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Medication Adherence Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery

  • ID: 5440749
  • Report
  • September 2021
  • Region: Global
  • 250 Pages
  • The Business Research Company

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:



  1. By Type: Hardware Centric; Software Centric
  2. 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?

The Global Medication Adherence Market was estimated to be valued at $2438.2 Million in 2020.

What is the growth rate of the Global Medication Adherence Market?

The growth rate of the Global Medication Adherence Market is 10.3%, with an estimated value of $6497.0 Million by 2030.

What is the forecasted size of the Global Medication Adherence Market?

The Global Medication Adherence Market is estimated to be worth $6497.0 Million by 2030.

Who are the key companies in the Global Medication Adherence Market?

Key companies in the Global Medication Adherence Market include Omnicell Inc., Koninklijke Philips N.V., Cardinal Health, McKesson Corporation, Allscripts Healthcare Solutions, Inc., CareFusion (Becton Dickenson), Proteus Digital Health, DrFirst.com, Inc. and MedMinder.
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
6.1. Segmentation By Geography
6.2. Segmentation By Type
6.3. Segmentation By Medication
7. Medication Adherence Market Characteristics
7.1. Market Definition
7.2. Segmentation By Type
7.2.1. Hardware Centric
7.2.2. Software Centric
7.3. Segmentation By Medication
7.3.1. Cardiovascular
7.3.2. Central Nervous System
7.3.3. Diabetes
7.3.4. Oncology
7.3.5. Musculoskeletal
7.3.6. Gastrointestinal
7.3.7. Orthopedic
7.3.8. Others
8. Medication Adherence Market Trends and Strategies
8.1. Cloud-Based Medication Adherence
8.2. Gamification In Medication Adherence For Children
8.3. Rising Demand For Smart Pill Container
8.4. Increasing Use Of Smartphone Medical Adherence Apps
8.5. Strategic Partnerships and Business Expansions
8.6. Use Of Wearable Sensors
8.7. Ingestible Biosensors for Medication Adherence
8.8. New Product Launches
8.9. Expanding interest for packaging types
8.10. New payment models
9. Impact Of COVID-19 On Medication Adherence Market
9.1. COVID-19 Impact and Solutions
9.2. Psychological Issues Promote Decreasing Adherence To Medication Routines
9.3. Severe Impact On Low- and Middle- Income Countries
9.4. Impact On Geriatric Population
10. Global Medication Adherence Size and Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020- 2025
11. Global Medication Adherence Segmentation
11.1. Global Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global Medication Adherence Market, Segmentation By Medication, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12. Medication Adherence Market, Regional and Country Analysis
12.1. Global Medication Adherence Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Medication Adherence Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13. Asia-Pacific Medication Adherence Market
13.1. Asia-Pacific Medication Adherence Market Overview
13.1.1. Region Information
13.1.2. Impact Of COVID-19
13.1.3. Market Information
13.1.4. Background Information
13.1.5. Government Initiatives
13.1.6. Regulations
13.1.7. Regulatory Bodies
13.1.8. Major Associations
13.1.9. Corporate Tax Structure
13.1.10. Investments
13.1.11. Major Companies
13.2. Asia-Pacific Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.3. Asia-Pacific Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.4. Asia-Pacific Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.5. Asia-Pacific Medication Adherence Market: Country Analysis
13.6. China Medication Adherence Market
13.7. China Medication Adherence Market Overview
13.7.1. Country Information
13.7.2. Impact Of COVID-19
13.7.3. Market Information
13.7.4. Background Information
13.7.5. Government Initiatives
13.7.6. Regulatory Bodies
13.7.7. Corporate Tax Structure
13.7.8. Major Companies
13.8. China Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.9. China Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.10. China Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.11. India Medication Adherence Market
13.12. India Medication Adherence Market Overview
13.12.1. Country Information
13.12.2. Impact Of COVID-19
13.12.3. Market Information
13.12.4. Background Information
13.12.5. Government Initiatives
13.12.6. Regulations
13.12.7. Regulatory Bodies
13.12.8. Major Associations
13.12.9. Corporate Tax Structure
13.12.10. Investment
13.12.11. Major Companies
13.13. India Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.14. India Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.15. India Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.16. Japan Medication Adherence Market
