Medication Management Market: Global Industry Forecast (2022-2027) by Product Type, Mode of Delivery, End User, and Region

Medication Management Market size was valued at US$ 2.92 Bn. in 2021 and the total Medication Management revenue is expected to grow at 19.5% through 2022 to 2027, reaching nearly US$ 8.50 Bn.

Medication Management Market Overview:

Medication management means monitoring, medication reconciliation, and assuring patients achieve their desired results. To design treatment plans and monitor their safety and effectiveness, it is necessary to conduct a thorough examination of prescribed medication and its potential side effects. Treatment errors can result in unpleasant or serious side effects make the medication ineffective or even result in patient death. Effective drug management services reduce disease and mortality rates, making healthcare safer and more reliable. Getting the right usage of medicines has the potential to enhance not just patient outcomes but also patient safety. Increased hospital expenditure to improve workflows is fuelling the growth of the medication management system market. Medication Management Market To know about the Research Methodology:- Request Free Sample Report In this report, the Medication Management market's growth reasons, as well as the market's many segments (Product Type, Mode of Delivery, End User, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Medication Management market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Medication Management market situation. Medication Management Market Dynamics: Improved medication management is a high priority for healthcare organizations The most significant reason for a healthcare organization to focus on improving its medication management system is to improve patient care. An excellent medication management program may help patients receive the right medicines at the right time for the right causes, as well as assist patients to take their medications correctly. When all of these actions are taken, the risk of adverse drug events (ADEs) or other medication-related problems is reduced, and the chances of successful treatment rise. Another reason why healthcare institutions should prioritize medication management is that there are financial benefits potentially significant ones to strengthening a system. Such advantages have the potential to not only cover the costs of making the necessary changes to achieve program improvements, but also to provide a significant return on investment for a healthcare organization. There are also significant potential financial rewards for patients. The rapid increase in the number of prescriptions globally is expected to drive even greater use of medication management solutions in healthcare facilities. The rise in challenges faced by healthcare professionals for efficient management of clinical operations, streamlined workflow, and reduced healthcare costs drive the demand for automated solutions in healthcare facilities. Rapid expansion in prescriptions has raised the responsibility of healthcare practitioners to properly manage patients' prescriptions and reduce pharmaceutical mistakes. Thus, an increase in the number of prescriptions is one crucial factor driving the market growth. In addition, a shortage of pharmacists and healthcare professionals will further boost the adoption of IT solutions in healthcare facilities. Hospitals are increasing their expenditures to improve clinical procedures and are acquiring new software to manage workflow, which is projected to drive market growth. Increased R&D Activities will open up the door for market growth The continuing R&D initiatives in the medication management market will result in noticeable changes during the forecast period. The usage of new technology to develop fresh products and services is ensuring the medication management market's prospective growth. The increased inclination of a large part of the population for medication management will open up new avenues of growth for the medication management market. Restraint for the Medication Management Market However, the Medication management market will be hampered by inadequate healthcare infrastructure in developing nations. Some people are extremely allergic to medicines. The allergic reaction is strong and sudden, and it might result in difficulties breathing and a decrease in blood pressure (anaphylactic shock). These may impact the growth of the market. In addition, the lack of knowledge about medical management would have an impact on market growth. Medication Management Market 1

Medication Management Market Segment Analysis:

By Product Type, the Computerized provider order entry (CPOE) segment is the process through which clinicians enter and submit treatment instructions – such as medicine, laboratory, and radiology prescriptions – using a computer program rather than paper, fax, or phone. Instead of writing prescriptions by hand, doctors may use this technology to order medicines, tests, consultations, and other medical products and services online. Medication mistake rates can be reduced by up to 86 % when a CPOE module is paired with a clinical decision support system. Medication Management Market 2 By Mode of Delivery, the cloud-based solution segment has held 53.2 percent of the Medication Management Market in 2020. Several businesses are working on cloud-based deployment solutions to facilitate information sharing with clients and other stakeholders. Access to information in remote locations is anticipated to be a significant element driving demand for commercially available cloud solutions. Furthermore, the focus on patient data privacy and the implementation of related regulations are expected to boost the market in the coming years. By End User, the hospital segment held the largest share of the medication management market and is one of the most important end-users of IT systems in 2020. In recent years, hospitals have begun to invest a lot of money in the procurement and upgrade of their IT systems. They are concentrating on increasing workflow efficiency, safely delivering medicine, and streamlining complicated healthcare operations. These techniques have allowed hospitals to dominate the market. The pharmacy segment is expected to grow with a CAGR of 37 percent over the forecast period. Some of the primary factors driving the development of medication management in pharmacies are an increase in the number of prescriptions and a shortage of pharmacists. The use of automated technologies in pharmacies is intended to reduce pharmacist effort and help in the effective management of patient prescriptions. Furthermore, the increased prevalence of chronic and infectious illnesses is expected to increase the number of prescriptions filled by pharmacies. These are expected to boost demand for automated management during the forecast period.

Medication Management Market Regional Insights:

In North America, the medication management market is predicted to grow significantly in terms of revenue during the forecast period. Rising medication management implementation across the region will be a critical growth driver. The increasing requirement for medication management due to the rising prevalence of chronic diseases may bring in innovations in this specific area creating a playfield of chances for the North American medication management market. In the Asia Pacific region, the Medication Management Market is expected to develop significantly throughout the forecast period, owing to a growing geriatric population, increasing disposable income, and an increase in health expenditure, particularly in countries such as India, China, Singapore, Thailand, and others. The objective of the report is to present a comprehensive analysis of the Medication Management market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Medication Management market dynamics, and structure by analyzing the market segments and projecting the Medication Management market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Medication Management market make the report investor’s guide.

