Market Trends of Folding Carton in Healthcare Industry
This section covers the major market trends shaping the Folding Carton In Healthcare Market according to our research experts:
Growing Emphasis of Monitoring and Assisting Patient Medication
- Inadequate medication adherence is a widespread problem that contributes to increasing chronic disease complications and healthcare expenditures. Packaging interventions using pillboxes and blister packs have been widely recommended to address the medication adherence issue, further driving the market.
- Pillboxes, reusable multi-compartment containers with designated spaces for medications to be consumed at a particular time, are another common packaging type. Unlike blister packs, pillboxes do not require professional action, as they can be filled by patients, informal caregivers, or healthcare providers. Multiple healthcare providers recommend both blister packs and pillboxes with folding cartons as secondary packaging with medicine information for aging adults with multiple chronic diseases.
- Several market players are introducing smart packaging solutions that implement folding cartons as secondary packaging to intelligent blister packs for different medicines, with the surging adoption rates.
- For instance, Westrock Company offers Electronic Dosepak (EDP) that records the date and time each dose of medication is taken and transfers the data to its medAmigo software platform for immediate analysis. The EDP is a digitally enabled version of the Dosepak adherence packaging, with customizable medication package with medication information on the outer folding carton and pills delivered inside a calendared blister.
- Furthermore, the August Faller Group designed a prototype for medication packaging that captures the level of an opaque bottle of liquid medicine at the push of a button and delivers it to the patient via an integrated display. It is operated via a small e-paper display on the folding carton packaging and uses electronic controls (buttons).
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Asia Pacific is the Fastest Growing Region for this Market
- Asia-Pacific is one of the fastest-growing regions. It has the highest share in the market, owing to the presence of densely populated countries, such as India and China, as well as the increasing prevalence of the pharmaceutical and healthcare market in these countries.
- The healthcare and pharmaceutical sector in China is one of the world's largest markets, primarily driven by its aging population. China had a population of 249 million, aged 60 years or above, by the end of 2018, making up 17.9% of the national population. The number is expected to reach 487 million in 2050, which means one in every three Chinese would be a senior citizen.
- Moreover, India has a far superior advantage over many nations for the basic manufacturing of medical drugs and products, due to resources, such as high level of workforce, knowledgeable workforce, and WHO-GMP approved production principles.According to the India Brand Equity Foundation (IBEF), the total export value of the pharmaceutical industry in 2019 was USD 19.1 billion.
- The vendors in the region are significantly investing in their capacity and production units to meet the growing demand from the pharmaceutical market. For instance, in September 2019, Parksons Packaging commissioned the country's first HP Indigo 30000 digital press for mono cartons at its Daman plant. The HP Indigo 3000 is a one-of-a-kind, field-proven, digital folding carton press that helps the company address the demand from the healthcare sector.
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