A Comprehensive Study exploring High Performance Covid19 Impact on Medication Management Market| MRFR

 Market Insights

Medication management is an approach to understand the purpose of the medications and its timely administration in the correct manner. Adherence to a medication regimen is vital especially for geriatrics and patients with multiple chronic conditions. Failing to comply with a medication regimen is often cited as a paramount reason why patients are readmitted in the hospital following discharge. 

Market Research Future predicted that the global Medication Management system Market is set to reach the highest CAGR of 13.4% through the forecast period, 2018-2023.

Medication management focuses on improving medication use for the patient's condition. Interventions may include medication alignment, medication management, patient / family education about medications, and patient medication configuration simulations.

The growing geriatric population is one of the most important factors in the drug management market. Older people often have significant comorbidities that increase drug use and the risk of poor outcomes. According to a 2018 study published in Clinical Epidemiology, polypharmacy affects between 40% and 50% of older people in countries with high-income. Polypharmacy increases the risk of drug-related side effects in older people because more drugs are associated with a higher risk of harmful drug interactions. Several other factors, such as the emergence of funds in the healthcare sector and the need to reduce healthcare costs, are some of the drivers of the market.

However, the high costs of software implementation and service maintenance can hinder the market growth during the forecast period.

Regional Outlook

The United States has dominated the global drug management market. This growth can be ascribed to the rise in the elderly population and the presence of the main market players in the region.

Europe ranked second in 2017 due to the presence of developed economies such as the United Kingdom, Germany, France, and other countries in the region, which is an engine for market growth.

The Asia Pacific region is likely to see the fastest growth in 2017. Factors such as health technology sector growth, increasing market penetration in the region, and growing government support for foreign investment provide regional markets in the region. Asia Pacific.

In addition, the Middle East and Africa had the lowest share of the global drug management market due to the existence of low per capita income and poor economies, especially in the African region. The Middle East region is considered an important market for the Middle East and Africa region.

Market Segmentation

Global Medication Management Market – Segmentation

For ease of understanding, the MRFR analysis has been segmented into five key dynamics: -

By Systems : Computerized Physician Order Entry Systems, Administration Software, Clinical Decision Support Systems, Inventory Management Systems, Automated Dispensing Systems, and Assurance Systems among others. 

By Services : Point-of-Care Verification Services and Adverse Drug Effects (ADE) Surveillance Services among others. 

By Mode of Delivery : Web-based Solutions, On-premise Solutions, and Cloud-based Solutions among others.

By End-user : Hospitals and Pharmacies among others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

 Major Players

The leading players that are supporting the functioning of the global medication management market include General Electric Company, Siemens Ltd, Medical Information Technology, QuadraMed Affinity Corporation, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation, Omnicell, Inc., Carefusion Corporation, Epic Systems Corporation, and Optum Inc.

Recent Updates

• Omnicell, Inc., a leading  of medication management solutions for healthcare and pharmacy systems, has announced that Mercy, one of five US healthcare systems for Oklahoma, Arkansas, Missouri, and Kansas, will take over the management of medication in your service network through its Omnicell's automation and intelligence solutions. Omnicell works with major healthcare systems, such as Mercy, and the company launches its vision for independent pharmacies, a step-by-step plan for developing a fully automated zero-error drug management infrastructure. Based on automation, data intelligence, and specialized services, the autonomous pharmacy will allow pharmacists, nurses, physicians, and pharmacist staff to focus on patient and physician satisfaction.

Read More @ https://www.marketresearchfuture.com/reports/medication-management-market-7187 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Latest Updates: Medication management market Size, Trends and Growth by 2023

 Market Insights

Market Research Future predicted that the global Medication management market is set to reach the highest CAGR of 13.4% through the forecast period, 2018-2023.

Medication management focuses on improving medication use for the patient's condition. Interventions may include medication alignment, medication management, patient / family education about medications, and patient medication configuration simulations.