Medication Management Market Scope: Inquire before buying

Global Medication Management Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.92   Bn.
Forecast Period 2022 to 2027 CAGR: 19.5% Market Size in 2027: US $ 8.50 Bn.
Segments Covered: by Product Type • Computerized Physician Order Entry • Clinical Decision Support System Solutions • Electronic Medication Administration Record • Inventory Management Solutions • Other Product Types
by Mode of Delivery • Web-based • Cloud-based • On-premise
by End User • Pharmacies • Hospitals • Others

Medication Management Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Medication Management Market Key Players

• Talyst • Hospira, Inc. • Baxter International, Inc. • B.Braun Melsungen AG • Meditech • Omnicell, Inc. • Quadramed Corporation • Optum Inc. • Cerner Corporation • Mckesson Corporation • Siemens Healthcare (Subsidiary Of Siemens Ag) • GE Healthcare • Carefusion Corporation • Allscripts Healthcare Solutions, Inc. • Medical Information Technology, Inc. • Epic Systems Corporation • Becton Dickinson and Company • ARxIUM, BD • Medication Management Systems Inc. • BIQHS • Wiegand AG • NEXUS AG • Genoa • Cardinal Health

FAQs:

1. Which is the potential market for Medication Management in terms of the region? Ans. In the APAC region, a growing geriatric population, increasing disposable income, and an increase in health expenditure are potential for market growth. 2. What is expected to drive the growth of the Medication Management market in the forecast period? Ans. The rapid increase in the number of prescriptions globally is expected to drive even greater use of medication management solutions in healthcare facilities. 3. What is the projected market size & growth rate of the Medication Management Market? Ans. The medication Management Market size was valued at US$ 2.92 Bn. in 2021 and the total Medication Management revenue is expected to grow at 19.5% through 2022 to 2027, reaching nearly US$ 8.50 Bn. 4. What segments are covered in the Medication Management Market report? Ans. The segments covered are Product Type, Mode of Delivery, End User, and Region.
1. Global Medication Management Market: Research Methodology 2. Global Medication Management Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Medication Management Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Medication Management Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Medication Management Market Segmentation 4.1 Global Medication Management Market, by Product Type (2022-2027) • Computerized Physician Order Entry • Clinical Decision Support System Solutions • Electronic Medication Administration Record • Inventory Management Solutions • Other Product Types 4.2 Global Medication Management Market, by Mode of Delivery (2022-2027) • Web-based • Cloud-based • On-premise 4.3 Global Medication Management Market, by End-User (2022-2027) • Pharmacies • Hospitals • Others 5. North America Medication Management Market(2022-2027) 5.1 North America Medication Management Market, by Product Type (2022-2027) • Computerized Physician Order Entry • Clinical Decision Support System Solutions • Electronic Medication Administration Record • Inventory Management Solutions • Other Product Types 5.2 North America Medication Management Market, by Mode of Delivery (2022-2027) • Web-based • Cloud-based • On-premise 5.3 North America Medication Management Market, by End-User (2022-2027) • Pharmacies • Hospitals • Others 5.4 North America Medication Management Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe Medication Management Market (2022-2027) 6.1. European Medication Management Market, by Product Type (2022-2027) 6.2. European Medication Management Market, by Mode of Delivery (2022-2027) 6.3. European Medication Management Market, by End-User (2022-2027) 6.4. European Medication Management Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Medication Management Market (2022-2027) 7.1. Asia Pacific Medication Management Market, by Product Type (2022-2027) 7.2. Asia Pacific Medication Management Market, by Mode of Delivery (2022-2027) 7.3. Asia Pacific Medication Management Market, by End-User (2022-2027) 7.4. Asia Pacific Medication Management Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Medication Management Market (2022-2027) 8.1 Middle East and Africa Medication Management Market, by Product Type (2022-2027) 8.2. Middle East and Africa Medication Management Market, by Mode of Delivery (2022-2027) 8.3. Middle East and Africa Medication Management Market, by End-User (2022-2027) 8.4. Middle East and Africa Medication Management Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Medication Management Market (2022-2027) 9.1. South America Medication Management Market, by Product Type (2022-2027) 9.2. South America Medication Management Market, by Mode of Delivery (2022-2027) 9.3. South America Medication Management Market, by End-User (2022-2027) 9.4 South America Medication Management Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Talyst 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Hospira, Inc. 10.3 Baxter International, Inc. 10.4 B.Braun Melsungen AG 10.5 Meditech 10.6 Omnicell, Inc. 10.7 Quadramed Corporation 10.8 Optum Inc. 10.9 Cerner Corporation 10.10 Mckesson Corporation 10.11 Siemens Healthcare (Subsidiary Of Siemens Ag) 10.12 GE Healthcare 10.13 Carefusion Corporation 10.14 Allscripts Healthcare Solutions, Inc. 10.15 Medical Information Technology, Inc. 10.16 Epic Systems Corporation 10.17 Becton Dickinson and Company 10.18 ARxIUM, BD 10.19 Medication Management Systems Inc. 10.20 BIQHS 10.21 Wiegand AG 10.22 NEXUS AG 10.23 Genoa 10.24 Cardinal Health

About This Report

Report ID 6541
Category Healthcare
Published Date Aug 2019
Updated Date May 2022
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