For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Product Overview
Medication tracking enables medications t- be electronically monitored and validated for prescription, administration, and supply. An integrated method known as drug management is designed t- control and sustain the medicine management cycle. The drug control method for the prescription, delivery, and distribution of medications is used in hospitals. The use of the framework for drug control helps t- reduce the error rates in the administration of medicines. In recent years, there has been an increase in the development of new drugs and medications, the maintenance of the administration of these medications, and the use of a prescription management system for clinical decisions.
Market Highlights
Global Medication Management Market is expected t- project a notable CAGR in 2030.
Global Medication Management Market t- surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e. 2019-30. The rise in the incidence of illnesses is the main factor driving the drug management market. The use of drugs has increased this rise in illnesses, which in turn has increased the rate of drug prescriptions. Thus, the drug control system plays an important role in the healthcare sector in controlling the availability and supply of medicines and medications. The growth of the drug management market is als- being increased by the rising number of geriatric populations suffering from chronic diseases. Owing t- the growing demand for remote patient monitoring services, the industry has seen strong demand for computerized physician order entry systems over the last few years.
Global Medication Management Market: Segments
CPOE Segment t- grow with the highest CAGR during 2019-30
Global Medication Management Market is segmented by software type int- computerized physician order entry (CPOE), clinical decision support system (CDSS), inventory management, administration software, automated dispensing system (ADS), and others. The greater market share in 2019 was accounted for by the CDSS segment owing t- the growth of the clinical decision support system solutions segment are the increasing need t- minimize human errors, increasing demand t- minimize healthcare spending, need for improvement in the standard of treatment, the chronic disease population, and greater adoption rate in emerging economies.
Medication analytics segment t- grow with the highest CAGR during 2019-30
Global Medication Management Market is segmented by service adverse drug experience (ADE) surveillance, medication analytics, and point-of-care verification services. Medication analytics service is expected t- hold a major market share of XX% in 2018 and als- likely t- be the fastest-growing category in the medication management market in the coming years. The key factors such as the growing demand for the advanced healthcare system, drug analytics services accounted for the largest market share. It is als- anticipated that demand for Ade monitoring services will increase at a significant rate during the forecast period.
Web-based solutions segment t- grow with the highest CAGR during 2019-30
Global Medication Management Market is segmented by Mode of Delivery int- web-based solutions, cloud-based solutions, and on-premise solutions. Some of the factors responsible for the growth of the web-based solution segment are low maintenance and IT infrastructure requirements. The web-based systems accounted for the largest share in the market for drug management among all distribution types. Furthermore, cloud-based solutions are expected t- develop at the fastest rate during the forecast period.
Global Medication Management Market: Market Dynamics
Drivers
Rising Number of Clinical Trials
Increased population aging, increased demand for mHealth technology, increased prevalence of chronic diseases, increased spending on health care, and initiatives by government associations t- improve regulatory standards are some of the factors driving the growth of the market for medication management. MHealth systems provide efficient remote monitoring of patients and are inherently cost-effective. Increased use of mobile devices has als- contributed t- the adoption of mHealth technology. Furthermore, in the treatment and control of a disease, this technology has a range of applications.
Enormous Data Mounting from Healthcare Industry
The key growth factors for the medication management market are the rapid rise in the aging population, demand for reduced healthcare costs, technological innovation, and increased demand for remote patient monitoring services. Furthermore, the growing prevalence of chronic diseases is als- driving market development. The growth of the drug management market is als- facilitated by an increased focus on value-based medicine, growing demand for the advanced healthcare system, and increasing assistance from government organizations.
Restraint
High Implementation Costs
When left untreated and responsible for the leading causes of death worldwide, chronic conditions such as diabetes can have life-threatening effects on the cardiovascular, renal, and nervous systems. However, due t- a lack of knowledge of drug management systems in developing countries, higher costs associated with drug management systems are another factor hindering the development of the demand for drug management systems.
Global Medication Management Market: Key Players
A-S Medication Solutions
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
ARxIUM
Becton, Dickinson, and Company
Cerner Corporation
GE Healthcare (GE Company)
McKesson Corporation
Omnicell, Inc.
Talyst, LLC
Global Medication Management Market: Regions
Global Medication Management Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Medication Management Market in North America held the largest market share of XX.X% in the year 2018 due t- the robust implementation of healthcare IT, technological development, an increase in the incidence of infectious and chronic diseases, and an increase in the number of prescriptions in the area are main factors responsible for the dominance of the area. Also, the European market is rising considerably. The increase in healthcare practices in this region is the factor that characterizes this development. China and India are countries in the Asia-Pacific region that contribute significantly t- the market growth due t- factors such as rising rates of infectious diseases, rapid development in the healthcare sector, large populations, and increased knowledge among people.
Competitive landscape:
Global Medication Management market, which is highly competitive, consists of several major players. Companies, such as General Electric Company, QUALCOMM Incorporated hold a substantial market share in the Global Medication Management market. Other players analyzed in this report are Cerner Corporation, Siemens AG, McKesson Corporation, Allscripts Healthcare Solutions Inc., Epic Systems Corporation, and Becton Dickinson and Company among others
Recently, various developments have been taking place in the market. For instance, in January 2018, GE, Roche entered int- the partnership t- develop an integrated digital diagnostics platform t- improve oncology and critical care treatment.
Global Medication Management Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Medication Management Market report als- contains analysis on:
Global Medication Management Market Segments:
By Software Type:
CPOE
CDSS
Medication Administration Software
Inventory Management
ADS
Others
By Service:
Medication Analytics Services
ADE Surveillance Services
Point-Of-Care Verification Services
By Mode of Delivery:
Web-Based
Cloud-Based
On-Premises
By End User:
Hospitals
Pharmacy
Others
Global Medication Management Market Dynamics
Global Medication Management Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints