Medication Compliance Management Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Medication Compliance Management market size is estimated at USD 2,400.7 million in 2020, expanding at a CAGR 5.1% from 2021-2027 to reach 3,000.8 million USD in 2027.
Market Dynamics
Medication adherence is a catch-all word for methods meant to improve adaption to approved medications. It includes various hardware and scripting language systems. Mechanization pill wholesalers, astute medicinal timepieces, astute medicinal warnings, digital plates, and monitoring devices are among the equipment-based approaches.
There is a growing demand for package styles that allow individuals to keep track of their prescribed drug, which is fueling the growth of the Medication Compliance Monitoring Industry. The financial implications of the medicine compliance package, as compared to conventional packing forms, constitute a limiting factor, since not only patients but also manufacturers are resistant to switching to medicine adherence wrapping.
Medication Compliant Administration is expanding due to the need for improved pharmaceutical adherence solutions. The medical environment is fractured throughout the world, with huge multiple decisions available for the diagnosis and care of a patient experiencing a disease. The poor cooperation between medical providers as well as customers has had a severe influence on both the efficiency and price of a treatment since it has resulted in the separation of medical knowledge. As a result, improved drug monitoring and adherence solutions are required.
Increases in client cost participation over a certain level will have a detrimental influence on drug compliance. Patients' capacity to obtain prescriptions at lower and more inexpensive rates is hampered by a shortage of pharmaceutical healthcare insurance, expensive medicines, and formula levels. For example, nearly 25% of Americans struggle to purchase pharmaceutical medicines owing to excessive out-of-pocket prices. Uninsured people are more inclined than covered ones to pursue cost-cutting measures. Throughout the projected timeframe, these factors will restrict the development of the medicine adherence industry.
Regional Insights
During the projection timeframe, North America is predicted to have the biggest industry position. The presence of major firms including Google and Microsoft will support overall growth by integrating technical improvements into the offering line. Increased company R&D expenditures would boost industry expansion throughout the area. As per the Centers for Disease Control & Prevention, infectious illnesses accounted for seven of the ten leading causes of mortality in the United States in 2019. Cardiovascular disease as well as cancer, coupled with other chronic illnesses, contributed to roughly 46 percent of all fatalities in the United States in 2019.
Because of the rising discretionary wealth of the people, APAC offers attractive potential for drug compliance industry participants, allowing people to access effective treatment alternatives despite being at a heavy price. Cooperation among companies targeted at establishing different efforts to encourage development in medication compliance hardware and technologies are projected to boost the industry in the Asian market over the projected timeframe.
Segment Insights
The Medication Compliance Monitoring industry is segmented into two sections: Types and Applications. Depending on the application The electronic medical data obtained via treatment systems aid in the development of tailored representations of the patient's health status, therefore communicating treatment plans explicitly to the individual. Depending on the product, software-centric goods dominated the global industry. Software-centric treatment solutions are a collection of programs or apps that monitor, document, and notify the client or his or her caretaker about treatment compliance. These items are more popular since they are less expensive and easier to obtain than equipment-centric goods.
Competitive Insights
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Medication Compliance Management by, Type, Application, and region. In addition, this report introduces the market competition situation among the vendors, and company profile, besides, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- Adherium
- Aardex Group Propeller Health
- Allscripts Healthcare Solutions, Inc
- Cardinal Health
- Echo
- eLucid mHealth
- Health Beacon
- HealthEra
- InHandPlus Inc.
