Smart Medication Packaging Market Size, Share, Analysis, Trends, Growth, 2032

Smart Medication Packaging Industry Prospective:

The global smart medication packaging market size was worth around USD 28.97 billion in 2023 and is predicted to grow to around USD 57.52 billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.95% between 2024 and 2032.

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Smart Medication Packaging Market: Overview

Smart medication packaging refers to a range of intelligent medical packaging solutions that aim to improve patient adherence to medications. These advanced tools are used for tracking and monitoring medicines, thus assisting in delivering improved medical care.

Smart medication packaging involves the use of wireless communication systems, sensors, and digital identifiers to execute the expected deliverables. The packaging tool tracks information such as date, time, and quantity of medication consumed by patients, preventing overdose and ensuring accuracy in terms of consuming medicines. Smart medication packaging can prove beneficial for patients who suffer from chronic medical conditions and consume multiple types of medications every day.

Furthermore, the technology has proven widely beneficial for the elderly population since they tend to struggle with treatment and medication adherence.

During the forecast period, the demand for smart medication packaging is expected to grow due to a surge in the number of patients worldwide along with rising technological innovation in the packaging industry. However, the high cost of smart medication packaging could reduce the final growth momentum registered by the market players.

Key Insights: 

• As per the analysis shared by our research analyst, the global smart medication packaging market is estimated to grow annually at a CAGR of around 8.95% over the forecast period (2024-2032)
• In terms of revenue, the global smart medication packaging market size was valued at around USD 28.97 billion in 2023 and is projected to reach USD 57.52 billion by 2032.
• The smart medication packaging market is projected to grow at a significant rate due to the rising number of patients with chronic medical conditions.
• Based on the type, the intelligent packaging segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the application, the hospital segment is anticipated to command the largest market share.
• Based on region, North America is projected to dominate the global market during the forecast period.

Smart Medication Packaging Market: Growth Drivers

Rising number of patients with chronic medical conditions to fuel market expansion rate

The global smart medication packaging market is expected to be dominated by the rising number of patients living with chronic medical conditions. These are long-term diseases that require extensive care, treatment, and medicines. Some of the most common examples of highly prevalent chronic medical conditions include heart disease, cancer, asthma, diabetes, stroke, and chronic obstructive pulmonary disorder (COPD). Patients are required to strictly adhere to medication guidelines provided by the doctor to treat or manage the condition.

For instance, a cancer patient is required to consume an average of 5, extending up to 20 different types of medication every day depending on the treatment plan and the cancer type.

Furthermore, each medication must be consumed in the prescribed dosage to avoid side effects. Adhering to strict medication timetables can be difficult especially when the patient’s overall wellbeing is already compromised. The number of patients with chronic conditions is increasing with every passing year due to several environmental and biological factors creating a growth scope for intelligent medication packaging solutions.

Increasing digitalization of the healthcare industry will promote market expansion rate during the forecast period

The global healthcare industry is undergoing transformational changes according to recent industry statistics. The medical care sector is witnessing higher integration of advanced technologies such as the Internet of Things (IoT) and mobile applications that aim to improve medical care delivered to patients.

For instance, in October 2024, Samsun, a leading technology company and consumer electronics provider, announced the addition of a Medication tracking feature in the Samsung Health application in the Indian market creating a growth scope for the solutions in the global smart medication packaging market.

Smart Medication Packaging Market: Restraints

Expense-related barriers to affect final industry revenue according to experts

The global smart medication packaging industry is expected to be restricted by the excess cost associated with the development and application of the technology. Smart medication packaging tools leverage intelligent sensors and mobile applications to deliver effective results.

For instance, the average cost of advanced smart medication dispensers can reach over USD 200, especially if it includes cutting-edge features, such as tracking dosage and data analysis. This can lead to limiting the number of consumers for smart medication packaging in the coming years.

Smart Medication Packaging Market: Opportunities

Consistent product innovation to continue opening new growth avenues for the market players

The global smart medication packaging market is expected to generate growth opportunities with the rising rate of production innovation strategies adopted by market players. Consistent innovation is expected to foster creativity in areas such as the final performance of the tool as well as the cost-efficiency offered by the technology.

