Medication Management Market size is accounted for USD 5,389.8 Million in 2021 and is poised to grow at a significant CAGR of 16.6% over 2022 to 2028. The growing demand of mHealth technologies is driving the growth of the medication management market. Mobile health (mHealth) uses mobile technologies to assist healthcare professionals in providing efficient and adequate patient care. The growing burden of chronic diseases, rising geriatric population, supportive healthcare regulatory norms and increasing healthcare cost are increasing the acceptance of mHealth technologies. Additionally, the high penetration of mobile devices has fuelled the adoption of mHealth technologies. The rising number of prescriptions adds to pharmacists’ workload, and the growing number of hospitals investing in new software to improve healthcare process management and reduce medication errors will accelerate the use of automated workflow management systems. Furthermore, the significant increase in the number of prescriptions written around the world is predicted to increase the use of medication management software in healthcare facilities. In January 2018, In order to better oncology and critical care treatment, GE and Roche formed a partnership to build an integrated digital diagnostics platform. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Key Market Developments:
In February 2022, McKesson has received approval from The Centers for Medicare & Medicaid Services (CMS) to participate in the Merit-based Incentive Payment System (MIPS) as a Qualified Clinical Data Registry (QCDR).
In August 2021, GF healthcare collabarated with Amazon Web Services (AWS) to deliver AI and cloud based imaging solutions, integrated data, and clinical and operational insights to hospitals and providers,