Market Size of Global Medication Adherence
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medication Adherence Market Analysis
The medication adherence market is projected to register a CAGR of 15.0% during the forecast period.
The COVID-19 pandemic emphasized the need for reformation in the healthcare system for the accessibility of medical care to patients in rural areas. Decentralization of the health system to the primary care level and utilization of teleophthalmology should be considered by healthcare planners in the future. Various research studies have provided insight into the application of medicine adherence during the pandemic. For instance, in November 2021, a research study published in ScienceDirect stated that medical and medication-related problems had arisen because of restrictions to reduce the spread of COVID-19, along with the fear of exposure to COVID-19. Understanding the consequences of the COVID-19 pandemic in people with chronic diseases was crucial to improving health care and outpatient pharmacy accessibility and resources for this population during this and future pandemics. Similarly, another research study published in January 2021 in PubMed stated that the contribution of community pharmacists in managing chronic conditions and promoting medication adherence was the key to easing the disease burden on health systems. As chronic diseases continue to spread and the demand for medication adherence rises, the market is expected to witness growth.
Factors such as the rising adoption of mHealth adherence services are expected to increase the market growth. Various research studies have provided insight into the advantages of mHealth adherence services. For instance, in March 2022, a research study published in PubMed stated that the treatment of many chronic illnesses involves long-term pharmaceutical therapy, but it was an ongoing challenge to find effective ways to improve medication adherence to promote good health outcomes. mHealth intervention can improve medication adherence and health outcomes, including systolic and diastolic blood pressure.
Moreover, in August 2021, Mount Sinai Health System started using a first-of-its-kind mobile application to expedite and enhance care for patients with heart attacks. The app, developed by Mount Sinai's interventional cardiologists, emergency department physicians, and the nursing team, improves communication among doctors, nurses, and the clinical command center so that patients can get more rapid care to improve outcomes. Additionally, In January 2021, CuePath Innovation Ltd signed a service agreement with the Care Company, an Ontario-based at-home care provider for seniors and chronic health patients. The agreement makes CuePath's Medication Adherence (MAAS) a standard service offering to The Care Company's growing client population. Such advancements and their adoptions are likely to increase market growth in the upcoming future.
Amidst expected growth, privacy and security concerns related to these services are expected to hinder the market growth.
Medication Adherence Industry Segmentation
As per the scope, medication adherence is the extent to which the patient follows the doctor's instructions about the timing, dosage, and frequency of prescribed medicines. The medication adherence market is segmented by Type (Hardware Centric, and Software Centric), Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for the above segments.
| By Type | |
| Hardware Centric | |
| Software Centric |
| By Medication | |
| Cardiovascular | |
| Central Nervous System | |
| Diabetes | |
| Oncology | |
| Gastrointestinal | |
| Musculoskeletal | |
| Other Medications |
| Geography | ||||||||
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Global Medication Adherence Size Summary
The medication adherence market is poised for significant expansion, driven by the increasing prevalence of chronic diseases and the rising demand for effective medication management solutions. The COVID-19 pandemic highlighted the critical need for healthcare system reforms, particularly in enhancing access to care in rural areas and leveraging telehealth solutions. Research has underscored the importance of community pharmacists and mHealth interventions in promoting medication adherence, which is essential for managing chronic conditions and alleviating the burden on healthcare systems. Innovations such as mobile applications and electronic pill bottles are set to propel market growth, despite challenges related to privacy and security concerns.
The software segment within the medication adherence market is expected to experience robust growth, fueled by strategic partnerships and new product launches. North America is anticipated to maintain a substantial market share, supported by the adoption of advanced software solutions and mHealth technologies, alongside increased healthcare spending. The market landscape is characterized by a mix of established players and emerging companies, with significant contributions from firms like AdhereTech, McKesson Corporation, and Omnicell, Inc. These developments, coupled with the ongoing expansion of services and technologies aimed at improving medication adherence, are likely to drive the market forward in the coming years.
Global Medication Adherence Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Demand for mHealth Technologies
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1.2.2 Increasing Prevalence of Chronic Diseases
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1.3 Market Restraints
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1.3.1 Privacy and Security Concerns for Patient Data
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Hardware Centric
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2.1.2 Software Centric
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2.2 By Medication
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2.2.1 Cardiovascular
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2.2.2 Central Nervous System
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2.2.3 Diabetes
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2.2.4 Oncology
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2.2.5 Gastrointestinal
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2.2.6 Musculoskeletal
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2.2.7 Other Medications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Medication Adherence Market Size FAQs
What is the current Global Medication Adherence Market size?
The Global Medication Adherence Market is projected to register a CAGR of 15% during the forecast period (2024-2029)
Who are the key players in Global Medication Adherence Market?
AdhereTech, McKesson Corporation, Omnicell, Inc., DrFirst and Medminder Systems, Inc. are the major companies operating in the Global Medication Adherence Market.
