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Medication Management System Market Size, Share & Trends Analysis Report By Software, By Mode Of Delivery (On-premise, Web-based, Cloud-based), By End-use, By Region, And Segment Forecasts, 2022 - 2030

June 2022 | 104 pages | ID: M2A1A4D4B6FEN
Grand View Research, Inc.

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Medication Management System Market Growth & Trends

The global medication management system market size is expected to reach USD 6.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.2% from 2022 t0 2030. Rise in the number of prescriptions globally, increase in investments by hospitals for workflow management, advanced technologies, and rise in government reforms and policies boosting the integration of IT in healthcare are estimated to drive market growth.

Rise in challenges faced by healthcare professionals for efficient management of clinical operations, streamlined workflow, and reduced healthcare costs drive the demand for automated solutions in healthcare facilities. Rapid growth in prescriptions has increased the burden on care providers to efficiently manage prescriptions of patients and minimize medication errors. Thus, increase in the number of prescriptions is one crucial factor driving the market growth. In addition, a shortage of pharmacists and healthcare professionals will further boost the adoption of IT solutions in healthcare facilities.

The market had a positive impact during the pandemic. COVID-19 sickness began to spread over the world in early 2020, infecting millions of people globally, and major countries around the world-imposed foot restrictions and work stoppage orders. To assist control the spread of the infection, social distance and lockdowns were employed. Patients with chronic diseases unable to access healthcare facilities for routine treatment and medication administration suffered. Except for the medical supply and life support goods businesses, most industries have been severely hit, and have also been severely impacted.

There is a rise in investments by hospitals to streamline clinical processes and they have been purchasing new software to manage workflow, which is expected to boost the market growth. For instance, in March 2017, Saudi German Hospital-Dubai automated its medication management workflow by integrating Omnicell’s solutions. According to WHO, chronic diseases including cancer, diabetes, and cardiovascular disease accounted for approximately 73% of global death in 2020, this will generate a necessity for long-term medication with efficient dispensing and continuous patient monitoring, which can be accomplished effectively through medication management systems.

Also, according to a 2017 report by WHO, medication errors cost USD 42 billion per year globally. According to these numbers, there is a raising need for medication management systems as an essential component of comprehensive healthcare infrastructure. The population is at risk of adverse drug events due to the possibility of human error in delivering medication, which can be reduced by employing a medication management system. This would boost the worldwide medication management system market growth.

Reforms, policies, and initiatives are being taken by governments to increase the adoption of healthcare IT across the globe, which is expected to drive market growth. For instance, the German National Medication Plan is an initiative directed toward enhancing medication management software in hospitals and pharmacies in Germany.

To extend the geographic reach and client bases, key market players are using competitive strategies such as technology advancement, acquisitions and mergers, agreements, collaboration, and partnerships. For instance, in March 2022, Constellation Software, through N. Harris Computer (subsidiary), concluded its agreement for the acquisition of a net asset of Allscripts Healthcare Solutions’ hospitals and large physician practices business for a payment of USD 700 million in cash.

Medication Management System Market Report Highlights
  • The inventory management solutions segment held a majority of revenue share in the market in 2021 due to the rising need to reduce issues such as stockout and overstock
  • The hospitals segment held the largest revenue share in 2021 owing to the rise in investments by hospitals to upgrade their IT infrastructure
  • The cloud-based solutions segment dominated the market owing to greater data security
  • North America dominated the market owing to high adoption of healthcare IT and technological advancements
CHAPTER 1. RESEARCH METHODOLOGY

1.1 Information Procurement
1.2 Data Analysis

CHAPTER 2. EXECUTIVE SUMMARY

2.1 Market Snapshot

CHAPTER 3. MEDICATION MANAGEMENT MARKET VARIABLES, TRENDS & SCOPE

3.1 Market Segmentation & Scope
3.2 Market Driver Analysis
  3.2.1 Agreements and acquisitions among players offering medication management solutions
  3.2.2 Investments by hospitals to improve their workflow
  3.2.3 Initiatives, reforms, and policies to increase the adoption of Healthcare IT across the globe
3.3 Market Restraint Analysis
  3.3.1 High costs of installation and maintenance
  3.3.2 Patient privacy issues
3.4 Penetration & Growth Prospect Mapping
3.5 Medication Management Market - SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
3.6 Industry Analysis - Porter’s

CHAPTER 4. MEDICATION MANAGEMENT MARKET: SOFTWARE ESTIMATES & TREND ANALYSIS

4.1 Medication Management Market: Software Movement Analysis
4.2 Computerized Physician Order Entry (CPOE) Market
  4.2.1 Computerized physician order entry (CPOE) market estimates and forecasts, 2017 - 2030 (USD Million)
4.3 Clinical Decision Support System (CDSS)
  4.3.1 Clinical decision support system market estimates and forecasts, 2017 - 2030 (USD Million)
4.4 Electronic Medication Administration Records
  4.4.1 Electronic medication administration records market estimates and forecasts, 2017 - 2030 (USD Million)
4.5 Inventory Management Software
  4.5.1 Inventory management software market estimates and forecasts, 2017 - 2030 (USD Million)
4.6 Other Software
  4.6.1 Other software market estimates and forecasts, 2017 - 2030 (USD Million)

CHAPTER 5. MEDICATION MANAGEMENT MARKET: MODE OF DELIVERY ESTIMATES & TREND ANALYSIS

5.1 Medication Management Market: Mode of Delivery Movement Analysis
5.2 On-premise Solutions
  5.2.1 On-premise solutions market estimates and forecasts, 2017 - 2030 (USD Million)
5.3 Web-based Solutions
  5.3.1 Web-based solutions market estimates and forecasts, 2017 - 2030 (USD Million)
5.4 Cloud-based Solutions
  5.4.1 Cloud-based solutions market estimates and forecasts, 2017 - 2030 (USD Million)

CHAPTER 6. MEDICATION MANAGEMENT MARKET: END-USE ESTIMATES & TREND ANALYSIS

6.1 Medication Management Market: End-Use Movement Analysis
6.2 Hospitals
  6.2.1 Hospitals market estimates and forecasts, 2017 - 2030 (USD Million)
6.3 Pharmacies
  6.3.1 Pharmacies market estimates and forecasts, 2017 - 2030 (USD Million)
6.4 Other Healthcare Institutions
  6.4.1 Other healthcare institutions market estimates and forecasts, 2017 - 2030 (USD Million)

CHAPTER 7. MEDICATION MANAGEMENT: REGIONAL ESTIMATES & TREND ANALYSIS, BY SOFTWARE, MODE OF DELIVERY, AND END-USE

7.1 Medication Management Market: Regional Movement Analysis
7.2 North America
  7.2.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
  7.2.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
  7.2.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.2.4 U.S.
    7.2.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.2.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.2.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.2.5 Canada
    7.2.5.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.2.5.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.2.5.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
7.3 Europe
  7.3.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
  7.3.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
  7.3.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.3.4 U.K.
    7.3.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.3.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.3.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.3.5 Germany
    7.3.5.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.3.5.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.3.5.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
7.4 Asia Pacific
  7.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
  7.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
  7.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.4.4 Japan
    7.4.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.4.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.4.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.4.5 China
    7.4.5.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.4.5.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.4.5.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
7.5 Latin America
  7.5.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
  7.5.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
  7.5.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.5.4 Brazil
    7.5.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.5.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.5.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.5.5 Mexico
    7.5.5.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.5.5.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.5.5.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
7.6 Middle East and Africa (MEA)
  7.6.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
  7.6.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
  7.6.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
  7.6.4 South Africa
    7.6.4.1 Market estimates & forecasts, by software, 2017 - 2030 (USD Million)
    7.6.4.2 Market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
    7.6.4.3 Market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)