For instance, in November 2023, Schreiner MediPharm, a leading provider of smart blister packs for clinical trials, announced the extension of its portfolio especially with the introduction of child-resistant and elderly-friendly solutions. The company has partnered with Keystone Folding Box Co. to design and deliver the new offerings in the market. Further product features include the use of integrated electronics to capture dosage history and turn it into a real-time electronic diary for analysis.

Some of the other significant strides in smart medication packaging include pre-filled syringes that patients can administer directly and the use of novel systems that can prevent drug counterfeiting.

In February 2024, ViiV Healthcare, a global specialist in Human Immunodeficiency Virus (HIV company), announced that the drug Dovato (dolutegravir/ lamivudine) will now be available in a blister pack in the US market. The company has designed the package using insights from the HIV community to ensure dosage accuracy.

Smart Medication Packaging Market: Challenges

Regulatory complexities and higher demand for traditional packaging to challenge market expansion

The global smart medication packaging industry is expected to be challenged by the presence of a complex regulatory environment surrounding the packaging of medications and treatment drugs. Each country is governed by a regional framework depending on the existing healthcare infrastructure of the region. Companies must comply with regional laws to avoid penalties and legal actions.

Furthermore, patients continue to show higher comfort with traditional forms of packaging since introducing technical features can be perceived to be complicated by end-users.

Smart Medication Packaging Market: Report Scope

Smart Medication Packaging Market: Segmentation

The global smart medication packaging market is segmented based on type, application, and region.

Based on the type, the global market segments are intelligent packaging, active packaging, and modified atmosphere packaging. In 2023, the highest growth was listed in the intelligent packaging segment. It integrated sophisticated technologies such as Internet-of-Things (IoT) and sensors to ensure medication compliance among patients.

Furthermore, internet smart medication packaging is also equipped to collect critical data and conduct analysis that can be useful in improving patient outlook. According to research, more than 50.01% of patients in developed countries fail to comply with medication timetables.

Based on the application, the global market segments are long-term care facilities, retail pharmacies, hospitals, and others. In 2023, the highest growth was listed in the hospitals segment. The increasing rate of digital growth across major healthcare facilities especially hospitals with advanced facilities is fueling the segmental revenue.

to the University of Minnesota School of Public Health, around 65% of US hospitals are currently using Artificial Intelligence (AI). During the forecast period, long-term care facilities may also generate considerable revenue as the number of patients suffering from chronic illnesses continues to grow.

Smart Medication Packaging Market: Regional Analysis

North America to continue leading the industry during the forecast period

The global smart medication packaging market will be led by North America during the projection period. The increasing expansion of advanced smart medication packaging solutions across North American countries is fueling regional revenue. Smart solutions such as RFID tracking, temperature monitoring systems, and other engineering tools have witnessed widespread adoption across major industries throughout North America. Recent trends indicate that the regional patient population is more inclined toward using digital technologies that simplify medication adherence and following medical treatments.

Europe is a growing market with an exceptional expansion trajectory. Packaging innovation across Europe is fueling the regional demand rate. For instance, in January 2024, Germany witnessed the launch of PillSafe which is a smart medication management system. The tool aims to reduce prescription drug misuse while encouraging medication adherence. It is equipped with an electronic net inside which detects any attempt to misuse the drug.

Furthermore, PillSafe is secured using a three-digit code for added protection. In addition, the surge in the number of patients including international medical care seekers has helped create demand for more streamlined healthcare infrastructure in the European market.

Smart Medication Packaging Market: Competitive Analysis

The global smart medication packaging market is led by players like:

• DuPont de Nemours Inc.
• American Thermal Instruments
• Multisorb Technologies (Filtration Group Corporation)
• Gerresheimer AG
• Avery Dennison Corporation
• RR Donnelley & Sons Company (RRD)
• Berry Global Inc.
• AptarGroup Inc.
• Crown Holdings Inc.
• Zebra Technologies Corporation
• Linde plc
• WestRock Company
• Point Five Packaging LLC
• SEE

The global smart medication packaging market is segmented as follows:

By Type

• Intelligent Packaging
• Active Packaging
• Modified Atmosphere Packaging

By Application

• Long-term Care Facilities
• Retail Pharmacies
• Hospitals
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa