MEDICATION MANAGEMENT SYSTEM MARKET ANALYSIS

Regional Analysis

North America is expected to hold the dominant position in medication management system market due presence of healthcare IT infrastructure, high incidence, and prevalence of chronic disease and high per capita expenditure

North America and especially U.S. is expected to hold the dominant position in the medication management system market, owing to the high prevalence of chronic disease in the U.S. According to Centre for Disease Control and Prevention (CDC) review in 2017, seven out of ten death were from chronic disease in 2014. Also, in 2012, the U.S. had 117 million population with one or more chronic disease. Thus presence of population with chronic disease would need efficient medication management, which would propel growth of the medication management system market. The Agency for Healthcare Research and Quality reported that in 2015, there were 41.4 adverse drug events per 1000 population especially in therapies, which can be reduced by utilizing medication management system. Health infrastructure in the U.S. is also increasingly using IT based services to better manage patient pool. There is expected to be shortage of nurses and physicians in near future, according to study in 2017 by Association of American Medical Colleges, U.S. would have a shortage of between 40,800 and 104,900 physicians by 2030, which would create need to adopt medication management system.