Medication Management Market By Software (Computerized Physician Order, Clinical Decision Support System Solutions, Inventory Management Software, Administration Software, Automated Dispensing Systems, Assurance System Software, Other Software) , By Service (Medication Analytics, Point-of-Care Verification, ADE Surveillance) By Mode of Delivery (On-premises, Web-based, Cloud-based) By End User (Hospitals, Pharmacy, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Medication Management Market Expected to Garner $8.2 Billion by 2033, Growing at a CAGR of 10.6%
The global medication management market is expected to grow primarily due to the growing demand for personalized medicine & pharmacogenomics and technological advancements. The North America region is predicted to witness profitable growth by 2033.
As per the report published by Research Dive, the global medication management market was valued at $3.0 billion in 2023 and is expected to register a revenue of $8.2 billion by 2033 at a CAGR of 10.6% during the forecast period 2024-2033.
Dynamics of the MarketThe rising demand for personalized medicine & pharmacogenomics, growing awareness of the importance of reducing side effects & preventing adverse drug interactions, and the improved medication adherence are expected to make the medication management market a highly profitable one in the forecast period. Besides, the increasing need for centralizing medication-related information and automating administrative tasks to enhance operational efficiency is predicted to further boost the market growth.
However, according to market analysts, shortage of skilled professionals and inaccurate diagnosis leading to improper prescriptions might restrain the growth of the market.
Advancements in technology, such as electronic health records, medication management systems, and mobile health applications, present significant opportunities for medication management market growth. Moreover, strategic alliances between dental practices and labs foster mutual growth and innovation, enhancing offerings and improving patient outcomes.
Key Players of the MarketThe major players of the medication management market include Allscripts, Becton, QuadraMed Affinity Corporation, Cerner Corporation, McKesson Corporation, CareFusion, GE Healthcare, Talyst, LLC, and Omnicell, Inc.
What the Report CoversIn addition to the details highlighted in this description, the comprehensive final report delves into essential market aspects. These encompass a market overview, SWOT analysis, market dynamics, Porter’s five forces analysis, segmentation (key trends, regional analysis, and forecast analysis), and company profiles (including company overview, product portfolio, operating segments, strategic initiatives, and financial performance).
Key Market SegmentsBy SoftwareComputerized Physician Order
Clinical Decision Support System Solutions
Inventory Management Software
Administration Software
Automated Dispensing Systems
Assurance System Software
Other Software
By ServiceMedication Analytics
Point-of-Care Verification
ADE Surveillance
By Mode Of DeliveryOn-premises
Web-based
Cloud-based
By End UserHospitals
Pharmacy
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
Italy
Spain
UK
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA
Key Market PlayersAllscripts
QuadraMed Corporation
Affinity Corporation
Becton
Cerner Corporation
Carefusion
McKesson Corporation
GE Healthcare
Omnicell, Inc.
TALYST, LLC.