Medication Management Market worth $1,624.9 Million by 2019

1. MarketsandMarkets Presents Medication Management Market - Global Forecasts to 2019 https://www.marketsandmarkets.com/Market-Reports/medication-management-market-107137346.html

2. • Medication management systems ensure tracking and validation of the medication administered to patients at all points of care. These systems help healthcare organizations to minimize medical errors occurring in the healthcare environment. Owing to these benefits, the global medication management market has received a major boost over the past few years. With a significant increase in the elderly population and growth in treatment of long-term care diseases, an increasing number of patients across the world are using daily medication prescriptions. This has increased the risks of medication errors in the healthcare environment. Medication errors are responsible for a large number of hospital readmissions which adds to overall cost of healthcare services, which increases the burden on healthcare systems. Currently, an increasing number of healthcare organizations and governments across the globe are considering medication management solutions as tools for minimizing their overall healthcare costs. This can be achieved by minimizing the hospital stay for patients, while delivering better quality of care at the same time. • https://www.marketsandmarkets.com/Market-Reports/medication-management-market-107137346.html

3. https://www.marketsandmarkets.com/Market-Reports/medication- management-market-107137346.html The global medication management market is estimated to grow at a CAGR of 14% from an estimated $845.1 million in 2014 during the forecast period of 2014–2019. Major factors, such as the growth in the ageing population, need for reducing healthcare costs, and better healthcare management are expected to drive market growth. Several government initiatives, such as allocation of healthcare Information Technology (IT) funds for one, have raised the adoption rate of medication management systems globally. However, high software implementation and service maintenance costs hinder the growth of this market to a certain extent. https://www.marketsandmarkets.com/Market-Reports/medication-management-market-107137346.html

4. • Medication management technology helps in optimizing individual drug therapy with the intent of improving therapeutic outcomes for patients. This technology can reduce both the occurrence of medication errors and the overall healthcare cost, and is expected to have major implications for both healthcare providers and patients. Increasing government funds and increasing ageing population will help the growth of this market globally. • The North American market is estimated to contribute the largest share 63.4% to the global medication management systems market in 2014. This would be followed by Europe, Asia-Pacific, and the Rest of the World, in that order. The U.S. dominated the North American market in 2014, propelling the growth of this region. In Europe, the medication management market was majorly dominated by Germany and the U.K. in 2014. An increase in government funding and budget allocations to the healthcare sector, and the rising adoption of healthcare IT are anticipated to help the growth of medication management technologies, with Germany being the front runner in Europe. The Asia- Pacific (APAC) and Middle Eastern regions, on the other hand, are estimated to show the maximum growth in the next five years. Increasing government funding towards modernization of healthcare infrastructure along with the growth in aging population and the increasing need of proper medication administration are expected to drive the growth of this market in the APAC region. https://www.marketsandmarkets.com/Market-Reports/medication-management-market-107137346.html

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