- Koninklijke Phillips N.V
- McKesson Corporation
- Omnicell Inc
- Popit
- Tinylogics
- Umotif
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Hardware Centric
- Software Centric
- Packaging
Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Cardiovascular
- Diabetes
- Central Nervous System (CNS)
- Oncology
- Gastrointestinal
- Respiratory
- Rheumatology
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
1. Medication Compliance Management Market Overview
1.1. Product Overview and Scope of Medication Compliance Management
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Medication Compliance Management Market Size Growth Rate Analysis by Type 2020 VS 2027
1.3.1. Hardware Centric
1.3.2. Software Centric
1.3.3. Packaging
1.4. Global Medication Compliance Management Consumption Comparison by Application: 2020 VS 2027
1.4.1. Cardiovascular
1.4.2. Diabetes
1.4.3. Central Nervous System (CNS)
1.4.4. Oncology
1.4.5. Gastrointestinal
1.4.6. Respiratory
1.4.7. Rheumatology
1.5. Global Medication Compliance Management Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Medication Compliance Management Estimates
1.5.2. Europe Medication Compliance Management Estimates
1.5.3. China Medication Compliance Management Estimates
1.5.4. Japan Medication Compliance Management Estimates
2. Market Competition by Manufacturers
2.1. Global Medication Compliance Management Revenue Market Share by Manufacturers (2020)
2.2. Medication Compliance Management Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Medication Compliance Management Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Medication Compliance Management Production Sites, Area Served, Product Types
2.5. Medication Compliance Management Market Competitive Situation and Trends
2.5.1. Medication Compliance Management Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Medication Compliance Management Consumption by Region (2016-2021)
3.1. Global Medication Compliance Management Consumption by Region
3.2. Global Medication Compliance Management Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Medication Compliance Management Consumption Growth Rate (2016-2021)
3.2.3. North America Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Medication Compliance Management Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Medication Compliance Management Consumption Growth Rate (2016-2021)
3.2.7. Europe Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Medication Compliance Management Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Medication Compliance Management Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Medication Compliance Management Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Medication Compliance Management Consumption Growth Rate (2016-2021)
3.2.15. South America Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Medication Compliance Management Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Medication Compliance Management Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Medication Compliance Management Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Medication Compliance Management Consumption by Type (2016-2021)
4.1. Global Medication Compliance Management Price by Type (2016-2021)
4.2. Global Medication Compliance Management Revenue Market Share by Type (2016-2021)
4.2.1. Hardware Centric
4.2.2. Software Centric
4.2.3. Packaging
5. Global Medication Compliance Management Consumption by Application (2016-2021)
5.1. Global Medication Compliance Management Price by Application (2016-2021)
5.2. Global Medication Compliance Management Revenue Market Share by Application (2016-2021)
5.2.1. Cardiovascular
5.2.2. Diabetes
5.2.3. Central Nervous System (CNS)
5.2.4. Oncology
5.2.5. Gastrointestinal
5.2.6. Respiratory
5.2.7. Rheumatology
6. Key Companies Profiled
6.1. Adherium
6.1.1. Adherium Medication Compliance Management Corporation Information
6.1.2. Adherium Medication Compliance Management Product Portfolio
6.1.3. Adherium Medication Compliance Management Consumption, Price and Gross Margin (2016-2021)
6.1.4. Adherium Main Business and Markets Served
6.1.5. Adherium Recent Developments/Updates
6.2. Aardex Group Propeller Health
6.3. Allscripts Healthcare Solutions, Inc
6.4. Cardinal Health
6.5. Echo
6.6. eLucid mHealth
6.7. Health Beacon
6.8. HealthEra
6.9. InHandPlus Inc.
6.10. Koninklijke Phillips N.V
6.11. McKesson Corporation
6.12. Omnicell Inc
6.13. Popit
6.14. Tinylogics
6.15. Umotif
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Medication Compliance Management Distributors List
7.3. Medication Compliance Management Customers
8. Market Dynamics
8.1. Medication Compliance Management Industry Trends
8.2. Medication Compliance Management Growth Drivers
8.3. Medication Compliance Management Market Challenges
8.4. Medication Compliance Management Market Restraints
9. Global Medication Compliance Management Consumption and Demand Forecast, by Region (2022-2027)
9.1. Global Forecasted Demand Analysis of Medication Compliance Management, by Regions and Country
9.1.1. North America Forecasted Consumption of Medication Compliance Management by Country
9.1.2. Europe Market Forecasted Consumption of Medication Compliance Management by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Medication Compliance Management by Region
9.1.4. Latin America Forecasted Consumption of Medication Compliance Management by Country
9.1.5. Middle East and Africa Forecasted Consumption of Medication Compliance Management by Country
10. Research Finding and Conclusion
11. Methodology and Data Source
11.1. Methodology/Research Approach
11.1.1. Research Programs/Type
11.1.2. Market Size Estimation
11.1.3. Market Breakdown and Data Triangulation
11.2. Data Source
11.2.1. Secondary Sources
11.2.2. Primary Sources
11.3. Author List
11.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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