Medication Management System Market Size Share Trends Forecast 2026

1. MEDICATION MANAGEMENT SYSTEM MARKET ANALYSIS INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2020–2027 © Coherent market Insights. All Rights Reserved © Coherent market Insights. All Rights Reserved

2. REPORT DESCRIPTION Medication Management System Market - Overview Medication Management System Market by Software (Inventory Management Solutions, Computerized Physician Order Entry, Clinical Decision Support System Solutions, and Electronic Medication Administration Record), by Mode of Delivery (Location Based Delivery, Web-based Delivery, and Cloud-based Delivery), by End User (Hospitals, Retail Pharmacies, and Home based care), and by Geography - Global Industry Insights, Trends, 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. Browse Research Reports: https://www.coherentmarketinsights.com/ongoing- insight/medication-management-system-market-1287 © Coherent market Insights. All Rights Reserved

3. REPORT DESCRIPTION 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. This would propel the growth for the global medication management system. According to WHO Factsheet, by 2020, about 73% of global deaths would be from chronic disease such as cancer, cardiovascular disease or diabetes, which requires long term medication with efficient medication dispensing and continuous patient monitoring, which can be done effectively through medication management system. According to the report published by International Pharmaceutical Federation in 2017, among 74 surveyed economies, 55.73% of prescription medicines are sold through hospital pharmacy. Increased use of IT technology for operational efficiency, lack of trained pharmacist and nurses is expected to boost growth of the medication management system market. Request a Sample copy of this reports : https://www.coherentmarketinsights.com/insight/request-sample/1287 © Coherent market Insights. All Rights Reserved

4. REPORT DESCRIPTION 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. Key Players are consolidating their market position through mergers and acquisition and new product launches In 2015, Becton, Dickinson and Company completed the acquisition of CareFusion Corporation at US$ 12.2 billion. CareFusion Corporation is specialized in reducing medication error. This acquisition would provide scale and depth to Becton and Dickinson and Company in medication management and patient safety solution. Buy-Now this research report: https://www.coherentmarketinsights.com/insight/buy- now/1287 © Coherent market Insights. All Rights Reserved

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6. ABOUT CMI SECTOR COVERAGE BIOTECHNOLOGY CLINICAL DIAGNOSTIC HEALTHCARE IT MEDICAL DEVICES MEDICAL IMAGING PHARMACEUTICAL OUR CLIENTS  Global Leading Equipment and System Manufacturers  Marketing Consultancies and the Advertising Industry  Component Providers and System Integrators  Private and Government organization  Distributors, Retailors and Value Added Resellers  Outsourcing Companies  Healthcare IT Solutions Developers  Universities and Business Schools. © Coherent market Insights. All Rights Reserved

7. KEY STATS RESEARCH SOLUTIONS 100+ GLOBAL REPORTS FEASIBILITY STUDIES Insights Published Per Year CUSTOMIZED SOLUTIONS 150+ COUNTRY ANALYSIS Consulting Projects Till Date CONSULT PROJECTS SURVEY RESEARCH 125+ EXCEL FORECAST DATABASE Clients Worldwide Per Year COMPETITIVE ASSESSMENT TECHNOLOGY SNIPPETS 110+ Analysts and Contract Consultants Coherent Market Insights excels at offering unmatched actionable market intelligence across various industry verticals, including chemicals, healthcare, and food & beverages, to name a few. We implement holistic market research methodology in order to result in the best possible market research reports across various industries worldwide. Based on our unmatched expertise across various industries—no matter how large or small, how complex or unique—we help our clients achieve better outcomes with uniquely designed and highly customized solutions. Our coverage includes insights that help our clients ensure sustained growth in developed markets and also key inputs to help them tap into emerging markets and exploit the plethora of opportunities posed therein. © Coherent market Insights. All Rights Reserved

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