The expanding need for enhanced medication compliance management, growing incidence of chronic illnesses, expanding elderly demographic, growing demands for mobile nutrition, and growing need for customized medicine are the primary drivers driving industry expansion. Expansion in the historical era was caused by a significant increase in the older demographic, a significant economic increase in developing economies, an increase in medical spending, an increase in medication consumption, and an increase in the incidence of cardiac illnesses. The absence of healthcare facilities, as well as shutdown and societal separation norms resulting from the COVID-19 pandemic, were issues that hampered the development of the industry.
The increased frequency of chronic illnesses can be ascribed to a variety of causes, including inactive habits, deteriorating air pollution, as well as increased pollution concentrations, to name a few. Growing persistent illnesses need the usage of prescription medications, prompting consumers to engage in treatment solutions in order to prevent losing out on drug consumption. This will have a favorable influence on the medication compliance management industry throughout the projection timeframe.
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Key Players- Medication Compliance Management Market
- Aardex Group Propeller Health
- Allscripts Healthcare Solutions, Inc
- Cardinal Health
- eLucid mHealth
- Health Beacon
- InHandPlus Inc.
- Koninklijke Phillips N.V
- McKesson Corporation
- Omnicell Inc
The rising frequency of chronically illnesses, increased cellphone use, growing demands for customized medical technology, and improvements in medical will fuel development in the future. Privacy issues, homecare solutions, non-medical applications and notifications, and expensive pharmaceuticals are all reasons that might slow the development of the treatment industry in the coming years.
North America is expected to lead the market due to factors including increased clinical research incidences, an increase in the elderly population, healthcare care demand, as well as R&D investment in health care advancements in the area. North America is trailed by Europe as a result of factors including regular product introductions, improved medical facilities, and the development of a large number of trained people.
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Medication Compliance Management Market Report Highlights
- As per the 2019 UN Department of Economic and Social Affairs (UNDESA) study on the world demographic, Northern America is expected to see a large increase in its aging population through 2050, that would boost its medication industry further
- Chronic illnesses, for example, are expected to afflict 164 million Americans by 2025, accounting for nearly half (49 percent) of the population.
Medication Compliance Management Market Segmentation
The research report published by Market Research Strategy contains industry segments, as below-
Medication Compliance Management Type Outlook (Revenue, USD Million, 2016 – 2027)
- Hardware Centric
- Software Centric
Medication Compliance Management Application Outlook (Revenue, USD Million, 2016 – 2027)
- Central Nervous System (CNS)
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