13.17. Japan Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.18. Japan Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.19. Japan Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.20. Australia Medication Adherence Market
13.21. Australia Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.22. Australia Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.23. Australia Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.24. Indonesia Medication Adherence Market
13.25. Indonesia Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.26. Indonesia Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.27. Indonesia Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
13.28. South Korea Medication Adherence Market
13.29. South Korea Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
13.30. South Korea Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030FValue ($ Million)
13.31. South Korea Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
14. Western Europe Medication Adherence Market
14.1. Western Europe Medication Adherence Market Overview
14.1.1. Region Information
14.1.2. Impact Of COVID-19
14.1.3. Market Information
14.1.4. Background Information
14.1.5. Government Initiatives
14.1.6. Regulations
14.1.7. Regulatory Bodies
14.1.8. Major Associations
14.1.9. Taxes Levied
14.1.10. Corporate Tax Structure
14.1.11. Investments
14.1.12. Major Companies
14.2. Western Europe Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
14.3. Western Europe Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
14.4. Western Europe Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
14.5. Western Europe Medication Adherence Market: Country Analysis
14.6. UK Medication Adherence Market
14.7. UK Medication Adherence Market Overview
14.7.1. Country Information
14.7.2. Impact Of COVID-19
14.7.3. Market Information
14.7.4. Background Information
14.7.5. Government Initiatives
14.7.6. Regulations
14.7.7. Regulatory Bodies
14.7.8. Major Associations
14.7.9. Taxes Levied
14.7.10. Corporate Tax Structure
14.7.11. Investments
14.7.12. Major Companies
14.8. UK Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
14.9. UK Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
14.10. UK Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
14.11. Germany Medication Adherence Market
14.12. Germany Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
14.13. Germany Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
14.14. Germany Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
14.15. France Medication Adherence Market
14.16. France Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
14.17. France Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
14.18. France Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
15. Eastern Europe Medication Adherence Market
15.1. Eastern Europe Medication Adherence Market Overview
15.1.1. Region Information
15.1.2. Impact Of COVID-19
15.1.3. Market Information
15.1.4. Background Information
15.1.5. Number Of Surgeries
15.1.6. Healthcare expenditure
15.1.7. Public Healthcare Expenditure
15.1.8. Private Healthcare Expenditure
15.1.9. Healthcare Services Market Size
15.1.10. Pharmaceuticals
15.1.11. Per Capita Net Disposable Income
15.1.12. Population By Age Group
15.1.13. Government Initiatives
15.1.14. Regulatory Bodies
15.1.15. Major Associations
15.1.16. Corporate Tax Structure
15.1.17. Investments
15.1.18. Major Companies
15.2. Eastern Europe Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
15.3. Eastern Europe Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
15.4. Eastern Europe Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
15.5. Eastern Europe Medication Adherence Market: Country Analysis
15.6. Russia Medication Adherence Market
15.7. Russia Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
15.8. Russia Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
15.9. Russia Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
16. North America Medication Adherence Market
16.1. North America Medication Adherence Market Overview
16.1.1. Region Information
16.1.2. Impact of COVID-19
16.1.3. Market Information
16.1.4. Background Information
16.1.5. Government Initiatives
16.1.6. Regulations
16.1.7. Regulatory Bodies
16.1.8. Major Associations
16.1.9. Taxes Levied
16.1.10. Corporate Tax Structure
16.1.11. Investments
16.1.12. Major Companies
16.2. North America Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
16.3. North America Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
16.4. North America Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
16.5. North America Medication Adherence Market: Country Analysis
16.6. USA Medication Adherence Market
16.7. USA Medication Adherence Market Overview
16.7.1. Country Information
16.7.2. Impact of COVID-19
16.7.3. Market Information
16.7.4. Background Information
