Medication Adherence: Systems, Technologies and Global Markets

Report Scope: Medication adherence systems include hardware-based systems (e. g. , smart pill bottles, smart caps, automated pill dispensers, electronic trays, smart medical watches, smart medical alarms, wearable sensors and other packaging systems) and software-based internet applications (e.

New York, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medication Adherence: Systems, Technologies and Global Markets" - https://www.reportlinker.com/p05152399/?utm_source=GNW
g., cloud-based databases, health programs, patient web portals, mobile medication management applications, etc.) designed to improve medication adherence associated with various chronic diseases. This report is an analytical business tool whose primary purpose is to provide a thorough evaluation of the global market for medication adherence. The study covers the following -
- Detailed description of medication adherence systems and technologies including software applications (apps).
- Demographics and cost burden of targeted chronic diseases.
- Market characterization, unmet need, market size and segmentation.
- Market drivers and restraints.
- Detailed market projections through 2025.
- Competition and market shares.
- Key marketed products along with information about their regulatory status.
- Strategic landscape (merger and acquisitions).
- Regulatory structure.
- Pricing and reimbursement.
- Observations and conclusions on the future of medication adherence systems and technologies.
- Profiles of market participants and associations.

Report Includes:
- 20 data tables and 16 additional tables
- An overview of the global markets and technologies for medication adherence
- Analyses of global market trends, with data from 2019, 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Description of disease and economic burden, and cost and morbidity in chronic diseases such as cardiovascular diseases (CVD), musculoskeletal disorders, gastrointestinal/digestive diseases, and cancer
- Details about adherence measurement, medication adherence and non-economic factors and methods to improve medication adherence
- Market share analysis of the medication adherence markets based on product/services, disease and region
- Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market size, and market forecast of the medication adherence systems markets
- Discussion on advantages of software and mobile applications, and effectiveness of smartphone adherence apps on the general population
- Information on key marketed and pipeline products, challenges to improving medication adherence with technology and future developments of the industry
- Insights into regulation and reimbursement scenarios including, U.S. FDA technical considerations, FDA policy for low-risk and general wellness devices and regulatory systems for medication adherence systems and applications
- A look at the key industry acquisitions, strategic alliances and market share analysis of the leading suppliers of the industry
- Comprehensive profiles of major players in the industry, including ActualMeds Corp., etectRx, Health Net Inc., MedaCheck, Omnicell Inc., and Philips Healthcare

Summary:
The global market for medication adherence (hardware-based automation and adherence systems and software-based applications) was worth $REDACTED billion in 2019.The market is expected to reach over $REDACTED billion by 2025, increasing at a CAGR of REDACTED% from 2020 through 2025.

This steep increase is fueled by aburgeoning demand for advanced medication adherence systems and a growing number of people worldwide with chronic diseases.

Reasons for Doing This Study
Medication non adherence remains a common healthcare problem across developed and developing nations.It is one of the major public health concerns because it adversely impacts patient outcomes, increases healthcare utilization and associated costs.

According to the CDC, about REDACTED% to REDACTED% of medication prescriptions are never filled, and about half of all prescribed medications are not taken as prescribed. More than REDACTED% of patients leave a physician’s office with a prescription in hand, but as manyas half of all patients do not take their medications as prescribed. Poor adherence causes approximately REDACTED% to REDACTED% of medication-related hospitalizations and
accounts for more than $REDACTED billion in annual healthcare costs in the U.S. alone. Patients are considered adherent when they take their prescribed medications at the doses and times recommended by their healthcare provider.

Pharmaceutical, medical device and healthcare providers are turning to medication adherence systems and software application to deal with the current challenges associated with medication nonadherence.Dispensing cabinets and dispensers automate the management and dispensing of medications while smart pill bottles help in dispensing the right medication at the right time, in the right quantity with the right instructions.

Increasing acceptance of medication therapy management systems, smart pill bottles, smart caps, automated pill dispensers, electronic trays, smart medical watches, smart medical alarms, wearable sensors, specialized packaging systems and software-based internet applications (cloud-based databases, web portals and mobile applications) are helping patients, payers and providers with the management, dispensing and monitoring of medications.

Overall, medication adherence systems offer improved drug adherence, real-time data monitoring, logical calculations and network communication.Medication adherence systems can be categorized into two major segments: hardware-based medication adherence systems and software-based internet applications (apps).

The growth of the medication adherence systems market is being driven mainly by factors such as the growing elderly population, the rising prevalence of chronic diseases, the widespread adoption of smartphones and other technological advancements within the life sciences industry.
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