According to Data Bridge Market Research new Market report, global medication management system market will account to an estimated USD 1.73 billion in 2018 growing at a CAGR of 20% during the forecast period of 2019 to 2026.
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Medication management involves taking care of patient with effective and correct drug management. They prepare proper care plans so that they can solve drug therapy problems. This also helps them to evaluate and monitor whether the treatment provided by them is effective or not. . They do so by looking for any contraindications, unnecessary medications and other ways to improve care from a pharmaceutical care point of view.
Global medication management system market is segmented on the basis of metal form, production method, compaction technique, metal powder and geography.
By Software Type(Computerized Physician Order Entry, Clinical Decision Support System Solutions, Electronic Medication Administration Record, Inventory Management Solutions) , Mode of Delivery (On-premise, Web-based and Cloud-based), End User (Hospitals, Pharmacies and Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN MEDICATION MANAGEMENT SYSTEM MARKET
Increased levels of healthcare spending
According to Organization for Economic Co-Operation and Development, there has been a constant growth in the expenditure incurred by various countries in US dollars per capita; the highest expenditure incurred globally was of United States from 2015-2017, with Switzerland coming second, Luxembourg coming third, Norway and Germany following on fourth and fifth respectively. This subsequent rise in the levels of healthcare expenditure is one of the major drivers behind the growth and adoption of medication management system
Key Market Competitors:
Few of the major market competitors currently working in the global medication management system market are Allscripts, Healthcare Solutions., ARxIUM, BD, Cerner Corporation, GE Healthcare, McKesson Corporation, Medication Management Systems Inc., Omnicell Inc, Talyst, LLC, QuadraMed Affinity Corporation.
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