FEATURED COMPANIES
- AdhereTech Inc
- Cardinal Health
- DrFirst.com, Inc.
- Koninklijke Philips N.V.
- McKesson Corporation
- MedMinder
Medication Adherence Global Market Opportunities and Strategies To 2030: COVID-19 Impact and Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global medication adherence market as it emerges from the COVID 19 shut down.
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Description:
Where is the largest and fastest growing market for medication adherence? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The medication adherence market global report from the publisher answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider medication adherence market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives brief introduction about segmentation by geography, segmentation by type, and segmentation by medication.
- Market Characteristics - The market characteristics section of the report defines and explains the medication adherence market. This chapter also defines and describes goods and related services covered in the report.
- Trends and Strategies - This chapter describes the major trends shaping the global medication adherence market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact of COVID-19 - This section describes the impact of COVID-19 on the medication adherence market.
- Global Market Size and Growth - This section contains the global historic (2015-2020) and forecast (2020-2025), and (2025-2030) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2015-2020) and forecast (2020-2025), and (2025-2030) market values and growth and market share comparison by region.
- Market Segmentation - This section contains the market values (2015-2030) and analysis for different segments.
- Regional Market Size and Growth - This section contains the region’s market size (2020), historic (2015-2020) and forecast (2020-2025), and (2025-2030) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region. The market overview sections of the report describe the current size of the market, background information, government initiatives, regulations, regulatory bodies, associations, corporate tax structure, investments, and major companies.
- Competitive Landscape - This section covers details on the competitive landscape of the global medication adherence market, estimated market shares and company profiles for the leading players.
- Key Mergers and Acquisitions - This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions and Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for medication adherence in terms of services offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- By Type: Hardware Centric; Software Centric
- By Medication: Cardiovascular; Central Nervous System; Diabetes; Oncology; Gastrointestinal; Musculoskeletal; Orthopedic; Others
Companies Mentioned:
Omnicell Inc.; Koninklijke Philips N.V.; Cardinal Health; McKesson Corporation; Allscripts Healthcare Solutions, Inc; CareFusion (Becton Dickenson); Proteus Digital Health; DrFirst.com, Inc.; AdhereTech Inc; MedMinder
Countries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; medication adherence indicators comparison.
Data segmentations:
Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Medication Adherence Market
What is the estimated value of the Global Medication Adherence Market?
What is the growth rate of the Global Medication Adherence Market?
What is the forecasted size of the Global Medication Adherence Market?
Who are the key companies in the Global Medication Adherence Market?
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- AdhereTech Inc
- Cardinal Health
- DrFirst.com, Inc.
- Koninklijke Philips N.V.
- McKesson Corporation
- MedMinder
1. Medication Adherence Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Medication Adherence Market Characteristics
8. Medication Adherence Market Trends and Strategies
9. Impact Of COVID-19 On Medication Adherence Market
10. Global Medication Adherence Size and Growth
11. Global Medication Adherence Segmentation
12. Medication Adherence Market, Regional and Country Analysis
13. Asia-Pacific Medication Adherence Market
14. Western Europe Medication Adherence Market
15. Eastern Europe Medication Adherence Market
16. North America Medication Adherence Market
17. South America Medication Adherence Market
18. Middle East Medication Adherence Market
19. Africa Medication Adherence Market
20. Global Medication Adherence Market Competitive Landscape
21. Key Mergers and Acquisitions In The Medication Adherence Market
22. Medication Adherence Market Opportunities and Strategies
23. Medication Adherence Market, Conclusions and Recommendations
24. Appendix
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- AdhereTech Inc
- Cardinal Health
- DrFirst.com, Inc.
- Koninklijke Philips N.V.
- McKesson Corporation
- MedMinder
This report describes and evaluates the global medication adherence market. It covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the periods 2025-2030.
