Medication Management Market Worth $1,624.9 Million by 2019
DALLAS, August 7, 2014--According to the new market research report "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", published by MarketsandMarkets, analyzes and studies major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
This report studies the global Medication Management Market, with forecast to 2019.
Medication management systems ensure tracking and validation of the medication administered to patients at all points of care. These systems help healthcare organizations to minimize medical errors occurring in the healthcare environment. Owing to these benefits, the global Medication Management Market has received a major boost over the past few years.
With a significant increase in the elderly population and growth in treatment of long-term care diseases, an increasing number of patients across the world are using daily medication prescriptions. This has increased the risks of medication errors in the healthcare environment. Medication errors are responsible for a large number of hospital readmissions which adds to overall cost of healthcare services, which increases the burden on healthcare systems. Currently, an increasing number of healthcare organizations and governments across the globe are considering medication management solutions as tools for minimizing their overall healthcare costs. This can be achieved by minimizing the hospital stay for patients, while delivering better quality of care at the same time.
The global Medication Management Market is estimated to grow at a healthy double-digit growth rate in the coming years. This growth is largely driven by the growing adoption of medication management solutions by healthcare organizations in both developed and developing countries across the world. In addition, investments by emerging countries such as China and South Korea in the medication management sector, the rising need for better healthcare, and an increase in government initiatives globally will help propel the growth of this market. However, medication management systems are perceived to be capital intensive solutions, which demand significant investments from a healthcare organization for their successful implementation and utilization. Thus, high cost of software implementation and the expenses associated with its timely up gradation and maintenance may hinder the growth of the Medication Management Market to a certain extent.
In this report, the global Medication Management Market is segmented by systems/software, services, modes of delivery, end users, and geography. This report also covers main market drivers, restraints, opportunities, and threats in the Medication Management Market. The global medication management systems market, estimated to be valued at $845.1 million in 2014, is poised to grow at a CAGR between 13% and 15% during the forecast period of 2014 to 2019.
Inquiry before buying @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=107137346
North America is estimated to be the largest market, accounting for a share of more than 60% of the global Medication Management Market in 2014, followed by Europe, Asia-Pacific (APAC), and the Rest of the World (RoW), respectively. Growth in the ageing population, increasing government funding, and healthcare reforms are the factors that have supported the growth of the North American medication management market.
The Medication Management Market is a fragmented market with companies like CareFusion Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), and Siemens Healthcare (Germany) commanding a majority share of the market in 2013.
Browse related reports
Clinical Decision Support System (CDSS) Market by Product - Integrated (EHR, CPOE)], Model (Knowledge-based), Applications (Drug Allergy Alerts, Drug Interactions), Delivery Mode (Web-based, Cloud-based), Component (Hardware, Software) - Global Forecast to 2018
Healthcare IT Market By Application [Provider IT (EMR, PACS, CPOE, RIS, CDSS, RCM, Claims Management, Payroll), Payer IT (CRM, Fraud Detection)], Delivery Mode (On-Premises, Web-Based Services & Cloud Computing) & Component - Global Forecasts to 2017.
http://www.marketsandmarkets.com/Market-Reports/healthcare-it-252.html
About MarketsandMarkets
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, healthcare IT semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
North - Dominion Plaza,
17304, Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog http://mnmblog.org/market-research/healthcare/healthcareit