Global Medication Management Market to Witness 18.6% CAGR during 2023 – 2030, Attaining Market Size of USD 9.2 Billion by 2030

Published Date: Mar, 2024

The global medication management market is expected to grow at a CAGR of 18.6% during the forecast period with its market size predicted to reach USD 9.2 billion by 2030. The rapid increase in the aging population, technological advancement, increasing demand for reducing healthcare costs, and increasing need for remote patient monitoring are the major factors leading to the high demand for medication management, globally.

The increasing prevalence of chronic diseases is another factor leading to the growth of the medication management industry. For instance, according to WHO globally, approximately 17.7 million people died from cardiovascular diseases in 2015. In addition, according to WHO, globally the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014.

Global Medication Management Market Segmentation and Key Players

Segment / Key Players

Categorization

System

Clinical Decision Support Systems, Inventory Management Systems, Computerized Physician Order Entry Systems, Assurance Systems, Administration Software and Automated Dispensing Systems

Service

Adverse Drug Effects Surveillance, Medication Analytics, and Point-of-Care Verification

Mode of Delivery

Web-Based, Cloud-Based and On Premise

End User

Pharmacies, Hospitals and Other

Key Players

Allscripts Healthcare Solutions, Inc., Cerner Corporation, CareFusion Corporation, Siemens Healthcare, GE Healthcare, Optum Inc., McKesson Corporation, Epiq System Corporation, Qualcomm Incorporated, Quadramed Corporation, Omnicell, Inc., and Meditech

Browse Market Insight and In-Depth TOC on "Global Medication Management Market – Analysis and Forecast (2025-2030)"

Different types of medication management systems include clinical decision support systems, computerized physician order entry systems, inventory management systems, assurance systems, administration software, and automated dispensing systems. Among all these systems, computerized physician order entry systems account for the largest revenue in the market. The major factors leading to the high demand for computerized physician order entry systems are the need for remote patient monitoring services and the increasing demand for advanced healthcare systems. In addition, the clinical decision support system is expected to grow at the highest CAGR during the forecast period in the market, due to mounting chronic diseases and expanding the geriatric population.

Based on services, the market is categorized into adverse drug effects (Ade) surveillance services, medication analytics services, and point-of-care verification services. Among all services, medication analytics services hold the largest share in the market due to the need for better healthcare outcomes and to reduce the cost of healthcare. The demand for Ade surveillance services is also anticipated to increase at a significant rate during the forecast period.

There are three modes of delivery in the medication management market, web-based solutions, cloud-based solutions, and on-premise solutions. Of all modes of delivery, web-based solutions accounted for the largest share in the medication management market. Low maintenance and IT infrastructure requirements are some of the factors responsible for the growth of the web-based solution segment. The cloud-based solutions are expected to grow at the fastest rate during the forecast period.

Based on end users, the market is segmented into pharmacies, hospitals, and other healthcare institutions. The mounting occurrence of chronic diseases is the factor growing the demand for medication management in hospitals. Among all end users, hospitals are the largest end-user segment in the medication management market.

North America is the largest medication management market primarily during the high healthcare cost and increasing prevalence of chronic diseases. For instance, according to the Centers for Disease Control and Prevention (CDC), in the U.S. approximately 610,000 people die every year due to heart disease. Asia-Pacific is predicted to observe the fastest growth in the market, as the region comprises a large population base. In addition, expanding the geriatric population, increasing the prevalence of chronic diseases, and refining healthcare infrastructure are also creating a positive impact on the medication management market growth in the region.

Key players in the medication management market are catering to the demand for these devices by investing in technologically advanced products in their product portfolios across the globe. Allscripts Healthcare Solutions, Inc., Cerner Corporation, CareFusion Corporation, Siemens Healthcare, GE Healthcare, Optum Inc., McKesson Corporation, Epiq System Corporation, Qualcomm Incorporated, Quadramed Corporation, Omnicell, Inc., and Meditech are the key players offering medication management.

Global Medication Management Market Coverage

System Insight and Forecast, 2025-2030

  • Clinical Decision Support Systems
  • Inventory Management Systems
  • Computerized Physician Order Entry Systems
  • Assurance Systems
  • Administration Software
  • Automated Dispensing Systems

Service Method Insight and Forecast, 2025-2030

  • Adverse Drug Effects Surveillance
  • Medication Analytics
  • Point-of-Care Verification

Mode of Delivery Insight and Forecast, 2025-2030

  • Web-Based
  • Cloud-Based
  • On-Premise

End User Insight and Forecast 2025-2030

  • Pharmacies
  • Hospitals
  • Others

Geographical Segmentation

Medication Management Market by Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Rest of the World

  • Brazil
  • South Africa
  • Saudi Arabia
  • U.A.E.
  • Other Countries