Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.25 Billion | USD 5.87 Billion | 10.90% | 2021 |
FrequentlyAsked Questions
The major factors influencing the growth of the global medical medication management market include an increase in the adoption of new technologies in hospitals, a rise in the need to decrease healthcare costs, decrease in medication errors, streamline workflows, and rise in the cases of chronic diseases among people across the globe.
According to the report, the global medication management market size was around USD 2.25 billion in 2021 and is projected to grow to around USD 5.87 billion by 2030, with a compounded annual growth rate (CAGR) of roughly 10.90% from 2022 to 2030.
The global medication management market is expected to be driven by the North American region. This is mainly due to the increase in the geriatric population, adoption of a sedentary lifestyle among millennials, presence of advanced healthcare infrastructure, increased number of prescriptions, and extensive adoption of IT in healthcare in the region driving the growth of the market in this region.
The major players in the global medication management industry include Cerner Corporation, GE Healthcare, McKesson Corporation, Medication Management Systems Inc., Siemens Healthcare Private Limited, Optum, Inc., Medical Information Technology, Inc., Omnicell Inc, Talyst, LLC, QuadraMed Affinity Corporation, BIQHS, Allscripts, Healthcare Solutions, ARxIUM, BD, Wiegand AG, NEXUS AG, Genoa, Cardinal Health among other global players.
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