CHAPTER 8. COMPETITIVE LANDSCAPE

8.1 List of Market Players
8.2 Company Profiles
  8.2.1 Allscripts
    8.2.1.1 Company overview
    8.2.1.2 Financial performance
    8.2.1.3 Product benchmarking
    8.2.1.4 Strategic initiatives
  8.2.2 Becton, Dickinson and Company (CareFusion)
    8.2.2.1 Company overview
    8.2.2.2 Financial performance
    8.2.2.3 Product benchmarking
    8.2.2.4 Strategic initiatives
  8.2.3 GE Healthcare
    8.2.3.1 Company overview
    8.2.3.2 Financial performance
    8.2.3.3 Product benchmarking
  8.2.4 Talyst, LLC.
    8.2.4.1 Company overview
    8.2.4.2 Financial performance
    8.2.4.3 Product benchmarking
    8.2.4.4 Strategic initiatives
  8.2.5 McKesson Corporation
    8.2.5.1 Company overview
    8.2.5.2 Financial performance
    8.2.5.3 Product benchmarking
    8.2.5.4 Strategic initiatives
  8.2.6 Cerner Corporation
    8.2.6.1 Company overview
    8.2.6.2 Financial performance
    8.2.6.3 Product benchmarking
    8.2.6.4 Strategic initiatives
  8.2.7 ARxIUM
    8.2.7.1 Company overview
    8.2.7.2 Financial performance
    8.2.7.3 Product benchmarking
  8.2.8 QuadraMed Affinity Corporation
    8.2.8.1 Company overview
    8.2.8.2 Financial performance
    8.2.8.3 Product benchmarking
    8.2.8.4 Strategic initiatives
  8.2.9 Omnicell, Inc.
    8.2.9.1 Company overview
    8.2.9.2 Financial performance
    8.2.9.3 Product benchmarking
    8.2.9.4 Strategic initiatives

LIST OF TABLES

Table 1 Density as pharmacists per 10,000 populations
Table 2 North America medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 3 North America medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 4 North America medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 5 U.S. medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 6 U.S. medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 7 U.S. medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 8 Canada medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 9 Canada medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 10 Canada medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 11 Europe medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 12 Europe medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 13 Europe medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 14 U.K. medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 15 U.K. medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 16 U.K. medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 17 Germany medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 18 Germany medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 19 Germany medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 20 Asia Pacific medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 21 Asia Pacific medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 22 Asia Pacific medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 23 Japan medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 24 Japan medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 25 Japan medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 26 China medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 27 China medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 28 China medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 29 Latin America medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 30 Latin America medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 31 Latin America medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 32 Brazil medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 33 Brazil medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 34 Brazil medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 35 Mexico medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 36 Mexico medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 37 Mexico medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 38 MEA medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 39 MEA medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 40 MEA medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)
Table 41 South Africa medication management market estimates & forecasts, by software, 2017 - 2030 (USD Million)
Table 42 South Africa medication management market estimates & forecasts, by mode of delivery, 2017 - 2030 (USD Million)
Table 43 South Africa medication management market estimates & forecasts, by end-use, 2017 - 2030 (USD Million)

LIST OF FIGURES

Fig. 1 Market snapshot (USD Million)
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value Chain based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market trends & outlook
Fig. 9 Market segmentation & scope
Fig. 10 Market driver relevance analysis (Current & future impact)
Fig. 11 Market restraint relevance analysis (Current & future impact)
Fig. 12 Penetration & growth prospect mapping
Fig. 13 SWOT analysis, by factor (political & legal, economic and technological)
Fig. 14 Porter’s Five Forces Analysis
Fig. 15 Medication Management Market: Software outlook and key takeaways (USD Million)
Fig. 16 Medication Management Market: Software movement analysis (USD Million)
Fig. 17 Computerized physician order entry (CPOE) market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 18 Clinical decision support systems market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 19 Electronic medication administration records market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 20 Inventory management software market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 21 Other software market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 22 Medication Management Market: Mode of Delivery outlook and key takeaways (USD Million)
Fig. 23 Medication Management Market: Mode of Delivery movement analysis (USD Million)
Fig. 24 On-premise solutions market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 25 Web-based solutions market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 26 Cloud-based solutions market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 27 Medication Management Market: End-use outlook and key takeaways (USD Million)
Fig. 28 Medication Management Market: End-use movement analysis (USD Million)
Fig. 29 Hospitals market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 30 Pharmacies market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 31 Other healthcare institutions market estimates and forecasts, 2017 - 2030 (USD Million)
Fig. 32 Regional market place: Key takeaways (USD Million)
Fig. 33 Medication management market: Regional movement analysis (USD Million)
Fig. 34 North America medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 35 U.S. medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 36 Canada medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 37 Europe medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 38 U.K. medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 39 Germany medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 40 Asia Pacific medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 41 Japan medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 42 China medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 43 Latin America medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 44 Brazil medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 45 Mexico medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 46 MEA medication management market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 47 South Africa medication management market estimates & forecasts, 2017 - 2030 (USD Million)


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