The growing geriatric population is one of the most important factors in the drug management market. Older people often have significant comorbidities that increase drug use and the risk of poor outcomes. According to a 2018 study published in Clinical Epidemiology, polypharmacy affects between 40% and 50% of older people in countries with high-income. Polypharmacy increases the risk of drug-related side effects in older people because more drugs are associated with a higher risk of harmful drug interactions. Several other factors, such as the emergence of funds in the healthcare sector and the need to reduce healthcare costs, are some of the drivers of the market.

However, the high costs of software implementation and service maintenance can hinder the market growth during the forecast period.

Market Segmentation

The global Medication management System market is segmented based on systems, services, delivery methods, and end-user.

The global system-based medication management market is divided into computerized physician order entry systems, clinical decision support systems, administration software, inventory management systems, automated dispensing systems, and assurance systems. Administration software segment is further classified as Bar Code Drug Delivery Software (BCMA) and Electronic Drug Management Software (eMAR). The automatic distributor's segment is further classified as centralized automated distribution systems and decentralized automated distribution systems (ADS). A centralized automated dosing system includes robots / dosing systems and automated carousels. The decentralized automated dispensing system (ADS) comprises automated decentralized unit dose metering systems, pharmacy-based decentralized automated dispensing systems, and service-based decentralized automated dispensing systems.

The services market segment is subdivided into point-of-care verification services and drug side effects monitoring.

The global market, on the basis of delivery mode, is divided into on-premise solutions, web-based solutions, and cloud-based solutions.

The market is segmented into pharmacies, hospitals, healthcare facilities, research institutes, and others, based on end-user.

Major Players

The leading players that are supporting the functioning of the global medication management market include General Electric Company, Siemens Ltd, Medical Information Technology, QuadraMed Affinity Corporation, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation, Omnicell, Inc., Carefusion Corporation, Epic Systems Corporation, and Optum Inc.

Recent Updates

• Omnicell, Inc., a leading  of medication management solutions for healthcare and pharmacy systems, has announced that Mercy, one of five US healthcare systems for Oklahoma, Arkansas, Missouri, and Kansas, will take over the management of medication in your service network through its Omnicell's automation and intelligence solutions. Omnicell works with major healthcare systems, such as Mercy, and the company launches its vision for independent pharmacies, a step-by-step plan for developing a fully automated zero-error drug management infrastructure. Based on automation, data intelligence, and specialized services, the autonomous pharmacy will allow pharmacists, nurses, physicians, and pharmacist staff to focus on patient and physician satisfaction.

Regional Outlook

The United States has dominated the global drug management market. This growth can be ascribed to the rise in the elderly population and the presence of the main market players in the region.

Europe ranked second in 2017 due to the presence of developed economies such as the United Kingdom, Germany, France, and other countries in the region, which is an engine for market growth.

The Asia Pacific region is likely to see the fastest growth in 2017. Factors such as health technology sector growth, increasing market penetration in the region, and growing government support for foreign investment provide regional markets in the region. Asia Pacific.

In addition, the Middle East and Africa had the lowest share of the global drug management market due to the existence of low per capita income and poor economies, especially in the African region. The Middle East region is considered an important market for the Middle East and Africa region.

Read More @ https://www.marketresearchfuture.com/reports/medication-management-market-7187 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Global Medication Management Market (2018-2023) | MRFR

 Medication management is an approach to understand the purpose of the medications and its timely administration in the correct manner. Adherence to a medication regimen is vital especially for geriatrics and patients with multiple chronic conditions. Failing to comply with a medication regimen is often cited as a paramount reason why patients are readmitted in the hospital following discharge. 

Free Sample PDF Avvailable Here !! https://www.marketresearchfuture.com/sample_request/7187

In such scenarios, medication management services have been proving to be effective providing medication reconciliation, medication therapy management, patient/family education on medications and medication set-up simulations for the patient. Many home care providers have also started to make in-home medication management a core component of their operations.

For many aging populaces, relinquishing medication management services to a third party is one of the easier options. And it’s becoming a market differentiator among seniors looking for reliable, competent and service-minded companies to manage one of their most critical medical issues. Also, for the patients suffering from chronic illnesses who usually have to administer and monitor 10-12 medications per day, resorting to smart medication management systems which promote their wellbeing becomes useful. 