The global medication adherence market reached a value of nearly $2,438.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 10.0% since 2015. The market is expected to decline from $2,529.6 million in 2019 to $2,438.2 million in 2020 at a rate of -3.6%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 11.4% from 2021 and reach $4,181.3 million in 2025. It is expected reach $6,497.0 million in 2030, at a CAGR of 9.2%.
Growth in the historic period resulted from rapid growth in elderly population, strong economic growth in emerging markets, rise in healthcare expenditure, rise in usage of pharmaceuticals, and rising prevalence of cardiovascular diseases. Factors that negatively affected growth in the historic period were lack of healthcare infrastructure, and lockdown and social distancing norms owing to the COVID-19 outbreak. Going forward, increasing prevalence of chronic diseases, increasing adoption of smartphones, increasing demand for personalized healthcare technologies, and advances in medicine will drive the growth. Factors that could hinder the growth of the medication adherence market in the future include privacy concerns, home healthcare services, non-medical apps and reminders and costly medications.
The medication adherence market is segmented by type into hardware centric, and software centric. The software centric market was the largest segment of the medication adherence market segmented by type, accounting for 59.6% of the total in 2020. Going forward, the hardware centric segment is expected to be the fastest growing segment in the medication adherence market, at a CAGR of 14.4% during 2020-2025.
The medication adherence market is also segmented by medication into cardiovascular, central nervous system, diabetes, oncology, gastrointestinal, musculoskeletal, and others. The others market was the largest segment of the medication adherence market segmented by medication, accounting for 40.7% of the total in 2020. Going forward, the others segment is expected to be the fastest growing segment in the medication adherence market, at a CAGR of 11.2% during 2020-2025.
North America was the largest region in the global medication adherence market, accounting for 39.9% of the total in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the medication adherence market will be Asia Pacific, and Western Europe where growth will be at CAGRs of 12.6% and 10.0% respectively. These will be followed by the Middle East, and South America, where the markets are expected to grow at CAGRs of 14.0% and 15.5% respectively.
The global medication adherence market is concentrated, with few large players with significant market share and presence large of small players in the market. The top ten competitors in the market made up to 64.5% of the total market in 2020. Major players in the market include Omnicell Inc., Koninklijke Philips N.V., Cardinal Health, McKesson Corporation, and Allscripts Healthcare Solutions, Inc.
The top opportunities in the medication adherence market segmented by type will arise in the software centric market segment, which will gain $2,244.5 million of global annual sales by 2025. The top opportunities in the medication adherence market segmented by medication will arise in the others segment, which will gain $1,688.3 million of global annual sales by 2025. The medication adherence market size will gain the most in the USA at $1,582.3 million.
Market-trend-based strategies for the medication adherence market include cloud-based medication adherence, gamification modes especially for children, developing smart pill containers with innovative features, developing medical adherence apps with innovative features, developing wearable sensors, developing ingestible biosensors, focusing on partnerships and collaborations, and focusing on developing innovative products. Player-adopted strategies in the medication adherence market include strengthening business through the launch of new solutions, and expanding through strategic partnerships.
Amidst the unprecedented outbreak of corona virus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. This has decreased short-term potential growth opportunities for the medication adherence industry. Healthcare systems in low-and middle-income countries (LMICs) are especially challenged because the pandemic will further crumble the already weak health systems in these countries. These health systems are working with several constraints such as limited financial resources, inadequate health personnel, and unavailability of medications, which is negatively impacting the country’s medication adherence market.
To take advantage of the opportunities, the publisher recommends the medication adherence companies to focus on investing in production of smart pill container, focus on investing on development of ingestible biosensors, offer skimmed pricing, focus on developed and emerging markets, leveraging e-commerce to maximize reach and revenues, leveraging social media platforms and targeting local pharmacies to spread awareness.
The global medication adherence market reached a value of nearly $2,438.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 10.0% since 2015. The market is expected to decline from $2,529.6 million in 2019 to $2,438.2 million in 2020 at a rate of -3.6%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 11.4% from 2021 and reach $4,181.3 million in 2025. It is expected reach $6,497.0 million in 2030, at a CAGR of 9.2%.
