North America Medication Management System Market By Software (Clinical Decision Support System Solutions, Computerized Physician Order Entry (CPOE), Inventory Management Solutions, Electronic Medication Administration Record, and Other Software), By Mode of Delivery (Cloud-based, Web-based and On-premise), By End-user (Hospitals, Pharmacies and Other end-users), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The North America Medication Management System Market would witness market growth of 18.5% CAGR during the forecast period (2020-2026). With the help of the medication management system, an organization can optimize individual drug therapy. This ensures improvement in therapeutic outcomes for patients.
The chances of medication errors as well as the overall healthcare cost can be reduced by adopting this technology & the technology could have major impact for both patients and healthcare providers. Some factors such as rising aging population & massive government investments are expected to be instrumental for the market growth.
Moreover, hospitals are investing more in services & solutions in order to improve the quality of treatment which is contributing to the market growth of the medication management system. As per the report by the International Diabetes Federation, it is estimated that the global expenditures for diabetes treatment will increase from USD 760 - 845 billion by the end of 2045. Diabetes is a chronic disease and it has life-threatening effects on the cardiovascular, renal as well as nervous system if left untreated. This disease is one of the leading causes of death across the globe.
Factors like rising investment by hospitals in order to enhance workflow, technological advancement in medical field, and awareness about decreasing medication errors have contributed to market growth. Moreover, the market growth is expected to propel due to the high adoption of IT in the healthcare industry across the globe.
Based on Software, the market is segmented into Clinical Decision Support System Solutions, Computerized Physician Order Entry (CPOE), Inventory Management Solutions, Electronic Medication Administration Record, and Other Software. Based on Mode of Delivery, the market is segmented into Cloud-based, Web-based and On-premise. Based on End-user, the market is segmented into Hospitals, Pharmacies and Other end-users. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The USA market dominated the North America Computerized Physician Order Entry (CPOE) Market by Country in 2019, growing at a CAGR of 17.5 % during the forecast period. The Canada market is experiencing a CAGR of 18.2% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 21.3% during (2020 - 2026).
The Cloud-based market dominated the Canada Medication Management System Market by Mode of Delivery in 2019, thereby, achieving a market value of $264.3 Million by 2026. The Web-based market is expected to witness a CAGR of 17.2% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AllScripts Healthcare Solutions, Inc. (A-S Medication Solutions), Siemens AG, Becton, Dickinson and Company, Cerner Corporation, General Electric (GE) Co. (GE Healthcare), McKesson Corporation, UnitedHealth Group, Inc. (Optum, Inc.), Omnicell, Inc., Kuka AG (Talyst, LLC), and ARxIUM, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Clinical Decision Support System Solutions
- Computerized Physician Order Entry (CPOE)
- Inventory Management Solutions
- Electronic Medication Administration Record
- Other Software
By Mode of Delivery
- Other end-users
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- AllScripts Healthcare Solutions, Inc. (A-S Medication Solutions)
- Siemens AG
- Becton, Dickinson and Company
- Cerner Corporation
- General Electric (GE) Co. (GE Healthcare)
- McKesson Corporation
- UnitedHealth Group, Inc. (Optum, Inc.)
- Omnicell, Inc.
- Kuka AG (Talyst, LLC)
- ARxIUM, Inc.
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