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Medication Management Market Report by Software, Services, Mode of Delivery, End User, and Region 2024-2032

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    Report

  • 145 Pages
  • March 2024
  • Region: Global
  • IMARC Group
  • ID: 5947291
Description Jump to:
The global medication management market size reached US$ 3.0 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.6% during 2023-2032.

Medical management includes monitoring, medication reconciliation, and ensuring that patients achieve their desired results by designing treatment plans and supervising their safety and effectiveness. As part of the process, patients and their caregivers are educated and engaged about safety and adherence concerns about medications as well as adverse drug events. A medication management system, which is included in healthcare reform, enhances inventory management, dispensing of medicines, and the control of adverse drug events (ADE). Additionally, it suggests reminder and organization tools that are most comfortable for patients, leading to a significant improvement in both patient outcomes and safety. Utilizing medication management services correctly reduces the prevalence of disease and mortality rates, thereby making healthcare safer and more reliable.

Medication Management Market Trends:

The market is majorly driven by a considerable rise in investments by healthcare facilities to improve workflow and operational efficiency. This can be attributed to the escalating need to minimize medication errors and healthcare expenditures. In addition to this, the increased workload on healthcare providers for efficient management and preservation of the records is providing an impetus to the market. Moreover, the growing trend of automating workflow management solutions through the use of new technologies in the healthcare sector is resulting in a higher uptake of medication management solutions. The market is further propelled by the increasing geriatric population that is susceptible to numerous health conditions. Apart from this, an enhanced focus on value-based medicine is creating lucrative market opportunities for the key players. Some of the other factors contributing to the market include the growing prevalence of numerous chronic illnesses, rapid advancements in medical technology, significant player mergers and acquisitions (M&As), rising healthcare expenditure and extensive research and development (R&D) activities.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global medication management market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on software, services, mode of delivery and end user.

Breakup by Software:

  • Computerized Physician Order Entry System
  • Clinical Decision Support System
  • Administration Software
  • Electronic Medication Administration Record (EMAR) Software
  • Barcode Medication Administration (BMA) Software
  • Inventory Management System
  • Automated Dispensing Systems
  • Centralized Automated Dispensing Systems
  • Robots/Robotic Automated Dispensing Systems
  • Carousels
  • Decentralized Automated Dispensing Systems (Ads)
  • Pharmacy-Based Decentralized Automated Dispensing Systems
  • Ward-Based Decentralized Automated Dispensing Systems
  • Automated Unit-Dose Decentralized Automated Dispensing Systems
  • Assurance System

Breakup by Services:

  • Medication Analytics Services
  • Point-Of-Care Verification Services
  • Adverse Drug Event (ADE) Surveillance Services

Breakup by Mode of Delivery:

  • Web-based
  • Cloud-based
  • On-premises

Breakup by End User:

