THE GLOBAL MEDICATION MANAGEMENT MARKET SIZE TO REACH USD 4,517.87 MILLION BY 2026, GROWING AT A CAGR OF 15.15% DURING THE PERIOD 2021-2026

Medication Management Market Size, Share, Trends Analysis Report By Software Type (Computerized Physician Order Entry (CPOE), Clinical Decision Support System (CDSS), Automated Dispensing Systems (ADS), Drugs Inventory Management System (DIMS), and Others), Delivery Mode (Web & Cloud-Based and On-Premises), End-User (Hospitals, Pharmacies, and Others), and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026

GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

299 Pages

114 Tables

141 Charts

5 Regions

18 Countries

24 Companies

4 Market Segment

MEDICATION MANAGEMENT MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 4.52 BILLION (2026)
CAGR 15.15% (2021-2026)
Base Year 2020
Forecast Year 2021-2026
Market Segments Software Type (Computerized Physician Order Entry (CPOE), Clinical Decision Support System (CDSS), Automated Dispensing Systems (ADS), Drugs Inventory Management System (DIMS), and Others), Delivery Mode (Web & Cloud Based and On-Premises), and End-User (Hospitals, Pharmacies, and Others)
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
Countries Covered US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, and Turkey

MEDICATION MANAGEMENT MARKET OUTLOOK

The global medication management market is valued at an estimated USD 1.93 billion in 2020 and is expected to grow at a CAGR of 15.15% from 2020 to 2026, to reach USD 4.52 billion in 2026.

With the high adoption of IT in the healthcare industry globally, there will be an increase in the adoption of medication management systems. North America dominates the global market with the largest revenue share of 52.57% in 2020. The demand for these systems is increasing due to the growing need for remote patient monitoring services across healthcare. The increasing role of digital health, demand for pharmacy automation solutions, and active involvement of vendors will contribute to the growth of the medication management market.

The new generation of artificial intelligence (AI)-powered systems play a crucial role in identifying and addressing the root causes of medication systems across the healthcare industry. Patient-centric care is possible across the continuum of care with the use of these IT-integrated medication management systems. This helps evaluate the dynamics of patients’ clinical, medication, and related administrative information and fuel the industry's growth. Several companies are being actively involved with huge acquisitions and agreements with emerging and start-up companies.

SNIPPETS

  • Based on delivery mode, the web & cloud-based segment accounted for the largest revenue share of 53.90% in the global market in 2020.
  • The rapid implementation of health IT solutions by hospitals has led to a sharp increase in medication systems across the US. The medication management market in the US is expected to reach USD 1,979.79 million by 2026.
  • The widespread implementation of eHealth has raised the demand for medication management in Europe.
  • Based on software type, CPOE accounted for the highest revenue share of 40.45% in the global market in 2020.

MEDICATION MANAGEMENT MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Software Type
  • Delivery Mode
  • End-User
  • Geography

SEGMENTATION ANALYSIS

Computerized physician order entry (CPOE) is likely to witness incremental growth of USD 938.54 million by 2026.

CPOE is an integral and key component of medication management within hospital settings. Providers are increasingly adopting CPOE because of the Medicare and Medicaid incentive programs for meaningful use of electronic health records. CPOE accounted for the highest revenue share of 40.45% in the global medication management system market in 2020. The use of CPOE has increased steadily over time. Many EHR products now come being equipped with CPOE modules that enabling physicians to enter patient data electronically.

The global web and cloud-based segment is expected to reach USD 2,509.88 million by 2026. 

Web and cloud-based solutions are expected to contribute to and improve several aspects of the healthcare sector. Medicine orders can be quickly digitized directly into a single, web-based application that supports customized workflows. Many companies are developing web and cloud-based medication management systems such as CareMeds, Omnicell, PipelineRx, etc.

In 2020, the hospital’s segment accounted for the highest revenue share of 47.89% in the global medication management market share. 

Medication management in hospitals is vitally important to the delivery of safe care. Hospitals are using telemedicine to improve their link to pharmacy services at any time, improving medication systems for patients. Electronic medications management systems support all the stakeholders within the process and provide the patient-centric care model. Such developments are contributing to the rising uptake of medication systems in hospitals.

GEOGRAPHICAL INSIGHTS

In North America, the constant development in the healthcare IT sector is surging the adoption of digital solutions such as medication systems. The rapid increase in the number of older people's medicines leads to a sharp rise in adverse drug reactions (ADRs). With the advent of COVID-19, these systems became highly essential across the region. The North American region will likely show increasing growth in the industry owing to growing advancements during the forecast period. The North America medication management market will grow at a CAGR of 13.44% in the upcoming year.

INSIGHTS BY VENDORS

Most of the leading players are focusing on implementing various strategies to boom in the market. Manufacturers compete directly with several companies in the medication management automation solutions market. The medication management industry is intensely competitive. The players are anticipated to lucrative growth opportunities with the rising demand for systems in the global industry. Key vendors have a wide geographical reach, diversified product portfolio, and a strong focus on innovation and research activities. Major key players accounting for the significant share in the market are Cerner Corporation, BD, Omnicell, McKesson Corporation, Epic Systems, and United Health Group.

The global medication management market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Software Type

  • Computerized Physician Order Entry (CPOE)
  • Clinical Decision Support System (CDSS)
  • Automated Dispensing Systems (ADS)
  • Drugs Inventory Management System (DIMS)
  • Others

Delivery Mode

  • Web & Cloud-Based
  • On-Premises

End-User

  • Hospitals
  • Pharmacies
  • Others

Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
  • APAC
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Turkey

Frequently Asked Questions

The medication Management market is projected to grow at a CAGR of 15.15% during the forecast period.
Medication management systems have widely helped the management of vaccines during the COVID-19.
North America accounted for the largest revenue share of 52.57% in the global market in 2020.
The new generation of artificial intelligence (AI)-powered medication management systems is the recent development in the market.
Omnicell, Epic Systems Corporation, BD, Epic Systems Corporation, McKesson Corporation, and UnitedHealth Group are the top key players in the market.
Download Free Sample
Read More

Select a license type that suits your business needs

Single User Licence
$3750.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5 User Licence
$4250.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Corporate Licence
$5250.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Datasheet Licence
$1500.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Select a license type that suits your business needs

Best Value Tag
Coming Soon
  • Stay tuned with us.

YOU CAN GET A FREE SAMPLE OF THIS REPORT!

Fill out your details & get your free sample

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Our Clients

Licence Types What are these?

Our Clients Speak

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date