Medication management system market is anticipated to grow at a significant CAGR of 12.4% during the forecast period (2024-2031). The global medication management system market is driven by factors such as increasing medication errors, growing geriatric populations, and rising chronic disease burden. These factors drive the adoption of medication management systems to automate dispensing, administration, and monitoring processes, reduce adverse drug events, optimize treatment for elderly patients, and enhance patient outcomes. Technological advancements such as electronic health records, AI, and robotics drive innovation in these systems. Compliance with regulatory requirements, such as HIPAA and EU MDR, ensures medication safety and management. Prioritizing patient safety and quality of care drives the adoption of these systems. Healthcare digitalization and interoperability promote the integration of these systems with other healthcare IT platforms. Cost containment pressures and patient empowerment also contribute to the growth of the market.
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The rising global prescription volume and medicine spending underscore the need for efficient medication management systems to streamline workflows, enhance safety, and optimize medication utilization, ultimately improving patient outcomes. According to the IQVIA, in 2020, there were a total of 6.3 billion prescriptions dispensed, showing a modest growth rate of 1.7% after accounting for the use of 90-day prescriptions for chronic therapies. Additionally, US medicine spending experienced a slight increase of 0.8% on a net price basis, reaching $359.0 billion. This increase highlights the widening gap between list or invoice prices and manufacturer net revenues.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Medication Management System Market by Product Type
- Computerized Physician Order Entry
- Clinical Decision Support System Solutions
- Electronic Medication Administration Record
- Inventory Management Solutions
- Others (Medication Dispensing Systems, and Pharmacy Automation Systems)
Global Medication Management System Market by Mode of Delivery
- Web-based
- Cloud-based
- On-premise
Global Medication Management System Market by End User
- Pharmacies and Retail Drug Outlets
- Hospitals and Clinics
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- A-S Medication Solutions.
- athenahealth, Inc.
- Baxter International, Inc.
- Becton, Dickinson and Co.
- Cerner Corp.
- eClinicalWorks, LLC
- Epic Systems Corp.
- Fresenius Kabi AG
- InterSystems Corp.
- McKesson Corp.
- Medical Information Technology, Inc.
- Omnicell, Inc.
- PharMerica Corp.
- QuadraMed Corp.
- Swisslog Healthcare AG
- Terumo Group
- Veradigm LLC
- Wolters Kluwer N.V.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global medication management system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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