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Rapid Growth and Development to Commercialize The Medical Adherence Market Industry

07-02-2019 12:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Medical Adherence

Medical Adherence

Medical adherence program have high potential to reduce the healthcare cost by improving health outcomes, it only needs to follow some implementations and patient engagement program. Improvement of adherence program will help to grow the medical adherence market.

Medical adherence can be improved by following some assessment methods - direct method and indirect method. Direct observation, measurement of biological markers and measurement of the medicines/metabolite in blood comes under direct assessment method while indirect assessment method behavior or physiological markers assessment, self-reporting through surveys, interviews, through secondary data and by electronic monitoring such as using some mobile apps or by e-pills are indirect methods of measuring medical adherence.

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There are so many reasons behind medical non-adherence but all this are avoidable. Also, some barriers present in medical adherence market are towing to complex drug therapies patient could not understand the treatment and importance of drug. Also, it helps to develop anxiety about the medications.

Fragmentation of healthcare system is causing to increase the communication gap in between patient and doctor. The poor communication in between medication provider and patient, some unintentional facts like forgetfulness of any patient and some socioeconomic factors such as high cost of the medicines and illiteracy of people are the barriers for medical adherence market.

There are several reasons leading to medical non-adherence, the most prominent of them being forgetfulness about taking medication on time, non-affordability of medicines, and lack of awareness about the importance of taking medication in a timely manner.

As per the data of American Heart Association, in U.S. around US$ 290 billion is spent on medication non-adherence yearly, which is avoidable. Also, between 1999 and 2010, around 543,000 stroke survivals reported that they are facing higher cost for health care due to their medication non-adherence. In the global medical adherence market North America holds the largest share, followed by Europe. Also, the continuous growth observed in APAC region in last few years.

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According to the stats of the Million Hearts, out of 100 prescriptions written only 50-70 are received at the pharmacy, and 48-66 purchase the prescribed medication. Out of these only 25-30 takes their medications properly and around only 15-20 refill the medications as prescribed (data based on study conducted in the year 2009).

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Coherent Market Insights
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Email: sales@coherentmarketinsights.com

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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