As a result, the uptake of medication management is growing which, in turn, is increasing the size of the global medication management market. Moreover, the recent trend of prescription medicine is escalating the market on the global platform. 

Considering the colossal growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global medication management market will grow exponentially by 2023, registering approximately 13.4% CAGR throughout the forecast period (2018 – 2023).

Additional factors helping the market to boost further are the ever-increasing population, geriatric populaces, and increased occurrence of chronic diseases which are growing the need for the medication management solutions.

Advancements in IT technology and increasing uptake of healthcare IT for efficient management are expected to increase the size of the market. Furthermore, the rising government supports and the need for curtail healthcare costs without compromising the quality of care are some of the factors impacting the growth of the market, positively. 

On the other hand, factors such as high software implementation and service maintenance costs are impeding the growth of the market. Nevertheless, the advantages that medication management offers allowing the consolidation of all expenses which consequently saves the further cost of patient care is expected to act as a major tailwind supporting the growth of the market. 

for care management solutions.  Moreover, the increasing healthcare expenditures are escalating the market on the global platform, increasing the need to curtail cost without compromising the quality of care.

Global Medication Management Market – Segmentation

For ease of understanding, the MRFR analysis has been segmented into five key dynamics: -

By Systems : Computerized Physician Order Entry Systems, Administration Software, Clinical Decision Support Systems, Inventory Management Systems, Automated Dispensing Systems, and Assurance Systems among others. 

By Services : Point-of-Care Verification Services and Adverse Drug Effects (ADE) Surveillance Services among others. 

By Mode of Delivery : Web-based Solutions, On-premise Solutions, and Cloud-based Solutions among others.

By End-user : Hospitals and Pharmacies among others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

 

Medication Management Market – Regional Analysis

The North American region, heading with the presence of numerous key players is estimated to retain its dominance over the global medication management market. This region accounts for the best of the medical facilities around the world, and so is the higher rate of patients which along with the robust economy and high healthcare expenditure drive the medication management market in the region. 

Furthermore, the increasing number of polypharmacy, hospitals, and ambulatory centers alongside the well-developed technology drive the market growth in the region, meeting the higher demand of a vast patient population. 

The medication management market in the European region accounts for the next-largest market share, globally. Factors allowing the market to substantiate include the increasing demand for management software & platforms, strong government support, and availability of funds among others. Western European region backed by the presence of well-developed economies such as the U.K., Germany, and France holds a significant share in the regional market. Indeed, the resurging economy is playing a vital role in the growth of the market, making the high cost of medication affordable and increasing per capita income in this region. 

The Asia Pacific medication management market has emerged as a profitable market, globally. Factors such as the rapidly proliferating healthcare sector that is led by the improving economy, the increasing number of players, increasing government’s support and foreign investments, and vast technological advancements are impacting the regional market, positively. Additionally, the growing number of patients suffering from chronic diseases alongside the increasing per capita healthcare expenditure provide impetus to the growth of the market.

The Asia Pacific together accounts for over 41% of the global population, and most of the APAC countries are in the developing phase which leads to providing immense opportunities for the market players. Larger countries such as China and India backed by the densely populated area are considered as the biggest market for the Medication Management Products in the region. 

Global Medication Management Market – Competitive Analysis 

The medication management market appears fiercely competitive with the presence of several large and small players. The key strategies traced from the analysis of recent market developments include agreement & partnership, product launch, acquisition, and expansion.  International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional players to compete with them.

Major Players:

Key players leading the global medication management market include Mckesson Corporation, Allscripts Healthcare 0Electric Company, Medical Information Technology, Inc., Optum Inc., Omnicell, Inc., QuadraMed Affinity Corporation, and Siemens Ltd among others.

Industry, Innovation & Related News 

March 06, 2019 ---- BrightSpring Health Services (the US) a leading provider of comprehensive home and community-based health services announced its merge with the PharMerica (the US), a pharmacy powerhouse to position itself to lead the medication management, potentially.

BrightSpring hopes to effectively address medication needs while also providing caregiver services by providing its clients the right medications suiting their ailments in a timely and reliable manner and then helping to make sure they do so consistently. 