  • Pharmacies
  • Hospitals
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare Solutions Inc., ARxIUM Inc., Becton Dickinson and Company, BIQ Health Solutions, Cardinal Health Inc., Mckesson Corporation, Omnicell Inc., Optum Inc. (UnitedHealth Group Incorporated), Oracle Corporation and Talyst LLC (Swisslog Healthcare). Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global medication management market in 2023?
2. What is the expected growth rate of the global medication management market during 2024-2032?
3. What are the key factors driving the global medication management market?
4. What has been the impact of COVID-19 on the global medication management market?
5. What is the breakup of the global medication management market based on the software?
6. What is the breakup of the global medication management market based on the services?
7. What is the breakup of the global medication management market based on the end user?
8. What are the key regions in the global medication management market?
9. Who are the key players/companies in the global medication management market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Medication Management Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Software
6.1 Computerized Physician Order Entry System
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Clinical Decision Support System
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Administration Software
6.3.1 Market Trends
6.3.2 key Segments
6.3.2.1 Electronic Medication Administration Record (EMAR) Software
6.3.2.2 Barcode Medication Administration (BMA) Software
6.3.3 Market Forecast
6.4 Inventory Management System
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Automated Dispensing Systems
6.5.1 Market Trends
6.5.2 key Segments
6.5.2.1 Centralized Automated Dispensing Systems
6.5.2.1.1 Robots/Robotic Automated Dispensing Systems
6.5.2.1.2 Carousels
6.5.2.2 Decentralized Automated Dispensing Systems (Ads)
6.5.2.2.1 Pharmacy-Based Decentralized Automated Dispensing Systems
6.5.2.2.2 Ward-Based Decentralized Automated Dispensing Systems
6.5.2.2.3 Automated Unit-Dose Decentralized Automated Dispensing Systems
6.5.3 Market Forecast
6.6 Assurance System
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Services
7.1 Medication Analytics Services
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Point-Of-Care Verification Services
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Adverse Drug Event (ADE) Surveillance Services
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Mode of Delivery
8.1 Web-based
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Cloud-based
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 On-premises
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by End User
9.1 Pharmacies
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Hospitals
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Allscripts Healthcare Solutions Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 ARxIUM Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Becton Dickinson and Company
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 BIQ Health Solutions
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Cardinal Health Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Mckesson Corporation
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Omnicell Inc.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Optum Inc. (UnitedHealth Group Incorporated)
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Oracle Corporation
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Talyst LLC (Swisslog Healthcare)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
Figure 1: Global: Medication Management Market: Major Drivers and Challenges
Figure 2: Global: Medication Management Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Medication Management Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Medication Management Market: Breakup by Software (in %), 2023
Figure 5: Global: Medication Management Market: Breakup by Services (in %), 2023
Figure 6: Global: Medication Management Market: Breakup by Mode of Delivery (in %), 2023
Figure 7: Global: Medication Management Market: Breakup by End User (in %), 2023
Figure 8: Global: Medication Management Market: Breakup by Region (in %), 2023
Figure 9: Global: Medication Management (Computerized Physician Order Entry System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Medication Management (Computerized Physician Order Entry System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Medication Management (Clinical Decision Support System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Medication Management (Clinical Decision Support System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Medication Management (Administration Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Medication Management (Administration Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Medication Management (Inventory Management System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Medication Management (Inventory Management System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Medication Management (Automated Dispensing Systems) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Medication Management (Automated Dispensing Systems) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Medication Management (Assurance System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Medication Management (Assurance System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Medication Management (Medication Analytics Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Medication Management (Medication Analytics Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Medication Management (Point-Of-Care Verification Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Medication Management (Point-Of-Care Verification Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Medication Management (Adverse Drug Event (ADE) Surveillance Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Medication Management (Adverse Drug Event (ADE) Surveillance Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Medication Management (Web-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Medication Management (Web-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Medication Management (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Medication Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Medication Management (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Medication Management (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Medication Management (Pharmacies) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Medication Management (Pharmacies) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Medication Management (Hospitals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Medication Management (Hospitals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Global: Medication Management (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Global: Medication Management (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: North America: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: North America: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: United States: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: United States: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Canada: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Canada: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Asia-Pacific: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Asia-Pacific: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: China: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: China: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: Japan: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: Japan: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: India: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: India: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: South Korea: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: South Korea: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Australia: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Australia: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Indonesia: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Indonesia: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Others: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Others: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Europe: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Europe: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Germany: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Germany: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: France: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: France: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: United Kingdom: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: United Kingdom: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: Italy: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: Italy: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Spain: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Spain: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Russia: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Russia: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Others: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Others: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Latin America: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Latin America: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Brazil: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Brazil: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Mexico: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Mexico: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Others: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 84: Others: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Middle East and Africa: Medication Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 86: Middle East and Africa: Medication Management Market: Breakup by Country (in %), 2023
Figure 87: Middle East and Africa: Medication Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 88: Global: Medication Management Industry: SWOT Analysis
Figure 89: Global: Medication Management Industry: Value Chain Analysis
Figure 90: Global: Medication Management Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Medication Management Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Medication Management Market Forecast: Breakup by Software (in Million US$), 2024-2032
Table 3: Global: Medication Management Market Forecast: Breakup by Services (in Million US$), 2024-2032
Table 4: Global: Medication Management Market Forecast: Breakup by Mode of Delivery (in Million US$), 2024-2032
Table 5: Global: Medication Management Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 6: Global: Medication Management Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Medication Management Market: Competitive Structure
Table 8: Global: Medication Management Market: Key Players

Companies Mentioned

  • Allscripts Healthcare Solutions Inc.
  • ARxIUM Inc.
  • Becton Dickinson and Company
  • BIQ Health Solutions
  • Cardinal Health Inc.
  • Mckesson Corporation
  • Omnicell Inc.
  • Optum Inc. (UnitedHealth Group Incorporated)
  • Oracle Corporation and Talyst LLC (Swisslog Healthcare).

Methodology

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Table Information

Report AttributeDetails
No. of Pages145
PublishedMarch 2024
Forecast Period2023 - 2032
Estimated Market Value ( US$ ) in 2023 US$  3 Billion
Forecasted Market Value ( US$ ) by 2032 US$  5.8 Billion
Compound Annual Growth Rate7.6%
Regions CoveredGlobal
No. of Companies Mentioned9

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