Medication Management Market Expected to be Witness the Fastest Growth in the Asia-Pacific

The rapid increase in aging population, technological advancement, increasing demand for reducing healthcare cost, and increasing need for remote patient monitoring are the major factors leading to the high demand medication management market, globally.

Different type of medication management systems includes clinical decision support systems, computerized physician order entry systems, inventory management systems, assurance systems, administration software and automated dispensing systems. Among all these systems, computerized physician order entry systems account for the largest revenue in the market.

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There are three modes of delivery in the medication management market, web-based solutions, cloud-based solutions and on-premise solutions. Of all mode of delivery, the web-based solutions accounted the largest share in the medication management market. Low maintenance and IT infrastructure requirements are some of the factors responsible for the growth of the web-based solution segment. The cloud-based solutions are expected to grow at the fastest rate during the forecast period.

North America is the largest medication management market primarily during to the high healthcare cost and increasing prevalence of chronic diseases. For instance, according to Centers of Disease Control and Prevention (CDC), in the U.S. approximately 610,000 people die every year due to heart disease. Asia-Pacific is predicted to observe the fastest growth in the market, as the region comprises of large population base.

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Key players in the medication management market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. Allscripts Healthcare Solutions, Inc., Cerner Corporation, CareFusion Corporation, Siemens Healthcare, GE Healthcare, Optum Inc., McKesson Corporation, Epiq System Corporation, Qualcomm Incorporated, Quadramed Corporation, Omnicell, Inc. and Meditech are the key players offering medication management.

Source: VynZ Research

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Created on Feb 8th 2019 04:23. Viewed 368 times.

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