The merging deal will give BrightSpring a footprint with difficult-to-top proximity to the patients and clients it serves including behavioral health and specialty populations, along with older adults. KKR an affiliate of Walgreens Boots Alliance Inc. and a global investment firm had recently acquired BrightSpring (formerly ResCare) as part of the deal. 

Read Complete Report With Toc @ https://www.marketresearchfuture.com/reports/medication-management-market-7187

 About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com 

Medication Management Market 2020- Global Trends, News, Key Values, Report and Forecast

 Medication management is an approach to understand the purpose of the medications and its timely administration in the correct manner. Adherence to a medication regimen is vital especially for geriatrics and patients with multiple chronic conditions. Failing to comply with a medication regimen is often cited as a paramount reason why patients are readmitted in the hospital following discharge. 

Free Sample PDF Avvailable Here !! https://www.marketresearchfuture.com/sample_request/7187

In such scenarios, medication management services have been proving to be effective providing medication reconciliation, medication therapy management, patient/family education on medications and medication set-up simulations for the patient. Many home care providers have also started to make in-home medication management a core component of their operations.

For many aging populaces, relinquishing medication management services to a third party is one of the easier options. And it’s becoming a market differentiator among seniors looking for reliable, competent and service-minded companies to manage one of their most critical medical issues. 

Also, for the patients suffering from chronic illnesses who usually have to administer and monitor 10-12 medications per day, resorting to smart medication management systems which promote their wellbeing becomes useful. 

As a result, the uptake of medication management is growing which, in turn, is increasing the size of the global medication management market share. Moreover, the recent trend of prescription medicine is escalating the market on the global platform. 

Considering the colossal growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global medication management market will grow exponentially by 2023, registering approximately 13.4% CAGR throughout the forecast period (2018 – 2023).

Additional factors helping the market to boost further are the ever-increasing population, geriatric populaces, and increased occurrence of chronic diseases which are growing the need for the medication management solutions.

Advancements in IT technology and increasing uptake of healthcare IT for efficient management are expected to increase the size of the market. Furthermore, the rising government supports and the need for curtail healthcare costs without compromising the quality of care are some of the factors impacting the growth of the market, positively. 

On the other hand, factors such as high software implementation and service maintenance costs are impeding the growth of the market. Nevertheless, the advantages that medication management offers allowing the consolidation of all expenses which consequently saves the further cost of patient care is expected to act as a major tailwind supporting the growth of the market. 

 for care management solutions.  Moreover, the increasing healthcare expenditures are escalating the market on the global platform, increasing the need to curtail cost without compromising the quality of care.

 

Global Medication Management Market – Segmentation

For ease of understanding, the MRFR analysis has been segmented into five key dynamics: -

By Systems : Computerized Physician Order Entry Systems, Administration Software, Clinical Decision Support Systems, Inventory Management Systems, Automated Dispensing Systems, and Assurance Systems among others. 

By Services : Point-of-Care Verification Services and Adverse Drug Effects (ADE) Surveillance Services among others. 

By Mode of Delivery : Web-based Solutions, On-premise Solutions, and Cloud-based Solutions among others.

By End-user : Hospitals and Pharmacies among others.

By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.

 

Medication Management Market – Regional Analysis

The North American region, heading with the presence of numerous key players is estimated to retain its dominance over the global medication management market. This region accounts for the best of the medical facilities around the world, and so is the higher rate of patients which along with the robust economy and high healthcare expenditure drive the medication management market in the region. 

Furthermore, the increasing number of polypharmacy, hospitals, and ambulatory centers alongside the well-developed technology drive the market growth in the region, meeting the higher demand of a vast patient population. 

The medication management market in the European region accounts for the next-largest market share, globally. Factors allowing the market to substantiate include the increasing demand for management software & platforms, strong government support, and availability of funds among others. Western European region backed by the presence of well-developed economies such as the U.K., Germany, and France holds a significant share in the regional market. Indeed, the resurging economy is playing a vital role in the growth of the market, making the high cost of medication affordable and increasing per capita income in this region. 

