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The global medication management system annual growth rate of 14.01%

The global medication management system was estimated USD 0.84 billion in 2014 and is expected to reach USD 2.73 billion in 2023, registering a compound annual growth rate of 14.01%.

January 2019 | Pharmaceutical and Healthcare


Medication Management SystemMarket :IndustryTrend Analysis:




The role of the medication management software package is to control Adverse Drug Events, maintain management and to furnish medicines. There has been scarceness of druggist|health care provider|caregiver} and professional healthcares in recent times. so to beat this condition there has been rise in demand of the medication management system. the variation of IT within the care sector for management services is one in every of the prime factors for the expansion of the market. moreover, increase in investments by the hospitals so as to upgrade or advance their management system and to scale back any errors associated with management can drive the market growth.





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Software Outlook and Trend Analysis:



On the idea of software package the worldwide medication management system is classified into processed medical practitioner Order Entry, Inventory Management, Administration software package, Assurance System software package and Clinical call network. Among them the inventory management phase has noninheritable the most important share of the market and is predicted to grow at a big compound annual rate of growth. The care facilities area unit improvising their management techniques so as to scale back their errors and so by providing higher management service that is one in every of the key factors for the expansion of this phase. On the opposite hand, the clinical call network phase can witness quickest growth over the forecast amount.



Mode of Delivery Outlook and Trend Analysis:



On the idea of mode of delivery the worldwide medication management system is divided into cloud based mostly, on-premises and by wed based mostly. The cloud based mostly phase has dominated the whole market and can still grow at a considerable compound annual rate of growth. varied care organizations area unit choosing cloud based mostly solutions so as to share informations with their shoppers and alternative holders. in addition security of the patients information and acquaintance of laws relating with can in all probability facilitate the expansion of the market. the net based mostly phase has noninheritable the second largest market.



End Users Outlook and Trend Analysis:



Based on the tip users the worldwide medication management system is sequestered into pharmacy, hospitals and alternative finish users. The hospitals phase has noninheritable the most important share from the general market and is predicted to grow at a high compound annual rate of growth. Hospitals have endowed Brobdingnagian capital for development and improvisation of their management systems that is one in every of the key factors for the expansion of this phase. Pharmacy sector can witness significant growth within the close to future.



Regional Outlook and Trend Analysis:



North America has noninheritable the most important share and dominated the whole medication management system market. U.S. beneath this region has the most important market. The key factors for the expansion of this region area unit adaptation of IT sector, improvisation of management services, and increase in variety of prescriptions and rise in chronic diseases. The market in Asia-Pacific and Europe region can grow at a better compound annual rate of growth. Advancements in care management technology and rise in patient pool is one in every of the prime factors for the expansion in these regions.



Competition Insights:



The leading competitors within the world medication management system area unit Emily Dickinson and Company CareFusion , QuadraMed Affinity Corporation, GE care, Allscripts, Cerner Corporation, Becton, Talyst, LLC., McKesson Corporation and Omnicell, Inc. because of mergers and launch of latest product the market size can expand within the close to future.



TheMedication ManagementSystem is segmented into:



Based on Software:



Computerized Physician Order Entry

Inventory Management

Administration Software

Assurance System Software

Clinical Decision Support System



Based on Mode of Delivery:



cloud based

on-premises

wed based



Based on End Users:



pharmacy

hospitals

other end users



 



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