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Demand for Medication Adherence Solutions Predicted to Surge in Asia-Pacific in Future
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There are several causes of chronic diseases including various environmental factors, oxidative stress, and genetic factors. Chronic ailments require proper clinical intervention for their management and treatment. This is attained by adopting patient-centric medication adherence programs. The other major factor propelling the worldwide demand for medication adherence programs is the burgeoning requirement for advanced medication adherence devices around the world. The lack of proper coordination among patients and healthcare professionals severely affects the cost and quality of patient care.
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Furthermore, the medication adherence market is predicted to advance at a CAGR of 15.5% between 2020 and 2030. Depending on product, the market is divided into hardware-centric and software-centric products. Between these, the hardware-centric category is predicted to record faster growth in the market in the future years. This will be because the prominent players operating in the industry are focusing on launching various hardware-centric items such as the Smart Wireless Pill Bottles developed by AdhereTech Inc.
Globally, the medication adherence market will demonstrate the fastest growth in Asia-Pacific (APAC) in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This is ascribed to the rising implementation of favorable government initiatives regarding the adoption of medication adherence programs by healthcare centers in the region. For example, the National Heart Foundation in Australia has initiated the development of various comprehensive resources that provide exhaustive information regarding medication adherence management.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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