DUBLIN--(BUSINESS WIRE)--The "Medication Management System Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Medication Management System Market is expected to register a CAGR of 9.1% during the forecast period.
The rising demand for IT solutions in the healthcare sector is increasing and ultimately the adoption of healthcare IT services is increasing which is fueling the medication management system market.
- A-S Medication Solutions (Allscripts Healthcare Solutions Inc)
- Becton, Dickinson and Company
- Cerner Corporation
- GE Healthcare (GE Company)
- McKesson Corporation
- Omnicell, Inc.
- Talyst, LLC (Psychiatric Solutions, Inc)
Key Market Trends
Clinical Decision Support System Solutions Segment is Expected to Hold a Major Market Share
Clinical Decision Support Systems (CDSS) refer to a healthcare IT system that is designed specifically to assist clinical decision support for healthcare professionals and physicians. CDS comprises of various tools, which helps to enhance decision-making in the clinical workflow. These tools include computerized alerts and reminders to care providers and patients, clinical guidelines, focused patient data reports and summaries, diagnostic support, and documentation templates, among other tools.
Furthermore, growing need for reducing human errors, rising demand to reduce healthcare expenditure, need for improvement in quality of care, rising chronic disease population, and more adoption rate in emerging economies are the major factors that are likely to boost the growth of the clinical decision support system solutions segment.
North America is Expected to Hold a Significant Share in the Market and is Expected to do Same During the Forecast Period
North America has dominated the medication management market owing to the robust adoption of IT in healthcare, technological advancement, an increase in the incidence of infectious and chronic diseases, and a rise in the number of prescriptions in the region that are the key factors responsible for the region's dominance.
This can be attributed to high awareness about new technologies, the presence of a large number of small- and medium-scale players who offer medication management solutions to various hospitals and pharmacies, and a shortage of primary care physicians. According to the Health Research Institute (HRI), estimated that annual percentage change in medical costs to treat patients was increased by 5.7% in 2019 which was 5.5% compared to 2017. However, it was estimated to increase by 6% by 2020. Thus, owing to above factors, North America is expected to show growth in the medication management systems market over the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Enormous Data Mounting from Healthcare Industry
4.2.2 Rising Number of Clinical Trials
4.2.3 Government Emphasis on Clinical Research
4.3 Market Restraints
4.3.1 Lack of Awareness and Infrastructure in Developing Countries
4.3.2 High Implementation Costs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Computerized Physician Order Entry
5.1.2 Clinical Decision Support System Solutions
5.1.3 Electronic Medication Administration Record
5.1.4 Inventory Management Solutions
5.1.5 Other Product Types
5.2 By Mode of Delivery
5.3 By End User
5.3.3 Other End Users
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/hqu48i