Medication Adherence Market, By Type (Hardware centric and Software centric), By Medication (Diabetes, Cardiovascular, Oncology, Central Nervous System, Gastrointestine and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Medication adherence refers to whether patients take their drugs as prescribed (e.g., twice daily) and whether they continue to take a medication after it has been prescribed. The “active, voluntary, and collaborative involvement of the patient in a mutually acceptable course of conduct to achieve a therapeutic result” has been defined as adherence. This concept suggests that the patient has a choice and that the treatment goals and medical regimen are agreed upon by both the patient and the physician. Because of emerging evidence that nonadherence is common and linked to negative outcomes and greater healthcare costs, doctors, healthcare systems, and other stakeholders (e.g., payers) are becoming increasingly concerned about medication adherence. Medication adherence hardware and software assist medical workers in ensuring that patients take their medications as recommended, reducing the risk of illness progression and mortality, as well as lowering healthcare expenditures. The Global Medication Adherence Market accounted for US$ 2829.17 Million 2020 and is estimated to be US$ 9597.62 million by 2030 and is anticipated to register a CAGR of 13.1%.

                                                      

Growth in business operations by emerging and small sized players

The medication adherence market is predicted to develop due to rising demand for personalized healthcare technologies throughout the forecast period. Before deciding on treatment strategies and medications, personalized health care takes into account a patient's genetic and biological profile. Wearable gadgets and DNA sequencing are two methods used in personalized health care technology that help doctors diagnose diseases sooner and prescribe treatments to lessen disease impact. It is becoming increasingly important as patients and healthcare providers abandon the one-size-fits-all approach to common medical disorders. GSK, Teva Pharmaceuticals, and AstraZeneca are among the major pharmaceutical corporations engaging in customized medicine research and development. People would invest in medication adherence systems as demand for individualized healthcare rises as illness management improves, propelling the market in the forecast period.

                                                     

Restraining Factors

During the projection period, privacy concerns connected with medication adherence systems are projected to impede market growth. Medication adherence systems keep track of how often patients take their meds. Patients' personal medical records are accessible to these platforms. Patients are becoming increasingly concerned about their privacy being violated. Attackers could send phoney reminders or manipulate patients' medicine intake if the security of smart apps is breached. Patients may be hesitant to use medication adherence systems due to security concerns, limiting the market's growth.

                                         

The global Medication Adherence market is segmented based on type, medication and region.

On the basis of Type, the global Medication Adherence market is segmented Hardware centric and Software centric. Based on Medication, the target market is segmented into Diabetes, Cardiovascular, Oncology, Central Nervous System, Gastrointestine and Others.

Regional Insights:

                                             

On region the global Medication Adherence market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the medication adherence market in the upcoming forecast era. This is mainly driven by the rise in research and development (R&D) spending, increasing aging population, growing healthcare expenditure, and increasing prevalence of chronic diseases. The region has seen a large increase in its elderly population, which has had a huge positive impact on market growth in the area.

Report Scope:

Attribute	Details
Base year for estimation	2020
Forecast period	2020 – 2030
Market representation	Revenue in USD Million & CAGR from 2020 – 2030
Market Segmentation	By Type- Hardware centric and Software centric By Medication–Diabetes, Cardiovascular, Oncology, Central Nervous System, Gastrointestine and Others.
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Medication Adherence market report based on type, medication and region.

                                             

Global Medication Adherence Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

Recenet Development:

• In December 2022, Custom Health and L.A. Care Health Plan has launched Medication Adherence Pilot Program for improving health outcomes. Custom Health has developed a system to ensure medications are doing what they should, which relays in real time, medication taking behavior of individual patients to their pharmacy. This program will able to benefit from Custom Health ecosystem which includes in-home drug dispensing device & remote pharmacist led support for patients. This program will help in improving health outcomes & provides better care for L.A. Care members at home.
• In November 2017, Israeli treatment adherence company Vaica has launched new smart medication storage device. A new in-home device is used to help patients who are stick to their treatments. The Capsuled is a unique patient adherence product which is targeted specifically for pharmaceutical industries. The Capsuled device stores medications and includes, informational materials, reminders, & other features which are designed to better enable patients for daily medication routines.

The key players operating in the global Medication Adherence market includes Qualcomm Incorporated, SMRxT Inc., Koninklijke Philips N.V., Cardinal Health Inc., DrFirst .com Inc., Adhere Tech Inc., Johnson & Johnson Services Inc., Omnicell Inc., McKesson Corporation and Others. Because of the increasing disposable income of the population, APAC offers attractive potential for medication adherence market participants, allowing people to access effective treatment alternatives even at a high cost. Collaborations between manufacturers are projected to boost the market in the APAC region in the future, with the goal of establishing various programmes to encourage innovation in the systems and software used for medication adherence.

• Qualcomm Incorporated*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• SMRxT Inc.
• Koninklijke Philips N.V
• Cardinal Health Inc.
• DrFirst .com Inc.
• Adhere Tech Inc.
• Johnson & Johnson Services Inc.
• Omnicell Inc.
• McKesson Corporation
• Others

“*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Purview
   • Executive Summary
   • Key Findings—Global Outlook for Medication Adherence Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By Type
     • Market Snippet, By Medication
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Global Medication Adherence Market, By Type, 2020 – 2030, (US$ Mn)
   • Hardware centric
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
     • Y-o-Y Growth Analysis (%), 2020 – 2030
     • Segment Trends
   • Software centric
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
6. Global Medication Adherence Market, By Medication, 2020 – 2030, (US$ Mn)
   • Diabetes
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
     • Y-o-Y Growth Analysis (%), 2020 – 2030
     • Segment Trends
   • Cardiovascular
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
   • Oncology
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
   • Central Nervous System
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
   • Gastrointestine
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
   • Others
     • Overview
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
7. Global Medication Adherence Market, By Region, 2020 – 2030, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
     • Y-o-Y Growth Analysis (%), 2020 – 2030
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Medication, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Medication, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Medication, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
       • China
       • India
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Medication, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East & Africa
     • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Medication, 2020 – 2030
     • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
       • GCC
       • Israel
       • South Africa
       • Rest of Middle East
8. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
9. Company Profiles
   • Qualcomm Incorporated*
     • • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
       • Business Strategies

• SMRxT Inc.
• Koninklijke Philips N.V
• Cardinal Health Inc.
• DrFirst .com Inc.
• Adhere Tech Inc.
• Johnson & Johnson Services Inc.
• Omnicell Inc.
• McKesson Corporation
• Others

The Last Word

• • Future Impact
  • About Us
  • Contact