The global medication management market is estimated to grow at a CAGR of 14% from an estimated $845.1 million in 2014 during the forecast period of 2014�2019. Major factors, such as the growth in the ageing population, need for reducing healthcare costs, and better healthcare management are expected to drive market growth. Several government initiatives, such as allocation of healthcare Information Technology (IT) funds for one, have raised the adoption rate of medication management systems globally. However, high software implementation and service maintenance costs hinder the growth of this market to a certain extent.

The North American market is estimated to contribute the largest share 63.4% to the global medication management systems market in 2014. This would be followed by Europe, Asia-Pacific, and the Rest of the World, in that order. The U.S. dominated the North American market in 2014, propelling the growth of this region. In Europe, the medication management market was majorly dominated by Germany and the U.K. in 2014. An increase in government funding and budget allocations to the healthcare sector, and the rising adoption of healthcare IT are anticipated to help the growth of medication management technologies, with Germany being the front runner in Europe. The Asia-Pacific (APAC) and Middle Eastern regions, on the other hand, are estimated to show the maximum growth in the next five years. Increasing government funding towards modernization of healthcare infrastructure along with the growth in aging population and the increasing need of proper medication administration are expected to drive the growth of this market in the APAC region.

Some of the leading players in medication management market include CareFusion Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), and Siemens Healthcare (Germany). Together, these players accounted for more than 60% of the market share in 2013. However, the overall market is fragmented in nature, where smaller regional players account for nearly 30% of the global market share.

Scope of the Report

Medication management technology helps in optimizing individual drug therapy with the intent of improving therapeutic outcomes for patients. This technology can reduce both the occurrence of medication errors and the overall healthcare cost, and is expected to have major implications for both healthcare providers and patients. Increasing government funds and increasing ageing population will help the growth of this market globally.

This research report categorizes the global medication management market into the following segments:

Medication Management Market By Software:

Computerized Physician Order Entry

Clinical Decision Support System

Administration Software Electronic Medication Administration Record (EMAR) Barcode Medication Administration (BMA)

Inventory Management

Automated Dispensing Systems (ADS) Centralized Robots Carousels Decentralized Automated Dispensing Systems Pharmacy-based ADS Ward-based ADS Automated Unit-Dose Dispensing

Assurance System Software

Medication Management Market By Services:

Medication Analytics

Point-of-Care Verification

ADE Surveillance

Medication Management Market By End-users:

Hospitals

Pharmacy

Others

Medication Management Market By Mode of Delivery:

On-premises

Web-based

Cloud-based

Medication Management Market By Geography:

North America U.S. Canada

Europe Germany France U.K. Italy Spain Rest of Europe

Asia-Pacific (APAC) Japan India China Rest of Asia-Pacific (RoAPAC)

Rest of the World (RoW) Latin America Middle East and Africa



The global medication management market is valued at an estimated $845.1 million in 2014 and is expected to grow at a CAGR of 14% from 2014 to 2019, to reach $1,624.9 million by 2019. The adoption of medication management solutions by healthcare providers is increasing, owing to the rising concerns for minimizing adverse drug events and related medication errors. This is one of the key factors driving the growth of this market in the forecast period. Government initiatives to improve quality of care for patients and reduce healthcare expenditure are also expected to support the growth of the market in the coming years.

The global market is broadly segmented by systems, services, mode of delivery, and end-users. The software market is divided into computerized physician order entry, clinical decision support systems, administration software, inventory management software, automated dispensing systems, and assurance systems software. The market, by services, is divided into medication analytics, point-of-care verification, and ADE (adverse drug events) surveillance. The end-users market is segmented into hospitals, pharmacies, and others. The market, by mode of delivery, is divided into on-premises, web-based, and cloud-based models. This report also covers four major geographies, namely, North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW).

In 2013, the North American market dominated the global medication management market with a share of 63.7%, followed by Europe, APAC, and RoW. The APAC region shows the maximum growth potential in the coming few years. The urgent need for modernization of healthcare infrastructure, owing to the growth in aging population and increasing incidences of chronic diseases will help drive this market. Countries such as South Korea, China, and Singapore are expected to steer the growth of the medical treatment management market in the APAC region.

CareFusion Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), and Siemens Healthcare (Germany) are some of the top players in the global medication management market.