Medication Management Market by Systems (CPOE, CDSS, Automated Dispensing, Assurance Systems), Services (Medication Analytics, POC Verification, ADE Surveillance), Mode of Delivery (On-Premises, Web-Based, Cloud-Based) - Global Forecast to 2019
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.
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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
- Centralized
- 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.
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Table Of Contents
1 Introduction
1.1 Objectives Of The Study
1.2 Report Description
1.3 Markets Covered
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Market Size Estimation
1.5.2 Market Crackdown And Data Triangulation
1.5.3 Market Share Estimation
1.5.4 Key Points From Secondary Sources
1.5.5 Key Data Points From Primary Sources
1.5.6 Assumptions
2 Executive Summary
3 Premium Insights
4 Market Overview
4.1 Introduction
4.2 Market Segmentation
4.3 Market Dynamics
4.3.1 Key Market Drivers
4.3.1.1 Technological Innovations Propelling The Market Growth
4.3.1.2 Provision For Medication Management Services Under Healthcare Reforms Fueling Growth
4.3.1.3 Growth In Aging Population And High Incidences Of Chronic Illness Accelerating Demand For Medication Management Systems
4.3.1.4 Medication Management Systems Help Reduce Healthcare Costs
4.3.2 Key Market Restraints
4.3.2.1 Reluctance To Adopt Medication Management Systems hinders The Market Growth
4.3.2.2 High Implementation And Maintenance Expenses Will Restrain The Market Growth
4.3.3 Key Market Opportunities
4.3.3.1 Emerging Countries Offer Huge Potential For The Medication Management Systems Market
4.3.3.2 Increasing Focus On Value-Based Medicine Promoting Market Growth
4.3.4 Key Market Trends
4.3.4.1 Various Agreements And Acquisitions By Leading Vendors To Enhance Their Production Capability And Market Presence
4.3.5 Market Share Analysis
5 Global Medication Management Systems Market
5.1 Introduction
5.2 Computerized Physician Order Entry Systems
5.3 Clinical Decision Support Systems
5.4 Administration Software
5.4.1 Electronic Medication Administration Records (Emar)Software
5.4.2 Bar Code Medication Administration (Bcma) Software
5.5 Inventory Management Systems
5.6 Automated Dispensing Systems
5.6.1 Centralized Automated Dispensing Systems
5.6.1.1 Robots/Robotic Automated Dispensing Systems
5.6.1.2 Carousels
5.6.2 Decentralized Automated Dispensing Systems (Ads)
5.6.2.1 Pharmacy-Based Decentralized Automated Dispensing Systems
5.6.2.2 Ward-Based Decentralized Automated Dispensing Systems
5.6.2.3 Automated Unit-Dose Decentralized Automated Dispensing Systems
5.7 Assurance Systems
6 Global Medication Management Services Market
6.1 Medication Analytics Services
6.2 Point-Of-Care Verification Services
6.3 Adverse Drug Effects (Ade) Surveillance Services
7 Global Medication Management Systems Market, By Mode Of Delivery
7.1 Introduction
7.2 Web-Based Solutions
7.3 On-Premise Solutions
7.4 Cloud-Based Solutions
8 Global Medication Management Systems Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 Pharmacies
8.4 Other Healthcare Institutions
9 Global Medication Management Systems Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 U.K.
9.3.2 Germany
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.4 Asia-Pacific
9.4.1 Japan
9.4.2 India
9.4.3 China
9.4.4 Rest Of Asia (Roa)
9.5 Rest Of The World (Row)
9.5.1 Middle East And Africa
9.5.2 Latin America
10 Competitive Landscape
10.1 Introduction
10.2 New Product Launches
10.3 Mergers And Acquisitions
10.4 Partnerships, Collaborations, Agreements, And Alliances
10.5 Expansions
10.6 Other Developments
11 Company Profiles
11.1 Allscripts Healthcare Solutions, Inc.
11.2 Carefusion Corporation
11.3 Ge Healthcare
(A Division Of General Electric Company)
11.4 Siemens Healthcare (Subsidiary Of Siemens Ag)
11.5 Mckesson Corporation
11.6 Cerner Corporation
11.7 Optum Inc.
11.8 Quadramed Corporation
11.9 Omnicell, Inc.
11.10 Meditech
*Details On Business Overview, Product Portfolio, Key Financials, Growth Strategy, & Recent Developments Might Not Be Captured In Case Of Unlisted Companies.
