Report Ocean recently released a research report on the Medication Management Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global medication management market is forecast to reach US$ 13.2 billion by 2027 by growing at a compound annual growth rate (CAGR) of 17.2% during the forecast period from 2021-2030.
Medication management enables the automotive validation of the administration and supply of medicines.
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Factors Influencing
- The growing geriatric population is the primary factor driving the market growth. Moreover, the demand for reduction in the cost associated with healthcare facilities may drive the market for medication management in the coming years. World Health Organization (WHO) estimates that the geriatric population would reach from 524 million in 2010 to 1.5 billion in 2050.
- Technological advancements and the surging necessity for remote patient monitoring services would create several opportunities for the market players.
- The growing cases of chronic diseases would be another factor propelling the market growth. According to the estimations by the World Health Organization, around 17.7 million people died in 2015 due to severe cardiovascular diseases.
- Growing investments from governments for the betterment of healthcare facilities may facilitate the growth of the global medication management market.
- Privacy and safety issues may limit the market growth of the global market in the coming years.
Geographic Overview
Of all the regions, North America held dominance in the global medication management market due to the high prevalence of chronic disease. The Centers for Disease Control and Prevention (CDC) estimates that around 610,000 people die every year in the United States because of heart disease. Apart from that, the growing geriatric population and technological advancements would further accelerate the growth of the North American medication management market. Moreover, growing government funding in healthcare facilities may propel the regional contribution in the coming years. The U.S. Census Bureau estimates that around 43.1 million people were 65 years or more in the United States in 2015. The population is expected to increase to 83.7 million by 2050.
Asia-Pacific may register notable growth in the share, owing to the large population base, increasing prevalence of chronic diseases, and rising geriatric population. All of these factors would create a positive impact n the regional growth in the global medication management market.
COVID-19 Impact Analysis
The COVID-19 pandemic fueled the demand for medication management systems as the healthcare sector witnessed a sudden burden. The cases of the infection grew rapidly. As a result, it increased the demand for efficient technologies.
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Competitors in the Market
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Carefusion Corporation
- Siemens Healthcare
- GE Healthcare
- Optum Inc.
- Epiq System Corporation
- Qualcomm Incorporated
- Quadramed Corporation
- Omnicell, Inc.
- Meditech
- Other prominent players
Market Segmentation:
Medication Management Market by Software:
- Computerized Physician Order Entry
- Clinical Decision Support System
- Administration Software
- Electronic Medication Administration Record (EMAR)
- Barcode Medication Administration (BMA)
- Inventory Management
- Automated Dispensing Systems (ADS)
- Centralized
- Robots
- Carousels
- Decentralized Automated Dispensing Systems
- Centralized
- Pharmacy-based ADS
- Ward-based ADS
- Automated unit-dose Dispensing
- Assurance System Software
Medication Management Market by Services:
- Medication Analytics
- Point-of-Care Verification
- ADE Surveillance
Medication Management Market by End-users:
- Hospitals
- Pharmacy
- Others
Medication Management Market by Mode of Delivery:
- On-premises
- Web-based
- Cloud-based
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Medication Management Market by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Medication Management Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Medication Management market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Medication Management Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Medication Management market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Medication Management market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Medication Management market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Medication Management market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Medication Management business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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