The Asia Pacific medication management market has emerged as a profitable market, globally. Factors such as the rapidly proliferating healthcare sector that is led by the improving economy, the increasing number of players, increasing government’s support and foreign investments, and vast technological advancements are impacting the regional market, positively. Additionally, the growing number of patients suffering from chronic diseases alongside the increasing per capita healthcare expenditure provide impetus to the growth of the market.

The Asia Pacific together accounts for over 41% of the global population, and most of the APAC countries are in the developing phase which leads to providing immense opportunities for the market players. Larger countries such as China and India backed by the densely populated area are considered as the biggest market for the Medication Management products in the region.

 

Global Medication Management Market – Competitive Analysis 

The medication management market appears fiercely competitive with the presence of several large and small players. The key strategies traced from the analysis of recent market developments include agreement & partnership, product launch, acquisition, and expansion.  International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional players to compete with them.

Major Players:

Key players leading the global medication management market include Mckesson Corporation, Allscripts Healthcare 0Electric Company, Medical Information Technology, Inc., Optum Inc., Omnicell, Inc., QuadraMed Affinity Corporation, and Siemens Ltd among others.

Industry, Innovation & Related News 

March 06, 2019 ---- BrightSpring Health Services (the US) a leading provider of comprehensive home and community-based health services announced its merge with the PharMerica (the US), a pharmacy powerhouse to position itself to lead the medication management, potentially.

BrightSpring hopes to effectively address medication needs while also providing caregiver services by providing its clients the right medications suiting their ailments in a timely and reliable manner and then helping to make sure they do so consistently. 

The merging deal will give BrightSpring a footprint with difficult-to-top proximity to the patients and clients it serves including behavioral health and specialty populations, along with older adults. KKR an affiliate of Walgreens Boots Alliance Inc. and a global investment firm had recently acquired BrightSpring (formerly ResCare) as part of the deal. 

Read Complete Report With Toc @ https://www.marketresearchfuture.com/reports/medication-management-market-7187

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com  

 

Global Trends On Medication Management Market Demand By Top Companies, Size, Report and Analysis

 Medication management is an approach to understand the purpose of the medications and its timely administration in the correct manner. Adherence to a medication regimen is vital especially for geriatrics and patients with multiple chronic conditions. Failing to comply with a medication regimen is often cited as a paramount reason why patients are readmitted in the hospital following discharge. 

Free Sample PDF Available Here !! https://www.marketresearchfuture.com/sample_request/7187

In such scenarios, medication management services have been proving to be effective providing medication reconciliation, medication therapy management, patient/family education on medications and medication set-up simulations for the patient. Many home care providers have also started to make in-home medication management a core component of their operations.

For many aging populaces, relinquishing medication management services to a third party is one of the easier options. And it’s becoming a market differentiator among seniors looking for reliable, competent and service-minded companies to manage one of their most critical medical issues. 

Also, for the patients suffering from chronic illnesses who usually have to administer and monitor 10-12 medications per day, resorting to smart medication management systems which promote their wellbeing becomes useful. 

As a result, the uptake of medication management is growing which, in turn, is increasing the size of the global medication management market. Moreover, the recent trend of prescription medicine is escalating the market on the global platform. 

Considering the colossal growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global medication management market will grow exponentially by 2023, registering approximately 13.4% CAGR throughout the forecast period (2018 – 2023).

Additional factors helping the market to boost further are the ever-increasing population, geriatric populaces, and increased occurrence of chronic diseases which are growing the need for the medication management solutions.

Advancements in IT technology and increasing uptake of healthcare IT for efficient management are expected to increase the size of the market. Furthermore, the rising government supports and the need for curtail healthcare costs without compromising the quality of care are some of the factors impacting the growth of the market, positively. 

On the other hand, factors such as high software implementation and service maintenance costs are impeding the growth of the market. Nevertheless, the advantages that medication management offers allowing the consolidation of all expenses which consequently saves the further cost of patient care is expected to act as a major tailwind supporting the growth of the market. 

 for care management solutions.  Moreover, the increasing healthcare expenditures are escalating the market on the global platform, increasing the need to curtail cost without compromising the quality of care.