List Of Tables (109 Tables)
Table 1 Global Medication Management Market Size, By Product, 2012–2019 ($Million)
Table 2 Global Market Size, By Geography, 2012–2019 ($Million)
Table 3 Global Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 4 Global Computerized Physician Order Entry (Cpoe) Systems Market Size, By Geography, 2012–2019 ($Million)
Table 5 Global Clinical Decision Support Systems Market Size, By Geography, 2012–2019 ($Million)
Table 6 Global Administration Software Market Size, By Type Of System, 2012–2019 ($Million)
Table 7 Global Administration Software Market Size, By Geography, 2012–2019 ($Million)
Table 8 Global Electronic Medication Administration Records Software Market Size, By Geography, 2012–2019 ($Million)
Table 9 Global Bar Code Medication Administration Software Market Size, By Geography, 2012–2019 ($Million)
Table 10 Global Inventory Management Software Market Size, By Geography, 2012–2019 ($Million)
Table 11 Global Automated Dispensing Systems Market Size, By Type Of System, 2012–2019 ($Million)
Table 12 Global Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 13 Global Centralized Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 14 Global Decentralized Automated Dispensing Systems Market Size, By Type Of System, 2012–2019 ($Million)
Table 15 Global Decentralized Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 16 Global Pharmacy-Based Decentralized Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 17 Global Ward-Based Decentralized Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 18 Global Automated Unit-Dose Decentralized Automated Dispensing Systems Market Size, By Geography, 2012–2019 ($Million)
Table 19 Global Assurance Systems Software Market Size, By Geography, 2012–2019 ($Million)
Table 20 Global Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 21 Global Medication Management Services Market Size, By Geography, 2012–2019 ($Million)
Table 22 Global Medication Analytics Services Market Size, By Geography, 2012–2019 ($Million)
Table 23 Global Point-Of-Care Verification Services Market Size, By Geography, 2012–2019 ($Million)
Table 24 Global Ade Surveillance Services Market Size, By Geography, 2012–2019 ($Million)
Table 25 Global Medication Management Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 26 Global Market Size, By Geography, 2012–2019 ($Million)
Table 27 Global On-Premises Medication Management Systems Market Size, By Geography, 2012–2019 ($Million)
Table 28 Global Web-Based Medical Treatment Management Systems Market Size, By Geography, 2012–2019 ($Million)
Table 29 Global Cloud-Based Medical Treatment Management Systems Market Size, By Geography, 2012–2019 ($Million)
Table 30 Global Medical Treatment Management Size, By End User, 2012–2019 ($Million)
Table 31 Global Market Size For Hospitals, 2012–2019 ($Million)
Table 32 Global Medication Management Market Size For Pharmacies, 2012–2019 ($Million)
Table 33 Global Market Size For Other Helathcare Institutions, 2012–2019 ($Million)
Table 34 North America: Medication Management Market Size, By Country, 2012–2019 ($Million)
Table 35 North America: Market Size, By Type Of System, 2012–2019 ($Million)
Table 36 North America: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 37 North America: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 38 North America: Market Size, By End User, 2012–2019 ($Million)
Table 39 U.S.: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 40 U.S.: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 41 U.S.: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 42 U.S.: Market Size, By End User, 2012–2019 ($Million)
Table 43 Canada: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 44 Canada: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 45 Canada: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 46 Canada: Market Size, By End User, 2012–2019 ($Million)
Table 47 Europe: Medication Management Market Size, By Country, 2012–2019 ($Million)
Table 48 Europe: Market Size, By Type Of System, 2012–2019 ($Million)
Table 49 Europe: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 50 Europe: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 51 Europe: Market Size, By End User, 2012–2019 ($Million)
Table 52 Germany: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 53 Germany: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 54 Germany: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 55 Germany: Market Size, By End User, 2012–2019 ($Million)
Table 56 U.K.: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 57 U.K.: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 58 U.K.: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 59 U.K.: Market Size, By End User, 2012–2019 ($Million)
Table 60 France: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 61 France: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 62 France: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 63 France: Market Size, By End User, 2012–2019 ($Million)
Table 64 Italy: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 65 Italy: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 66 Italy: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 67 Italy: Market Size, By End User, 2012–2019 ($Million)
