How is Rising Usage of mHealth Driving Medication Adherence Market?

1. Demand for Medication Adherence Solutions Predicted to Surge in Asia- © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved Pacific in Future 1

2. Rising Incidence of Chronic Diseases Fueling Demand for Medication Adherence The rising incidence of chronic diseases is fueling the demand for medication adherence solutions across the globe. This is because the treatment of various chronic diseases usually involves therapeutic intervention and procedures such as the consumption of drugs and any interruptions in the intake of these medications can cause fatal consequences. As per the Centers for Disease Control and Prevention (CDC), in the U.S., as many as 160,201 persons lost their lives because of chronic lower respiratory diseases in 2017. Receive Sample Pages of this Report: https://www.psmarketresearch.com/market-analysis/medical- adherence/report-sample There are several causes of chronic diseases including various environmental factors, oxidative stress, and genetic factors. Chronic ailments require proper clinical intervention for their management and treatment. This is attained by adopting patient- centric medication adherence programs. The other major factor propelling the worldwide demand for medication adherence programs is the burgeoning requirement for advanced medication adherence devices around the world. The lack of proper coordination among patients and healthcare professionals severely affects the cost and quality of patient care. This is because improper coordination causes the fragmentation of medical information such as those pertaining to the medical history, diagnosis, administrative data, and patient demographics billing. Because of this reason, the requirement for advanced medication adherence and management platforms and programs is growing rapidly across the world. This is, in turn, fueling the expansion of the global medication adherence market. The value of the market is predicted to grow from $2,310.0 million in 2019 to $11,226.3 million by 2030. Furthermore, the medication adherence market is predicted to advance at a CAGR of 15.5% between 2020 and 2030. Depending on product, the market is divided into hardware-centric and software-centric products. Between these, the hardware-centric category is predicted to record faster growth in the market in the future years. This will be because the prominent players operating in the industry are focusing on launching various hardware-centric items such as the Smart Wireless Pill Bottles developed by AdhereTech Inc. The hardware-centric device category is further subdivided into smart pill bottles, automated dispensing systems, and electronic trays. Out of these, the automated dispensing systems division registered the highest growth in the medication adherence market during the last few years. Moreover, this category is predicted to register the fastest growth in the market in the forthcoming years. This will be because of the increasing demand for automated dispensing systems by consumers, on account of these devices’ inventory control, user-friendliness, and precision. Globally, the medication adherence market will demonstrate the fastest growth in Asia- Pacific (APAC) in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This is ascribed to the rising implementation of 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

3. favorable government initiatives regarding the adoption of medication adherence programs by healthcare centers in the region. For example, the National Heart Foundation in Australia has initiated the development of various comprehensive resources that provide exhaustive information regarding medication adherence management. Thus, it can be said with complete confidence that the demand for medication adherence programs will skyrocket all over the world in the coming years, mainly because of the increasing incidence of chronic diseases and the growing usage of advanced medication adherence systems in healthcare facilities around the world. The research offers market size of the global medication adherence market for the period 2014–2030. Market Segmentation by Product  Software Centric oMobile apps oOthers  Hardware Centric oDevices Automated dispensing systems Smart pill bottles Electronic trays Others     oPackaging Multi dose Unit dose Market Segmentation by Medication    Cardiovascular  Central Nervous System (CNS) Diabetes Oncology Respiratory Gastrointestinal Rheumatology Others Market Segmentation by Region        North America Medication Adherence Market 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

4. oBy product oBy medication oBy country – U.S. and Canada U.S. medication adherence market By product By medication Canada medication adherence market By product By medication Europe Medication Adherence Market        oBy product oBy medication oBy country – Germany, France, U.K., Italy, Spain, and Rest of Europe Germany medication adherence market By product By medication France medication adherence market By product By medication U.K. medication adherence market By product By medication Italy medication adherence market By product By medication Spain medication adherence market By product               By medication Asia-Pacific (APAC) Medication Adherence Market   oBy product oBy medication oBy country – Japan, China, India, South Korea, Australia, and Rest of APAC Japan medication adherence market By product By medication China medication adherence market     4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

5. By product By medication   India medication adherence market By product By medication Latin America (LATAM) Medication Adherence Market     oBy product oBy medication oBy country – Brazil, Mexico, and Rest of LATAM  Middle East and Africa (MEA) Medication Adherence Market oBy product oBy medication oBy country – Saudi Arabia, South Africa, and Rest of MEA 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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