Global Medication Management Market

Global Medication Management Market Size, Share, Growth Analysis, By Type(Computerised Physician Order Entry (CPOE) Systems, Automated Dispensing Systems (ADS)), By Application(Medication Dispensing Systems, Computerised Physician Order Entry (CPOE)) - Industry Forecast 2023-2030


Report ID: SQMIG35F2012 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 75

Global Medication Management Market Insights

Medication Management Market size was valued at USD 2.52 billion in 2021 and is poised to grow from USD 2.79 billion in 2022 to USD 6.3 billion by 2030, growing at a CAGR of 10.7% in the forecast period (2023-2030).

The global medication management market is experiencing significant growth and is expected to continue its upward trajectory in the coming years. Medication management refers to the process of efficiently and effectively managing medications throughout their lifecycle, including prescribing, dispensing, administration, and monitoring. This market analysis will provide insights into the current state of the global medication management market, key drivers and challenges, market segmentation, and major players in the industry. One of the primary drivers of the medication management market is the increasing prevalence of chronic diseases and the subsequent rise in medication consumption. With the ageing population and changing lifestyles, the incidence of chronic conditions such as diabetes, cardiovascular diseases, and respiratory disorders has surged. This has created a greater need for accurate and safe medication management systems to prevent medication errors, improve patient adherence, and enhance overall treatment outcomes. Moreover, technological advancements and the integration of digital solutions in healthcare have revolutionised the medication management landscape. The advent of electronic health records (EHRs), electronic prescribing systems, and medication administration systems has streamlined medication-related processes, reduced errors, and improved patient safety. These digital solutions enable healthcare providers to efficiently manage patient medication profiles, track prescriptions, and provide real-time alerts and reminders, enhancing the overall medication management process.

US Medication Management Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.52 billion

Largest Segment

Automated Dispensing Systems

Fastest Growth

Automated Dispensing Systems

Growth Rate

10.7% CAGR

Global Medication Management By Country ($ Bn)
Country Share for North America Region (%)
Global Medication Management By Type ($ Bn)
Global Medication Management By Type (%)

To get more reports on the above market click here to Buy The Report

Global Medication Management Market Segmental Analysis

The global medication management market is segmented by type, application, and region. Based on type, the market can be segmented into Computerised Physician Order Entry (CPOE) Systems, Automated Dispensing Systems (ADS), Medication Administration Software, Inventory Management Systems and Others. Based on application, the market is segmented into Medication Dispensing Systems, Computerised Physician Order Entry (CPOE), Clinical Decision Support Systems (CDSS), Medication Administration Systems, Inventory Management Systems, Medication Tracking and Monitoring and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Medication Management By Type, 2021 (%)

To get detailed analysis on other segments, Request For Free Sample Report

Global Medication Management Market Regional Insights

In the global medication management market, the most dominant region is North America. North America, comprising countries such as the US and Canada, holds a significant share in the medication management market due to several factors. The region has a well-established healthcare infrastructure, advanced technological capabilities, and a high adoption rate of healthcare IT solutions. Additionally, factors such as the presence of major pharmaceutical companies, government initiatives for healthcare digitization, and a growing ageing population contribute to the dominance of North America in the medication management market.

On the other hand, the fastest-growing region in the global medication management market is the Asia-Pacific region. Countries like China, India, Japan, and South Korea are witnessing rapid economic growth, increased healthcare expenditure, and advancements in healthcare infrastructure. The rising awareness about the importance of medication adherence, improving healthcare access, and the increasing prevalence of chronic diseases are driving the demand for medication management solutions in the Asia-Pacific region. Additionally, government initiatives promoting digitization of healthcare and the expanding pharmaceutical and healthcare sectors are contributing to the rapid growth of the medication management market in this region.

Global Medication Management By Geography, 2023-2030
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Medication Management Market Dynamics

Medication Management Market Drivers

Aging Population and Chronic Diseases

  • The increasing prevalence of chronic diseases and the global ageing population have created a demand for effective medication management. The elderly population, who often require multiple medications, face challenges in adhering to complex medication schedules. Medication management systems offer solutions by organising medication schedules, providing reminders, and monitoring adherence. These systems cater to the specific needs of the elderly population, improving medication management and enhancing patient outcomes.

Request Free Customization of this report to help us to meet your business objectives.

Global Medication Management Market Competitive Landscape

The global medication management market is a dynamic and highly competitive industry that revolves around the efficient and safe management of medication throughout the healthcare ecosystem. It encompasses various technologies, solutions, and services aimed at optimising medication administration, monitoring, and adherence. The competitive landscape of the medication management market is characterised by the presence of numerous key players, including technology providers, pharmaceutical companies, healthcare providers, and software developers.

Medication Management Market Top Player’s Company Profiles

  • McKesson Corporation (US)
  • BD (Becton, Dickinson and Company) (US)
  • Omnicell, Inc. (US)
  • Cerner Corporation (US)
  • Siemens Healthineers AG (Germany)
  • Capsa Healthcare (US)
  • GE Healthcare (US)
  • Allscripts Healthcare Solutions, Inc. (US)
  • Swisslog Healthcare (Switzerland)
  • Baxter International Inc. (US)
  • CareFusion Corporation (US)
  • Epic Systems Corporation (US)
  • AmerisourceBergen Corporation (US)
  • Talyst, LLC (US)
  • Parata Systems, LLC (US)
  • Omnicare, Inc. (US)
  • Pfizer Inc. (US)
  • Cardinal Health, Inc. (US)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Medtronic plc (Ireland)

Global Medication Management Key Market Trends

  • One of the key trends in the medication management market is the increasing adoption of cloud-based solutions. Cloud-based solutions offer a number of advantages over traditional on-premises solutions, such as scalability, flexibility, and security.
  • Another key trend in the medication management market is the growing demand for mobile-based solutions. Mobile-based solutions allow patients to access their medication management information from anywhere, at any time. This is especially beneficial for patients who are on multiple medications or who have chronic diseases.