Table 68 Spain: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 69 Spain: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 70 Spain: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 71 Spain: Market Size, By End User, 2012–2019 ($Million)
Table 72 Rest Of Europe: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 73 Rest Of Europe: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 74 Rest Of Europe: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 75 Rest Of Europe: Market Size, By End User, 2012–2019 ($Million)
Table 76 Apac: Medication Management Market Size, By Country, 2012–2019 ($Million)
Table 77 Apac: Market Size, By Type Of System, 2012–2019 ($Million)
Table 78 Apac: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 79 Apac: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 80 Apac: Market Size, By End User, 2012–2019 ($Million)
Table 81 Japan: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 82 Japan: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 83 Japan: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 84 Japan: Market Size, By End User, 2012–2019 ($Million)
Table 85 China: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 86 China: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 87 China: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 88 China: Market Size, By End User, 2012–2019 ($Million)
Table 89 India: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 90 India: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 91 India: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 92 India: Market Size, By End User, 2012–2019 ($Million)
Table 93 Roapac: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 94 Roapac: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 95 Roapac: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 96 Roapac: Market Size, By End User, 2012–2019 ($Million)
Table 97 Row: Medication Management Market Size, By Region, 2012–2019 ($Million)
Table 98 Row: Market Size, By Type Of System, 2012–2019 ($Million)
Table 99 Row: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 100 Row: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 101 Row: Market Size, By End User, 2012–2019 ($Million)
Table 102 Middle East & Africa: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 103 Middle East & Africa: Medication Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 104 Middle East & Africa: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 105 Middle East & Africa: Market Size, By End User, 2012–2019 ($Million)
Table 106 Latin America: Medication Management Market Size, By Type Of System, 2012–2019 ($Million)
Table 107 Latin America: Medical Treatment Management Services Market Size, By Type Of Service, 2012–2019 ($Million)
Table 108 Latin America: Market Size, By Mode Of Delivery, 2012–2019 ($Million)
Table 109 Latin America: Market Size, By End User, 2012–2019 ($Million)
List Of Figures (40 Figures)
Figure 1 Research Methodology
Figure 2 Market Size Estimation Methodology
Figure 3 Data Triangulation Methodology
Figure 4 Global Medication Management Market, By Type ($Million)
Figure 5 Global Market, By Mode Of Delivery ($Million)
Figure 6 Global Market: High-Growth Markets, 2014
Figure 7 Medication Management Market Segmentation
Figure 8 Medication Management Market Dynamics
Figure 9 Global Market Share Analysis, 2014
Figure 10 Key Growth Strategies, 2011-2014
Figure 11 Allscripts Healthcare Solutions, Inc.: Revenue Segmentation, 2013
Figure 12 Allscripts Healthcare Solutions, Inc.: Total Revenue, 2011–2013 ($Million)
Figure 13 Allscripts Healthcare Solutions, Inc.: Total Revenue, By Segment, 2013
Figure 14 Allscripts Healthcare Solutions, Inc.: Total Revenue, By Geography, 2013
Figure 15 Carefusion Corporation: Revenue Segmentation, 2013
Figure 16 Carefusion Corporation: Total Revenue, 2011–2013 ($Million)
Figure 17 Carefusion Carporation: Total Revenue, By Segment, 2013
Figure 18 Medical Systems: Total Revenue, By Subsegment, 2013
Figure 19 Carefusion Corporation: Total Revenue, By Geography, 2013
Figure 20 Ge: Revenue Segmentation, 2013
Figure 21 Ge: Total Revenue, 2011–2013 ($Million)
Figure 22 Ge: Total Revenue, By Segment, 2013
Figure 23 Ge: Total Revenue, By Geography, 2013
Figure 24 Siemens Ag: Total Revenue, 2011–2013 ($Million)
Figure 25 Siemens Ag: Total Revenue, By Segment, 2013
Figure 26 Siemens Ag: Total Revenue, By Geography, 2013
Figure 27 Mckesson Corporation: Revenue Segmentation, 2013
Figure 28 Mckesson Corporation: Total Revenue, 2011–2013, ($Million)
Figure 29 Mckesson Corporation: Total Revenue, By Segment, 2013
Figure 30 Mckesson Corporation: Total Revenue, By Geography, 2013
Figure 31 Cerner Corporation: Revenue Segmentation, 2013
Figure 32 Cerner Corporation: Total Revenue, 2011-2013, ($Million)
Figure 33 Cerner Corporation: Total Revenue, By Segments, 2013
Figure 34 Cerner Corporation: Total Revenue, By Geography, 2013
Figure 35 Optum Inc.: Revenue Segmentation, 2013
Figure 36 Optum Inc.: Total Revenue, 2011-2013, ($Million)
Figure 37 Optum Inc.: Total Revenue, By Segments, 2013
Figure 38 Omnicell, Inc.: Revenue Segmentation, 2013
Figure 39 Omnicell, Inc.: Total Revenue, 2011-2013 ($Million)
Figure 40 Omnicell, Inc.: Total Revenue, By Segments, 2013
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