Growth in the historic period resulted from rapid growth in elderly population, strong economic growth in emerging markets, rise in healthcare expenditure, rise in usage of pharmaceuticals, and rising prevalence of cardiovascular diseases. Factors that negatively affected growth in the historic period were lack of healthcare infrastructure, and lockdown and social distancing norms owing to the COVID-19 outbreak. Going forward, increasing prevalence of chronic diseases, increasing adoption of smartphones, increasing demand for personalized healthcare technologies, and advances in medicine will drive the growth. Factors that could hinder the growth of the medication adherence market in the future include privacy concerns, home healthcare services, non-medical apps and reminders and costly medications.
The medication adherence market is segmented by type into hardware centric, and software centric. The software centric market was the largest segment of the medication adherence market segmented by type, accounting for 59.6% of the total in 2020. Going forward, the hardware centric segment is expected to be the fastest growing segment in the medication adherence market, at a CAGR of 14.4% during 2020-2025.
The medication adherence market is also segmented by medication into cardiovascular, central nervous system, diabetes, oncology, gastrointestinal, musculoskeletal, and others. The others market was the largest segment of the medication adherence market segmented by medication, accounting for 40.7% of the total in 2020. Going forward, the others segment is expected to be the fastest growing segment in the medication adherence market, at a CAGR of 11.2% during 2020-2025.
North America was the largest region in the global medication adherence market, accounting for 39.9% of the total in 2020. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the medication adherence market will be Asia Pacific, and Western Europe where growth will be at CAGRs of 12.6% and 10.0% respectively. These will be followed by the Middle East, and South America, where the markets are expected to grow at CAGRs of 14.0% and 15.5% respectively.
The global medication adherence market is concentrated, with few large players with significant market share and presence large of small players in the market. The top ten competitors in the market made up to 64.5% of the total market in 2020. Major players in the market include Omnicell Inc., Koninklijke Philips N.V., Cardinal Health, McKesson Corporation, and Allscripts Healthcare Solutions, Inc.
The top opportunities in the medication adherence market segmented by type will arise in the software centric market segment, which will gain $2,244.5 million of global annual sales by 2025. The top opportunities in the medication adherence market segmented by medication will arise in the others segment, which will gain $1,688.3 million of global annual sales by 2025. The medication adherence market size will gain the most in the USA at $1,582.3 million.
Market-trend-based strategies for the medication adherence market include cloud-based medication adherence, gamification modes especially for children, developing smart pill containers with innovative features, developing medical adherence apps with innovative features, developing wearable sensors, developing ingestible biosensors, focusing on partnerships and collaborations, and focusing on developing innovative products. Player-adopted strategies in the medication adherence market include strengthening business through the launch of new solutions, and expanding through strategic partnerships.
Amidst the unprecedented outbreak of corona virus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. This has decreased short-term potential growth opportunities for the medication adherence industry. Healthcare systems in low-and middle-income countries (LMICs) are especially challenged because the pandemic will further crumble the already weak health systems in these countries. These health systems are working with several constraints such as limited financial resources, inadequate health personnel, and unavailability of medications, which is negatively impacting the country’s medication adherence market.
To take advantage of the opportunities, the publisher recommends the medication adherence companies to focus on investing in production of smart pill container, focus on investing on development of ingestible biosensors, offer skimmed pricing, focus on developed and emerging markets, leveraging e-commerce to maximize reach and revenues, leveraging social media platforms and targeting local pharmacies to spread awareness.
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Omnicell Inc.
- Koninklijke Philips N.V.
- Cardinal Health
- McKesson Corporation
- Allscripts Healthcare Solutions, Inc.
- CareFusion (Becton Dickenson)
- Proteus Digital Health
- DrFirst.com, Inc.
- AdhereTech Inc
- MedMinder
Note: Product cover images may vary from those shown
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