Global Medication Adherence Market Opportunities And Strategies For Major Players In The Medication Adherence Market 2021-2030
20 Aug, 2021
The medication adherence market consists of sales of medication adherence hardware systems and software applications by entities (organizations, sole traders and partnerships) that produce medication adherence hardware systems and software solutions that are used by patients to take prescribed medicines.
Global Medication Adherence Market Size And Drivers:
The global medication adherence market reached a value of nearly $2,438.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 10.0% since 2015. The market is expected to decline from $2,529.6 million in 2019 to $2,438.2 million in 2020 at a rate of -3.6%. The market is then expected to recover and grow at a CAGR of 11.4% from 2021 and reach $4,181.3 million in 2025. It is expected reach $6,497.0 million in 2030, at a CAGR of 9.2%. Increasing prevalence of chronic diseases such as asthma, COPD, diabetes, and cancer is expected to contribute to the growth of the medication adherence market during the forecast period.
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Trends In The Global Medication Adherence Market
Companies in medication adherence are increasingly adopting gamification modes especially for children to increase their medicine management by engaging them with fun games. Gamification has potential for gathering relevant patient data that can help in medication adherence and explaining the importance of medical adherence education by rewarding users who complete mandated tasks in the form of loyalty points.
Global Medication Adherence Market Segments:
The global medication adherence market is further segmented based on type, medication, application and geography.
By Type: Hardware Centric, Software Centric
By Medication: Cardiovascular, Central Nervous System, Diabetes, Oncology, Respiratory, Gastrointestinal, Rheumatology, Others
By Application: Hospital, Retail Pharmacies, Long-Term Care Facilities, Mail-Order Pharmacies
By Geography: The global medication adherence market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global medication adherence market, accounting for 39.9% of the total in 2020.
Read More On The Report For The Global Medication Adherence Market At:https://www.thebusinessresearchcompany.com/report/medication-adherence-market
Medication Adherence Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides medication adherence market overviews, analyzes and forecasts market size and growth for the global medication adherence market, medication adherence market share, medication adherence market players, medication adherence market segments and geographies, medication adherence market’s leading competitors’ revenues, profiles and market shares. The medication adherence market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.