Global Medication Management Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the global medication management analysis, one of the key drivers identified in the report is the increasing emphasis on patient safety and the need for efficient medication administration. With the rising complexity of medication regimens and the risk of medication errors, healthcare providers are increasingly adopting medication management systems to enhance patient safety and minimise adverse drug events. This factor is expected to drive the demand for advanced medication management solutions across healthcare settings. The report also highlights the growing adoption of electronic health records (EHRs) and the integration of medication management systems with EHR platforms.

The integration of medication management systems with EHRs enables seamless information exchange, improves medication reconciliation, and enhances medication adherence. As healthcare organisations strive to achieve interoperability and streamline medication-related processes, the demand for integrated medication management solutions is anticipated to witness significant growth. Furthermore, the report identifies the increasing geriatric population as a significant demographic driver for the medication management market. The elderly population often requires multiple medications, making medication management a critical aspect of their healthcare. The implementation of medication management systems can help healthcare providers in effectively managing medication schedules, reducing medication errors, and improving patient outcomes in this vulnerable population segment.

Report Metric Details
Market size value in 2021 USD 2.52 billion
Market size value in 2030 USD 6.3 billion
Growth Rate 10.7%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Computerised Physician Order Entry (CPOE) Systems, Automated Dispensing Systems (ADS), Medication Administration Software, Inventory Management Systems, and Others.
  • Application
    • Medication Dispensing Systems, Computerised Physician Order Entry (CPOE), Clinical Decision Support Systems (CDSS), Medication Administration Systems, Inventory Management Systems, Medication Tracking and Monitoring, and Others.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • McKesson Corporation (US)
  • BD (Becton, Dickinson and Company) (US)
  • Omnicell, Inc. (US)
  • Cerner Corporation (US)
  • Siemens Healthineers AG (Germany)
  • Capsa Healthcare (US)
  • GE Healthcare (US)
  • Allscripts Healthcare Solutions, Inc. (US)
  • Swisslog Healthcare (Switzerland)
  • Baxter International Inc. (US)
  • CareFusion Corporation (US)
  • Epic Systems Corporation (US)
  • AmerisourceBergen Corporation (US)
  • Talyst, LLC (US)
  • Parata Systems, LLC (US)
  • Omnicare, Inc. (US)
  • Pfizer Inc. (US)
  • Cardinal Health, Inc. (US)
  • F. Hoffmann-La Roche Ltd (Switzerland)
  • Medtronic plc (Ireland)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Medication Management Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Medication Management Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Medication Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medication Management Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medication Management Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Medication Management Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Medication Management Market size was valued at USD 2.52 billion in 2021 and is poised to grow from USD 2.79 billion in 2022 to USD 6.3 billion by 2030, growing at a CAGR of 10.7% in the forecast period (2023-2030).

The global medication management market is a dynamic and highly competitive industry that revolves around the efficient and safe management of medication throughout the healthcare ecosystem. It encompasses various technologies, solutions, and services aimed at optimising medication administration, monitoring, and adherence. The competitive landscape of the medication management market is characterised by the presence of numerous key players, including technology providers, pharmaceutical companies, healthcare providers, and software developers. 'McKesson Corporation (US)', 'BD (Becton, Dickinson and Company) (US)', 'Omnicell, Inc. (US)', 'Cerner Corporation (US)', 'Siemens Healthineers AG (Germany)', 'Capsa Healthcare (US)', 'GE Healthcare (US)', 'Allscripts Healthcare Solutions, Inc. (US)', 'Swisslog Healthcare (Switzerland)', 'Baxter International Inc. (US)', 'CareFusion Corporation (US)', 'Epic Systems Corporation (US)', 'AmerisourceBergen Corporation (US)', 'Talyst, LLC (US)', 'Parata Systems, LLC (US)', 'Omnicare, Inc. (US)', 'Pfizer Inc. (US)', 'Cardinal Health, Inc. (US)', 'F. Hoffmann-La Roche Ltd (Switzerland)', 'Medtronic plc (Ireland)'

The increasing prevalence of chronic diseases and the global ageing population have created a demand for effective medication management. The elderly population, who often require multiple medications, face challenges in adhering to complex medication schedules. Medication management systems offer solutions by organising medication schedules, providing reminders, and monitoring adherence. These systems cater to the specific needs of the elderly population, improving medication management and enhancing patient outcomes.

One of the key trends in the medication management market is the increasing adoption of cloud-based solutions. Cloud-based solutions offer a number of advantages over traditional on-premises solutions, such as scalability, flexibility, and security.

In the global medication management market, the most dominant region is North America. North America, comprising countries such as the US and Canada, holds a significant share in the medication management market due to several factors. The region has a well-established healthcare infrastructure, advanced technological capabilities, and a high adoption rate of healthcare IT solutions. Additionally, factors such as the presence of major pharmaceutical companies, government initiatives for healthcare digitization, and a growing ageing population contribute to the dominance of North America in the medication management market.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Medication Management Market

Product ID: SQMIG35F2012

$5,300
BUY NOW GET FREE SAMPLE