global smart medication packaging market in 2017. This can be attributed to factors such as high usage rates of antibiotics and other medications in hospitals. According to a study published by the CDC, around 70% of all antibiotic prescriptions are filled in outpatient settings and 30% are filled in a hospital setting. Furthermore, increasing investments by pharmaceutical companies for the development of technologically advanced systems for packaging drugs will boost growth over the forecast period. For instance, Pfizer developed an app-based system called Medication Reminder that notifies patients about upcoming appointments so that they can plan their time accordingly. The company has also introduced this feature on its painkillers such as Lyrica (pregabalin) and Neurontin (gabapentin).
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to various factors such as high healthcare expenditure, technological advancements, and rising geriatric population prone to numerous diseases requiring long-term treatment.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to increasing disposable income levels and rapid urbanization resulting in improved infrastructure facilities for health care delivery systems along with a growing number of retail pharmacies dispensing medication throughout this region. Moreover, government initiatives encouraging R&D activities for development of new smart packaging solutions are also contributing toward regional growth prospects. For instance, ‘Make in India’ initiative by Indian government aims at promoting manufacturing within country which will create jobs & boost economic activity; it will also help reduce dependence on imports by developing domestic supply chains & manufacturing capabilities required for producing medicines’ (Indian Ministry of Foreign Affairs).
Growth Factors:
- Increasing demand for smart medication packaging from the pharmaceutical and medical device industries to improve patient safety and reduce medication errors.
- Rising prevalence of chronic diseases such as cancer, diabetes, and heart disease that require long-term treatment with multiple medications.
- Growing demand for individually packaged doses of medications to meet the needs of patients with special dietary restrictions or allergies.
- Advances in digital printing technology that allow manufacturers to personalize smart medication packaging with patient-specific information such as name, dosage, and expiration date.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Medication Packaging Market Research Report
By Type
Modified Atmosphere Packaging, Active Packaging, Intelligent Packaging
By Application
Hospital, Retail Pharmacies, Long-term Care Facilities, Other
By Companies
3M, TempTime Corporation, PakSense, American Thermal Instruments, Avery Dennison, R.R. Donnelly Sons & Company, BASF SE, International Paper, Stora Enso, Smartrac N.V.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Smart Medication Packaging Market Report Segments:
The global Smart Medication Packaging market is segmented on the basis of:
Types
Modified Atmosphere Packaging, Active Packaging, Intelligent Packaging
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Retail Pharmacies, Long-term Care Facilities, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 3M
- TempTime Corporation
- PakSense
- American Thermal Instruments
- Avery Dennison
- R.R. Donnelly Sons & Company
- BASF SE
- International Paper
- Stora Enso
- Smartrac N.V.
Highlights of The Smart Medication Packaging Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Modified Atmosphere Packaging
- Active Packaging
- Intelligent Packaging
- By Application:
- Hospital
- Retail Pharmacies
- Long-term Care Facilities
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Medication Packaging Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Medication Packaging is a technology that uses digital packaging to improve the safety, effectiveness, and ease of use of medications. The packages can be customized to reflect the specific needs of individual patients. This technology can help reduce medication errors and waste, as well as save time and money for patients and healthcare providers.
Some of the key players operating in the smart medication packaging market are 3M, TempTime Corporation, PakSense, American Thermal Instruments, Avery Dennison, R.R. Donnelly Sons & Company, BASF SE, International Paper, Stora Enso, Smartrac N.V..
The smart medication packaging market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Medication Packaging Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Medication Packaging Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Medication Packaging Market - Supply Chain
4.5. Global Smart Medication Packaging Market Forecast
4.5.1. Smart Medication Packaging Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Medication Packaging Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Medication Packaging Market Absolute $ Opportunity
5. Global Smart Medication Packaging Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Medication Packaging Market Size and Volume Forecast by Type
5.3.1. Modified Atmosphere Packaging
5.3.2. Active Packaging
5.3.3. Intelligent Packaging
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Medication Packaging Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Medication Packaging Market Size and Volume Forecast by Application
6.3.1. Hospital
6.3.2. Retail Pharmacies
6.3.3. Long-term Care Facilities
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Medication Packaging Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Medication Packaging Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Medication Packaging Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Medication Packaging Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Medication Packaging Demand Share Forecast, 2019-2026
9. North America Smart Medication Packaging Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Medication Packaging Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Medication Packaging Market Size and Volume Forecast by Application
9.4.1. Hospital
9.4.2. Retail Pharmacies
9.4.3. Long-term Care Facilities
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Medication Packaging Market Size and Volume Forecast by Type
9.7.1. Modified Atmosphere Packaging
9.7.2. Active Packaging
9.7.3. Intelligent Packaging
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Medication Packaging Demand Share Forecast, 2019-2026
10. Latin America Smart Medication Packaging Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Medication Packaging Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Medication Packaging Market Size and Volume Forecast by Application
10.4.1. Hospital
10.4.2. Retail Pharmacies
10.4.3. Long-term Care Facilities
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Medication Packaging Market Size and Volume Forecast by Type
10.7.1. Modified Atmosphere Packaging
10.7.2. Active Packaging
10.7.3. Intelligent Packaging
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Medication Packaging Demand Share Forecast, 2019-2026
11. Europe Smart Medication Packaging Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Medication Packaging Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Medication Packaging Market Size and Volume Forecast by Application
11.4.1. Hospital
11.4.2. Retail Pharmacies
11.4.3. Long-term Care Facilities
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Medication Packaging Market Size and Volume Forecast by Type
11.7.1. Modified Atmosphere Packaging
11.7.2. Active Packaging
11.7.3. Inteligent Packaging
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Medication Packaging Demand Share, 2019-2026
12. Asia Pacific Smart Medication Packaging Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Medication Packaging Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Medication Packaging Market Size and Volume Forecast by Application
12.4.1. Hospital
12.4.2. Retail Pharmacies
12.4.3. Long-term Care Facilities
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Medication Packaging Market Size and Volume Forecast by Type
12.7.1. Modified Atmosphere Packaging
12.7.2. Active Packaging
12.7.3. Intelligent Packaging
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Medication Packaging Demand Share, 2019-2026
13. Middle East & Africa Smart Medication Packaging Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Medication Packaging Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Medication Packaging Market Size and Volume Forecast by Application
13.4.1. Hospital
13.4.2. Retail Pharmacies
13.4.3. Long-term Care Facilities
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Medication Packaging Market Size and Volume Forecast by Type
13.7.1. Modified Atmosphere Packaging
13.7.2. Active Packaging
13.7.3. Intelligent Packaging
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Medication Packaging Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Medication Packaging Market: Market Share Analysis
14.2. Smart Medication Packaging Distributors and Customers
14.3. Smart Medication Packaging Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. 3M
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. TempTime Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. PakSense
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. American Thermal Instruments
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Avery Dennison
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. R.R. Donnelly Sons & Company
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. BASF SE
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. International Paper
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Stora Enso
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Smartrac N.V.
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