 

Global Medication Management Market     – Segmentation

For ease of understanding, the MRFR analysis has been segmented into five key dynamics: -

By Systems                          : Computerized Physician Order Entry Systems, Administration Software, Clinical Decision Support Systems, Inventory Management Systems, Automated Dispensing Systems, and Assurance Systems among others. 

By Services                          : Point-of-Care Verification Services and Adverse Drug Effects (ADE) Surveillance Services among others. 

By Mode of Delivery        : Web-based Solutions, On-premise Solutions, and Cloud-based Solutions among others.

By End-user                         : Hospitals and Pharmacies among others.

By Regions                          : North America, Europe, Asia Pacific, and the Rest-of-the-World.

 

Medication Management Market – Regional Analysis

The North American region, heading with the presence of numerous key players is estimated to retain its dominance over the global medication management market. This region accounts for the best of the medical facilities around the world, and so is the higher rate of patients which along with the robust economy and high healthcare expenditure drive the medication management market in the region. 

Furthermore, the increasing number of polypharmacy, hospitals, and ambulatory centers alongside the well-developed technology drive the market growth in the region, meeting the higher demand of a vast patient population. 

The medication management market in the European region accounts for the next-largest market share, globally. Factors allowing the market to substantiate include the increasing demand for management software & platforms, strong government support, and availability of funds among others. Western European region backed by the presence of well-developed economies such as the U.K., Germany, and France holds a significant share in the regional market. Indeed, the resurging economy is playing a vital role in the growth of the market, making the high cost of medication affordable and increasing per capita income in this region. 

The Asia Pacific medication management market has emerged as a profitable market, globally. Factors such as the rapidly proliferating healthcare sector that is led by the improving economy, the increasing number of players, increasing government’s support and foreign investments, and vast technological advancements are impacting the regional market, positively. Additionally, the growing number of patients suffering from chronic diseases alongside the increasing per capita healthcare expenditure provide impetus to the growth of the market.

The Asia Pacific together accounts for over 41% of the global population, and most of the APAC countries are in the developing phase which leads to providing immense opportunities for the market players. Larger countries such as China and India backed by the densely populated area are considered as the biggest market for the Medication Management products in the region.

 

Global Medication Management Market – Competitive Analysis 

The medication management market appears fiercely competitive with the presence of several large and small players. The key strategies traced from the analysis of recent market developments include agreement & partnership, product launch, acquisition, and expansion.  International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional players to compete with them.

Major Players:

Key players leading the global medication management market include Mckesson Corporation, Allscripts Healthcare 0Electric Company, Medical Information Technology, Inc., Optum Inc., Omnicell, Inc., QuadraMed Affinity Corporation, and Siemens Ltd among others.

Industry, Innovation & Related News 

March 06, 2019 ---- BrightSpring Health Services (the US) a leading provider of comprehensive home and community-based health services announced its merge with the PharMerica (the US), a pharmacy powerhouse to position itself to lead the medication management, potentially.

BrightSpring hopes to effectively address medication needs while also providing caregiver services by providing its clients the right medications suiting their ailments in a timely and reliable manner and then helping to make sure they do so consistently. 

The merging deal will give BrightSpring a footprint with difficult-to-top proximity to the patients and clients it serves including behavioral health and specialty populations, along with older adults. KKR an affiliate of Walgreens Boots Alliance Inc. and a global investment firm had recently acquired BrightSpring (formerly ResCare) as part of the deal. 

Read Complete Report With Toc @ https://www.marketresearchfuture.com/reports/medication-management-market-7187

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com 

 

 

 

Attractive Market Opportunities in Medication Management Market Grow at a significant rate

The global medication management market size is expected to exhibit a strong 13.4% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global medication management market is mainly driven by the growing geriatric population and the growing awareness about medication management, which has led to a raft of new products in the market. The report assesses the probabilities of the market’s various growth trajectories through the 2018-2023 forecast period and delivers a detailed analysis of the market’s major growth drivers and restraints. The leading factors enabling growth of the medication management market are assessed in detail in the report. The major restraints hampering the market growth are also profiled in the report, providing a complete overview of the market. The leading players operating in the global medication management market are also profiled in the report, providing readers with a complete overview of the competitive landscape of the market. 

