The global Medication Management System market size was valued at USD 2.3 billion in 2021 and is projected to expand at a CAGR of 11.2% from 2022 to 2030.
Medication Management System Market Overview
The growing demand for IT solutions in the healthcare industry and ultimately the increasing adoption of healthcare IT services is driving the medication management system market. Moreover, increasing investments by hospitals to improve the quality of treatment services is another factor contributing to the growth of the medication management system market. According to the International Diabetes Federation, global spending on diabetes care is projected to increase from $760 billion to $845 billion between 2019 and 2045. Chronic diseases such as diabetes, if left untreated, can have life-threatening effects on the cardiovascular, renal and nervous systems and are a leading cause of death worldwide. However, lack of awareness about medication administration systems in developing countries and high costs associated with medication administration systems are other factors hampering the growth of the medication administration systems market.
The Medication Management System has recently published by Contrive Datum Insights to its huge database which helps to shape the future of the businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static as well as dynamic aspects of the global Medication Management System market.
Some Of the key players study are the
Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: TOM Medications (Switzerland), Synapse Medicine (France), Hero (US), AiCure (US), Taking Medicine (UK), Cureatr (US), Pillo Health (US), and Emocha (US), Omnicell, Cerner, McKesson, Medication Management Systems, Talyst, GE, Becton, Dickinson, Allscripts and among others, and others.
- In 2021, Emocha Health, a digital health company that dramatically improves medication adherence for patients with chronic and infectious diseases, has announced the closing of a $6.2 million Series A funding round. This round was led by Claritas Health Ventures. Other participants include CareFirst BlueCross BlueShield's innovation and investment arm Healthworx, Kapor Capital, PTX Capital and TCP Venture Capital.
What are the major Applications, Types, and Regions for the Medication Management System Market?
- Software Type
- End Use
- Mode of Delivery
- Share Analysis
- Competition Intelligence
- DROT Analysis
- Market Dynamics and Challenges
- Strategic Growth Initiatives
- Computerized Physician Order Entry
- Clinical Decision Support System Solutions
- Electronics Medication Administration Record
- Inventory Management Solutions, Others
Medication Management System Market Regional Insights:
The North American market is expected to account for the largest share, accounting for 63.4% of the global Medication Management System market in 2014. It is followed by Europe, Asia Pacific and other countries. The United States dominated the North American market in 2014, driving growth in the region. In 2014, the drug management market in Europe was mainly dominated by Germany and the United Kingdom. Increasing government funding and budget allocation to the healthcare sector, and increasing adoption of healthcare IT are expected to aid the growth of drug management technologies. Germany is the European leader. On the other hand, the Asia Pacific (APAC) and Middle East regions are estimated to witness the highest growth over the next five years. Growing government funding for healthcare infrastructure modernization coupled with growing aging population and growing need for appropriate medications are expected to drive the growth of this market in the APAC region.
Geographically, the global Medication Management System market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, Middle East, and India. The global region is dominating this market in the upcoming future.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Medication Management System Market report scope:
Frequently Asked Questions (FAQ) about the Medication Management System market:
What is the CAGR of the global Medication Management System market?
The Medication Management System Market is growing at a CAGR of 11.2% During Forecast Period.
Which region would offer high growth for vendors in the Medication Management System market?
The North American market is expected to account for the largest share, accounting for 63.4% of the global Medication Management System market
Which Is the Most potential market segment?
By Types- Computerized Physician Order Entry, Clinical Decision Support System Solutions, Electronics Medication Administration Record, Inventory Management Solutions, Others
By Applications - Hospital, Pharmacies, Others
Which are the top industry players in the Medication Management System market?
TOM Medications (Switzerland), Synapse Medicine (France), Hero (US), AiCure (US), Taking Medicine (UK), Cureatr (US), Pillo Health (US), and Emocha (US)
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