Dublin, March 18, 2021 (GLOBE NEWSWIRE) -- The "Global Medication Management System Market By Software, By Mode of Delivery, By End-user, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Medication Management System Market size is expected to reach $5.7 billion by 2026, rising at a market growth of 20.1% CAGR during the forecast period. Medication management helps in enabling the process of administration, prescribing, and supply of medicines which can be monitored & authenticated electronically. Over the past few years, there is considerable growth in the global medication management market. This is attributed to the growing incidence of chronic diseases and swift growth in the elderly population The high demand for computerized physician order entry systems has increased over years owing to the increasing demand for remote patient monitoring services.
Factors like rising investment by hospitals in order to enhance workflow, technological advancement in medical field, and awareness about decreasing medication errors have contributed to market growth. Moreover, the market growth is expected to propel due to the high adoption of IT in the healthcare industry across the globe.
Aspects such as dispensing of medicines, inventory management, and controls Adverse Drug Events (ADE) can be enhanced using medication management storage. The shortage of healthcare professionals and pharmacists has considerably increased. Therefore, the adoption of medication management software has been witnessing a surge in order to ensure effective workflow.
Software Type Outlook
Based on Software, the market is segmented into Clinical Decision Support System Solutions, Computerized Physician Order Entry (CPOE), Inventory Management Solutions, Electronic Medication Administration Record, and Other Software. Among all these systems, the computerized physician order entry systems segment acquired the maximum growth in the market. This is attributed to the rising demand for remote patient monitoring services and advanced healthcare systems. Moreover, the clinical decision support system is anticipated to grow at the highest rate due to the increasing chronic diseases & rising geriatric population.
Mode of Delivery Outlook
Based on Mode of Delivery, the market is segmented into Cloud-based, Web-based and On-premise. In 2019, the cloud-based solution segment procured the maximum share of the medication management system market. A large number of players are focusing on developing cloud-based deployment solutions that can facilitate easy information that can be shared with clients and stakeholders. The prime factor that supports the growth of the global medication management system market is the easy access of information in remote locations using such solutions. The global market is expected to witness bright growth prospects due to the increasing focus on patient data protection & the advent of laws regarding it.
End-user Outlook
Based on End-user, the market is segmented into Hospitals, Pharmacies and Other end-users. In 2019, Hospitals segment obtained the maximum revenue share in the medication management system market & as it is one of the major end-users of IT solutions. In past years, hospitals have increased their funds in the purchase and upgrades of their IT systems.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America emerged as the leading region of the medication management system market. The major factors that propel the growth of the regional market are increasing rates of infectious & chronic diseases, rising adoption of IT in healthcare, technological development and a surge in the number of prescriptions. Moreover, the increasing awareness about new technologies and the existence of a large number of small & medium-scale players offering medication management solutions to several hospitals and pharmacies.
The major strategies followed by the market participants are Acquisitions and Partnerships. Based on the Analysis presented in the Cardinal matrix; UnitedHealth Group, Inc. and Siemens AG are the forerunners in the Medication Management System Market. Companies such as Omnicell, Inc., AllScripts Healthcare Solutions, Inc., McKesson Corporation, Becton, Dickinson and Company, Kuka AG, and General Electric (GE) Co. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AllScripts Healthcare Solutions, Inc. (A-S Medication Solutions), Siemens AG, Becton, Dickinson and Company, Cerner Corporation, General Electric (GE) Co. (GE Healthcare), McKesson Corporation, UnitedHealth Group, Inc. (Optum, Inc.), Omnicell, Inc., Kuka AG (Talyst, LLC), and ARxIUM, Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Medication Management System Market, by Software
1.4.2 Global Medication Management System Market, by Mode of Delivery
1.4.3 Global Medication Management System Market, by End User
1.4.4 Global Medication Management System Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, Nov - 2021, Jan) Leading Players
Chapter 4. Global Medication Management System Market by Software
4.1 Global Clinical Decision Support System Solutions Market by Region
4.2 Global Computerized Physician Order Entry (CPOE) Market by Region
4.3 Global Inventory Management Solutions Market by Region
4.4 Global Electronic Medication Administration Record Market by Region
4.5 Global Other Software Market by Region
Chapter 5. Global Medication Management System Market by Mode of Delivery
5.1 Global Cloud-based Market by Region
5.2 Global Web-based Market by Region
5.3 Global On-premise Market by Region
Chapter 6. Global Medication Management System Market End-user
6.1 Global Hospitals Market by Region
6.2 Global Pharmacies Market by Region
6.3 Global Other end-users Market by Region
Chapter 7. Global Medication Management System Market by Region
7.1 North America Medication Management System Market
7.2 Europe Medication Management System Market
7.3 Asia Pacific Medication Management System Market
7.4 LAMEA Medication Management System Market
Chapter 8. Company Profiles
8.1 AllScripts Healthcare Solutions, Inc. (A-S Medication Solutions)
8.1.1 Company Overview
8.1.1 Financial Analysis
8.1.2 Segmental and Regional Analysis
8.1.3 Research & Development Expense
8.1.4 Recent strategies and developments:
8.1.4.1 Partnerships, Collaborations, and Agreements:
8.1.4.2 Acquisition and Mergers:
8.1.4.3 Product Launches and Product Expansions:
8.2 Siemens AG
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Acquisition and Mergers:
8.3 Becton, Dickinson and Company
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Acquisition and Mergers:
8.3.5.2 Product Launches and Product Expansions:
8.4 Cerner Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.5 General Electric (GE) Co. (GE Healthcare)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.6 McKesson Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Acquisition and Mergers:
8.6.5.3 Product Launches and Product Expansions:
8.7 UnitedHealth Group, Inc. (Optum, Inc.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Partnerships, Collaborations, and Agreements:
8.7.4.2 Acquisition and Mergers:
8.8 Omnicell, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 Recent strategies and developments:
8.8.5.1 Partnerships, Collaborations, and Agreements:
8.8.5.2 Acquisition and Mergers:
8.9 Kuka AG (Talyst, LLC)
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Partnerships, Collaborations, and Agreements:
8.9.2.2 Acquisition and Mergers:
8.10. ARxIUM, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
8.10.2.2 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/mwt06k