Market InsightsMarket Research Future predicted that the global Medication Management system Market is set to reach the highest CAGR of 13.4% through the forecast period, 2018-2023.Medication management focuses on improving medication use for the patient's condition.
Several other factors, such as the emergence of funds in the healthcare sector and the need to reduce healthcare costs, are some of the drivers of the market.However, the high costs of software implementation and service maintenance can hinder the market growth during the forecast period.Regional OutlookThe United States has dominated the global drug management market.
This growth can be ascribed to the rise in the elderly population and the presence of the main market players in the region.Europe ranked second in 2017 due to the presence of developed economies such as the United Kingdom, Germany, France, and other countries in the region, which is an engine for market growth.The Asia Pacific region is likely to see the fastest growth in 2017.
Major PlayersThe leading players that are supporting the functioning of the global medication management market include General Electric Company, Siemens Ltd, Medical Information Technology, QuadraMed Affinity Corporation, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation, Omnicell, Inc., Carefusion Corporation, Epic Systems Corporation, and Optum Inc.Recent UpdatesOmnicell, Inc., a leading of medication management solutions for healthcare and pharmacy systems, has announced that Mercy, one of five US healthcare systems for Oklahoma, Arkansas, Missouri, and Kansas, will take over the management of medication in your service network through its Omnicell's automation and intelligence solutions.
Based on automation, data intelligence, and specialized services, the autonomous pharmacy will allow pharmacists, nurses, physicians, and pharmacist staff to focus on patient and physician satisfaction.
Administration software segment is further classified as Bar Code Drug Delivery Software (BCMA) and Electronic Drug Management Software (eMAR).