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Medication management is a key part of healthcare services and tracks medication from its acquisition in hospitals to its consumption by the patient. The medication management market has emerged as a major part of the healthcare sector mainly due to the growing geriatric population around the world. Geriatrics often have multiple prescriptions and thus need to remember their dosages accurately. They may also suffer from memory disorders, making them unreliable in terms of sticking to their medication schedule. This has led to a growing number of medication management products coming into the market in recent years. The growing geriatric population in the U.S., Canada, and Western Europe is likely to be the major driver for the global medication management market over the forecast period. The growing geriatric population in Asia Pacific countries such as Japan, China, and India is also likely to be a key driver for the global medication management market over the forecast period.

Rising investment in healthcare IT is also likely to be a major driver for the global medication management market over the forecast period. Healthcare IT solutions have become increasingly important over the last few years, as data-driven decision making has become increasingly popular in the healthcare sector. On the other hand, the high costs of installing and maintaining medication management systems could constrict the market’s chances of further growth over the forecast period. 

Competitive Analysis:

Leading players in the global medication management market include Siemens Ltd., QuadraMed Affinity Corporation, Optum Inc., Omnicell Inc., Medical Information Technology Inc., McKesson Corporation, General Electric Company, and Allscripts Healthcare. 

In January 2020, Medisafe, a leading provider of medication management solutions, announced the inclusion of pharmacy services in its range of services. This includes the ability for patients to refill their prescriptions as well as having them delivered to their doorstep. 

Segmentation:

The global medication management market is segmented based on systems, services, mode of delivery, end user, and region.

By systems, the global market for medication management is segmented into computerized physician order entry systems, clinical decision support systems, administration software, inventory management systems, automated dispensing systems and assurance systems. The administration software segment is further classified as electronic medication administration records (eMAR) software and bar code medication administration (BCMA) software. The automated dispensing systems segment is further classified as centralized automated dispensing systems and decentralized automated dispensing systems (ADS); centralized automated dispensing system includes robots/robotic automated dispensing systems and carousels, while decentralized automated dispensing system (ADS) includes pharmacy-based decentralized automated dispensing systems, ward-based decentralized automated dispensing systems and automated unit-dose decentralized automated dispensing systems.

By services, the global medication management market is divided into point-of-care verification services and adverse drug effects (ADE) surveillance services.

By mode of delivery, the market is divided into web-based solutions, on-premise solutions, and cloud-based solutions.

Based on end user, the market is segmented into hospitals, pharmacies, and others.

Regional Analysis:

The global medication management market is dominated by North America, followed by Europe, due to the high prevalence of polypharmacy in the region and the presence of several leading healthcare players. Asia Pacific is likely to be the fastest growing regional market over the forecast period due to the growing healthcare sector in the region and the growing geriatric population. 

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Medication Management Market: Competitive Landscape and Recent Industry Development Analysis 2018-2023

Medication management is an approach to understand the purpose of the medications and its timely administration in the correct manner. Adherence to a medication regimen is vital especially for geriatrics and patients with multiple chronic conditions. Failing to comply with a medication regimen is often cited as a paramount reason why patients are readmitted in the hospital following discharge. 

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In such scenarios, medication management services have been proving to be effective providing medication reconciliation, medication therapy management, patient/family education on medications and medication set-up simulations for the patient. Many home care providers have also started to make in-home medication management a core component of their operations.

For many aging populaces, relinquishing medication management services to a third party is one of the easier options. And it’s becoming a market differentiator among seniors looking for reliable, competent and service-minded companies to manage one of their most critical medical issues. 

Also, for the patients suffering from chronic illnesses who usually have to administer and monitor 10-12 medications per day, resorting to smart medication management systems which promote their wellbeing becomes useful. 

As a result, the uptake of medication management is growing which, in turn, is increasing the size of the global medication management market. Moreover, the recent trend of prescription medicine is escalating the market on the global platform. 

Considering the colossal growth, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global medication management market will grow exponentially by 2023, registering approximately 13.4% CAGR throughout the forecast period (2018 – 2023).

Additional factors helping the market to boost further are the ever-increasing population, geriatric populaces, and increased occurrence of chronic diseases which are growing the need for the medication management solutions.