16.7.5. Government Initiatives
16.7.6. Regulations
16.7.7. Regulatory Bodies
16.7.8. Major Associations
16.7.9. Taxes Levied
16.7.10. Corporate Tax Structure
16.7.11. Investments
16.7.12. Major Companies
16.8. USA Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
16.9. USA Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
16.10. USA Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
17. South America Medication Adherence Market
17.1. South America Medication Adherence Market Overview
17.1.1. Region Information
17.1.2. Impact Of COVID-19
17.1.3. Market Information
17.1.4. Background Information
17.1.5. Government Initiatives
17.1.6. Regulations
17.1.7. Regulatory Bodies
17.1.8. Corporate Tax Structure
17.1.9. Investments
17.1.10. Major Companies
17.2. South America Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
17.3. South America Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
17.4. South America Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
17.5. South America Medication Adherence Market: Country Analysis
17.6. Brazil Medication Adherence Market
17.7. Brazil Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
17.8. Brazil Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
17.9. Brazil Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
18. Middle East Medication Adherence Market
18.1. Middle East Medication Adherence Market Overview
18.1.1. Region Information
18.1.2. Impact Of COVID-19
18.1.3. Market Information
18.1.4. Background Information
18.1.5. Government Initiatives
18.1.6. Regulations
18.1.7. Regulatory Bodies
18.1.8. Major Associations
18.1.9. Corporate Tax Structure
18.1.10. Investments
18.1.11. Major Companies
18.2. Middle East Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
18.3. Middle East Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
18.4. Middle East Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
19. Africa Medication Adherence Market
19.1. Africa Medication Adherence Market Overview
19.1.1. Region Information
19.1.2. Impact Of COVID-19
19.1.3. Background Information
19.1.4. Government Initiatives
19.1.5. Regulations
19.1.6. Regulatory Bodies
19.1.7. Associations
19.1.8. Major Companies
19.2. Africa Medication Adherence Market, Historic Market Growth, 2015 - 2020, Value ($ Million)
19.3. Africa Medication Adherence Market, Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
19.4. Africa Medication Adherence Market, Segmentation By Type, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
20. Global Medication Adherence Market Competitive Landscape
20.1. Company Profiles
20.2. Omnicell Inc.
20.2.1. Company Overview
20.2.2. Products and Services
20.2.3. Business Strategy
20.2.4. Financial Overview
20.3. Koninklijke Philips N.V.
20.3.1. Company Overview
20.3.2. Products and Services
20.3.3. Business Strategy
20.3.4. Financial overview
20.4. Cardinal Health
20.4.1. Company Overview
20.4.2. Products and Services
20.4.3. Business Strategy
20.4.4. Financial Overview
20.5. McKesson Corporation
20.5.1. Company Overview
20.5.2. Products and Services
20.5.3. Business Strategy
20.5.4. Financial Overview
20.6. Allscripts Healthcare Solutions, Inc.
20.6.1. Company Overview
20.6.2. Products and Services
20.6.3. Business Strategy
20.6.4. Financial Overview
21. Key Mergers and Acquisitions In The Medication Adherence Market
21.1. Accelmed Partners Acquired MedMinder Systems Inc.
21.2. Philips Acquired Capsule Technologies
21.3. PHC Holdings Acquired Amelieff Corporation
21.4. MedAdvisor Acquired Adheris
21.5. IngenioRx, Inc Acquired ZipDrug
21.6. Philips Acquired Carestream Health
21.7. ResMed Acquired Propeller Health
21.8. OraSure Technologies, Inc. Acquired UrSure, Inc.
21.9. TrialCard Acquired Mago Health
21.10. OptimizeRx Acquired RMDY Health
21.11. Cardinal Health Acquired mscripts
21.12. OptimizeRx Acquired CareSpeak Communications
21.13. Alto Pharmacy Acquired Round Health
22. Medication Adherence Market Opportunities and Strategies
22.1. Global Medication Adherence Market In 2025 - Countries Offering Most New Opportunities
22.2. Global Medication Adherence Market In 2025 - Segments Offering Most New Opportunities
22.3. Global Medication Adherence Market In 2025 - Growth Strategies
22.3.1. Market Trend Based Strategies
22.3.2. Competitor Strategies
23. Medication Adherence Market, Conclusions and Recommendations
23.1. Conclusions
23.2. Recommendations
23.2.1. Product
23.2.2. Price
23.2.3. Place
23.2.4. Promotion
24. Appendix
24.1. Market Data Sources
24.2. Research Methodology
24.3. Abbreviations
24.4. Currencies
24.5. Research Inquiries
24.6. About the Publisher
24.7. Copyright and Disclaimer
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.
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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