Global Medication Management System Market, By Software Type, 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)–Industry Trends & Forecast to 2026
Market Analysis: Global Medication Management System Market
The Global Medication Management System Market is expected to rise from its initial estimated value of USD 1.73 billion in 2018 and is expected to grow to USD 7.43 billion in 2026 registering a CAGR of 20.0% in the forecast period of 2019-2026. This rise in the market can be attributed to advancement in the technology that is enabling the healthcare services to grow in terms of the quality and standard.
Market Definition: Global Medication Management System Market
Comprehensive medication management services are sustained medication therapy management system where pharmacists are to conduct comprehensive medication reviews. They do so by looking for any contraindications, unnecessary medications and other ways to improve care from a pharmaceutical care point of view.
- Increase in investments by the hospitals to improve the quality of treatment services
- Rising demand of the IT solutions in the healthcare sector
- Higher cost associated with medication management systems
- Lack of awareness about medication management systems in the developing countries
Segmentation: Global Medication Management System Market
- By Software Type
- Computerized Physician Order Entry
- Clinical Decision Support System Solutions
- Electronic Medication Administration Record
- Inventory Management Solutions
- By Mode of Delivery
- On premise
- By End-User
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In November 2018, BD introduced integrated medication management platform which is specifically designed to address various hospital related challenges. BD introduced this at the American Society of Health-System Pharmacists (ASHP) 2017 in the midyear meeting.
- In January 2018, GE and Roche entered into the partnership in order to develop integrated digital diagnostics platform which will improve oncology and critical care treatment.
Competitive Analysis: Global Medication Management System Market
The global medication management system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medication management system market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Medication Management System Market
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.
Research Methodology: Global Medication Management System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report:
- Current and future of global medication management system market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)