Press release
Medication Management Market To Touch USD 6.5 Billion at a 11.5% CAGR by 2030
Medication Management Market Overview:In a recent research report by Market Research Community, the medication management market is expected to surpass USD 6.5 Billion by the year 2030, from USD 2.4 Billion in 2021.
Medication management is a process that evaluates and analyzes the results of prescribed medications with the planned therapeutic outcome. The medication management processes include tasks such as evaluating safety concerns, reduction of adverse drug events, and patient and medical professional training to improve healthcare operations.
Top Key Players of the Medication Management Market:
Allscripts, Becton, Dickinson, and Company (CareFusion), Siemens Healthcare Private Limited, GE Healthcare, Talyst, LLC., McKesson Corporation, Cerner Corporation, QuadraMed Affinity Corporation, Omnicell, Inc., Cardinal Health.
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Types Covered in This Report Are:
Computerized Physician Order Entry, Clinical Decision Support System, Administration Software (Electronic Medication Administration Record (EMAR) And Barcode Medication Administration (BMA)), Inventory Management, Automated Dispensing Systems (ADS) [Centralized(Robots, Carousels), Decentralized Automated Dispensing Systems (Pharmacies-based ADS, Ward-based ADS, Automated Unit-Dose Dispensing)], Assurance System Software
On the Basis of Services:
Medication Analytics
Point-of-Care Verification
ADE Surveillance
By End User:
Hospitals
Pharmacies
Others
Regional Analysis:
North America- (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America- (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA)
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The web-based medication management segment is anticipated to witness substantial growth during the estimated period. The factors such as easy access to patient records, early detection of errors, and low-cost maintenance of databases are expected to support the growth of the web-based segment.
The market is projected to grow at a significant pace reaching a CAGR of approximately 11.5%, over the forecast period of 2022-2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is categorized into major segments and further into sub-segments, such as by product type (computerized physician order entry, clinical decision support system, administration software (Electronic Medication Administration Record (EMAR) And Barcode Medication Administration (BMA)), inventory management, automated dispensing systems (ADS) [centralized(robots, carousels), decentralized automated dispensing systems (pharmacies-based ADS, ward-based ADS, automated unit-dose dispensing)], assurance system software), by services (medication analytics, point-of-care verification, and ADE surveillance), by mode of delivery (on-premises, web-based, and cloud-based), by end-use (hospitals, pharmacies, and others), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 - 2021, considering 2021 as the base year.
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The research provides answers to the following key questions:
What is the expected growth rate of the Medication Management Market? What will be the market size for the forecast period, 2022 - 2030?
What are the major driving forces responsible for transforming the trajectory of the industry?
Who are major vendors dominating the Medication Management industry across different regions? What are their winning strategies to stay ahead in the competition?
What are the market trends business owners can rely upon in the coming years?
What are the threats and challenges expected to restrict the progress of the industry across different countries?
What are the key opportunities that business owners can bank on for the forecast period, 2022 - 2030?
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