Medication Management Market Size, Growth and Demand Forecast to 2020


Posted January 4, 2016 by Vijay123

The growing geriatric population and increasing demand of better healthcare management systems around the world are the predominant growth drivers for the global medication management market.
 
The growing numbers of mergers and acquisitions, and increasing adoption of mobile healthcare technologies are some of the major trends observed in the market. Among the various delivery modes, the web-based accounted for the largest market; whereas, the cloud-based was the fastest growing segment in the market. Among the various end-user segments, hospital is the largest and fastest growing segment in the global market.

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Medication errors are the second most common type of medical events reported in healthcare facilities. Among all the medication errors, medicine omission or overdose occurs most frequently. The reduction of all medication errors would significantly improve patient safety and the quality use of medicines.
Medication management systems enable prescribing, supply and administration of medicines to be accomplished electronically. These systems regulate functions of the entire hospital medication procedures, including medicine prescribing by doctors, dispensing of medication by pharmacists, and administration of medicines by nurses. In addition, these systems reduce medication errors through improved prescription legibility, and appropriate dosage calculations.

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The stringent regulation for the installation of medication management systems in healthcare facilities is restraining the growth of the market. Moreover, high installation and maintenance costs of these systems, and lack of skilled healthcare professionals are also hindering the growth of the global market, especially in the developing countries, such as India and China.
North America and Europe are the major markets, due to increasing prevalence of chronic diseases, and improved healthcare infrastructure in the regions. The U.S. followed by Canada, is the largest market for medication management in North America. Whereas, the U.K., Germany and France are some of the major countries holding significant share in the European medication management market.

The Asian market is growing with a significant rate, owing to increasing number of hospitals, and increasing healthcare spending in the region. In addition, the initiatives taken by various government associations for the implementation of these systems in healthcare facilities are also supporting the growth of the Asian medication management market. The countries, such as India, Japan and China, are the major markets in the region.

Apart from these regions, Latin America is other important market. This is due to improving healthcare infrastructure and growing demand of medication management systems in the region. Brazil holds the largest share in the Latin American medication management market, due to the improving healthcare infrastructure and growing support from government organizations for the implementation of these systems in the healthcare facilities of the country.
Some of the major players operating in the global medication management market include Omnicell, Inc., Quadramed Corporation, Optum Inc., Cerner Corporation, Mckesson Corporation, Siemens Ag, GE Healthcare, Carefusion Corporation, MEDITECH, and Allscripts Healthcare Solutions Inc.

Medication Management Market Segmentation
By Software
 Computerized Physician Order Entry (CPOE)
 Clinical Decision Support System (CDSS)
 Inventory Management
 Assurance System Software
 Automated Dispensing Systems (ADS)
o Centralized
o Decentralized
 Administration Software
o Electronic Medication Administration Record (EMAR)
o Barcode Medication Administration (BMA)
By Service
 Medication Analytics
 Point-of-Care Verification
 ADE Surveillance

By End-Users
 Hospitals
 Pharmacies
 Others

By Mode of Delivery
 Web-Based
 Cloud-Based
 On-Premise
By Geography
 North America
o U.S.
o Canada
 Europe
o Germany
o France
o U.K.
o Spain
o Italy
 Asia
o Japan
o China
o India
 Latin America
o Brazil
 Rest of the World

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Tags medication management market , medication management market demand , medication management market growth , medication management market share , medication management market size
Last Updated January 4, 2016