Advancements in IT technology and increasing uptake of healthcare IT for efficient management are expected to increase the size of the market. Furthermore, the rising government supports and the need for curtail healthcare costs without compromising the quality of care are some of the factors impacting the growth of the market, positively. 

On the other hand, factors such as high software implementation and service maintenance costs are impeding the growth of the market. Nevertheless, the advantages that medication management offers allowing the consolidation of all expenses which consequently saves the further cost of patient care is expected to act as a major tailwind supporting the growth of the market. 

 for care management solutions.  Moreover, the increasing healthcare expenditures are escalating the market on the global platform, increasing the need to curtail cost without compromising the quality of care.

Global Medication Management Market    – Segmentation

For ease of understanding, the MRFR analysis has been segmented into five key dynamics: -

By Systems                          : Computerized Physician Order Entry Systems, Administration Software, Clinical Decision Support Systems, Inventory Management Systems, Automated Dispensing Systems, and Assurance Systems among others. 

By Services                          : Point-of-Care Verification Services and Adverse Drug Effects (ADE) Surveillance Services among others. 

By Mode of Delivery        : Web-based Solutions, On-premise Solutions, and Cloud-based Solutions among others.

By End-user                         : Hospitals and Pharmacies among others.

By Regions                          : North America, Europe, Asia Pacific, and the Rest-of-the-World.

Medication Management Market – Regional Analysis

The North American region, heading with the presence of numerous key players is estimated to retain its dominance over the global medication management market. This region accounts for the best of the medical facilities around the world, and so is the higher rate of patients which along with the robust economy and high healthcare expenditure drive the medication management market in the region. 

Furthermore, the increasing number of polypharmacy, hospitals, and ambulatory centers alongside the well-developed technology drive the market growth in the region, meeting the higher demand of a vast patient population. 

The medication management market in the European region accounts for the next-largest market share, globally. Factors allowing the market to substantiate include the increasing demand for management software & platforms, strong government support, and availability of funds among others. Western European region backed by the presence of well-developed economies such as the U.K., Germany, and France holds a significant share in the regional market. Indeed, the resurging economy is playing a vital role in the growth of the market, making the high cost of medication affordable and increasing per capita income in this region. 

The Asia Pacific medication management market has emerged as a profitable market, globally. Factors such as the rapidly proliferating healthcare sector that is led by the improving economy, the increasing number of players, increasing government’s support and foreign investments, and vast technological advancements are impacting the regional market, positively. Additionally, the growing number of patients suffering from chronic diseases alongside the increasing per capita healthcare expenditure provide impetus to the growth of the market.

The Asia Pacific together accounts for over 41% of the global population, and most of the APAC countries are in the developing phase which leads to providing immense opportunities for the market players. Larger countries such as China and India backed by the densely populated area are considered as the biggest market for the Medication Management products in the region.

Global Medication Management Market – Competitive Analysis 

The medication management market appears fiercely competitive with the presence of several large and small players. The key strategies traced from the analysis of recent market developments include agreement & partnership, product launch, acquisition, and expansion.  International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional players to compete with them.

Major Players:

Key players leading the global medication management market include Mckesson Corporation, Allscripts Healthcare 0Electric Company, Medical Information Technology, Inc., Optum Inc., Omnicell, Inc., QuadraMed Affinity Corporation, and Siemens Ltd among others.

Industry, Innovation & Related News 

March 06, 2019 ---- BrightSpring Health Services (the US) a leading provider of comprehensive home and community-based health services announced its merge with the PharMerica (the US), a pharmacy powerhouse to position itself to lead the medication management, potentially.

BrightSpring hopes to effectively address medication needs while also providing caregiver services by providing its clients the right medications suiting their ailments in a timely and reliable manner and then helping to make sure they do so consistently. 

The merging deal will give BrightSpring a footprint with difficult-to-top proximity to the patients and clients it serves including behavioral health and specialty populations, along with older adults. KKR an affiliate of Walgreens Boots Alliance Inc. and a global investment firm had recently acquired BrightSpring (formerly ResCare) as part of the deal. 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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