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Medication Management System Market

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Medication Management System Market - Size,
Share, Growth, Outlook, and Opportunity
Analysis, 2018-2026
Medication management system involves the use of different IT based services by retail pharmacies
or hospitals to provide right dose torightpatient at right time. Medication management system is
becoming an essential part of pharmacies across the globe to improve operational efficiency by
avoiding situation of overstocking, understocking, increased drug cost, drug adversity, and dispensing
error. This is done by utilizing automated software and robotics system, which aids in inventory
management, efficient dispensing of medication and better patient tracking thereby improving
productivity. Medication management system plays an important role in management of data, as
number of complex therapies is increasing in clinical practice along with increasing length of
prescriptions, and lack of structured decision making for selecting drug and doses. Physicians and
nurses are facing complexity in their area of function such as large patient pool with requirement of
chronic therapy, which can be eased with the help of medication management system. Managing
bunch of information right from patient data, regulatory compliance to product related data is made
easy due to medication management system.
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Increasing medication error and pool of geriatric patient to drive growth of the medication
management system market worldwide
According to the World Health Organization (WHO) report in 2017, medication error costs US$ 42
billion annually worldwide. This figures suggest increasing demand for medication management
system as essential part of an overall healthcare infrastructure. As per the World Population
Prospect, 2017, Revision report by United Nations, in 2017, around 962 million people under
geriatric category, which would demand for rising primary healthcare and long term care. This
population is likely to face adverse drug event due to likely chance of error made by them in
administering medicine, which can be minimized by using medication management system.
Rise in the prevalence of high blood pressure and increase in chronic kidney disease North
America is expected to hold the dominant position in medication management system market
due presence of healthcare IT infrastructure, high incidence, and prevalence of chronic disease
and high per capita expenditure
North America and especially U.S. is expected to hold the dominant position in the medication
management system market, owing to the high prevalence of chronic disease in the U.S.
According to Centre for Disease Control and Prevention (CDC) review in 2017, seven out of ten
death were from chronic disease in 2014. Also, in 2012, the U.S. had 117 million population with
one or more chronic disease. Thus presence of population with chronic disease would need
efficient medication management, which would propel growth of the medication management
system market. The Agency for Healthcare Research and Quality reported that in 2015, there
were 41.4 adverse drug events per 1000 population especially in therapies, which can be
reduced by utilizing medication management system. Health infrastructure in the U.S. is also
increasingly using IT based services to better manage patient pool. There is expected to be
shortage of nurses and physicians in near future, according to study in 2017 by Association of
American Medical Colleges, U.S. would have a shortage of between 40,800 and 104,900
physicians by 2030, which would create need to adopt medication management system.
Report includes chapters which deeply display the following deliverable about industry :
• Medication Management System Market Research Objective and Assumption
• Medication Management System Market Purview - Report Description, Executive Summary, and
Coherent Opportunity Map (COM)
• Medication Management System Market Dynamics, Regulations, and Trends Analysis - Market
Dynamics, Regulatory Scenario, Industry Trend, Merger and Acquisitions, New system
Launch/Approvals, Value Chain Analysis, Porter’s Analysis, and PEST Analysis
• Global Medication Management System Market, By Regions
• Medication Management System Market Competition by Manufacturers including Production, Share,
Revenue, Average Price, Manufacturing Base Distribution, Sales Area and Product Type.
• Medication Management System Market Manufacturers Profiles/Analysis including Company Basic
Information, Manufacturing Base and Its Competitors.
• Medication Management System Market Manufacturing Cost Analysis including Key Raw Materials
and Key Suppliers of Raw Materials.
• Industrial Chain, Sourcing Strategy and Downstream Buyers including Upstream Raw Materials
Sourcing and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders including Marketing Channel, Market Positioning
and Distributors/Traders List.
• Market Effect Factors Analysis including Technology Progress/Risk, Consumer Needs/Customer
Preference Change and Economic/Political Environmental Change.
• Medication Management System Market Forecast including Production, Consumption, Import and
Export Forecast by Type, Applications and Region.
• Research Findings and Conclusion
Key players in the global Medication Management System market
Key players present in the medication management system market includes Becton,
Dickinson and Company, McKesson Corporation, Allscripts Healthcare Solutions, Inc.,
Omnicell, Inc., Cerner Corporation, Siemens Healthcare, Genoa Healthcare Inc., Swisslog
Healthcare, GE Healthcare, and QuadraMed Affinity Corporation.
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Medication Management System Market Taxonomy
On the basis of system type:
•
•
•
•
Inventory Management Solutions
Computerized Physician Order Entry (CPOE)
Clinical Decision Support System Solutions
Electronic Medication Administration Record
On the basis of mode of delivery:
• Location Based Solution
• Web-based Solution
• Cloud-based Solution
On the basis of end users:
• Hospitals
• Retail Pharmacies
• Home based care
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syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
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Author
Rushikesh
Rushikesh79   documents Email
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