NEW YORK, July 06, 2017 (GLOBE NEWSWIRE) -- According to new market research report titled “Global Medication Adherence Market Size, Share, Development, Growth and Demand Forecast to 2022 – Industry Insights by Product (Hardware-Centric Offering, and Software-Only Offering), by Class or Medication (Cardiovascular, Diabetes, Oncology, CNS, Respiratory, Rheumatology, Gastrointestinal, and Others)” published by P&S Market Research, the global medication adherence market is expected to grow with 17.5% CAGR during 2016 – 2022.
Growing demand for advanced medication adherence systems, and growing geriatric population. The increasing demand of mobile health (mHealth) technologies and increasing demand of personalized healthcare technologies will also drive the growth of the global medication adherence market. Among the various product offerings, the software-only offering segment is expected to witness the fastest growth during the forecast period. The global medication adherence market is growing at a significant rate.
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Medication non-adherence is one of the most crucial problems in the healthcare industry, posing a strong financial impact on the global population. For healthcare employers, insurers, and patients, medication non-adherence significantly increases healthcare costs of disease-related complications. For pharmaceutical companies, pharmacy benefit managers, and pharmacies, medication non-adherence significantly grinds down the profit due to non-adhering of medications by the patients. The growing interest of pharmaceutical companies and healthcare providers on medication adherence poses a greater influence on promoting better healthcare outcomes.
The restraints associated with the growth of the global medication adherence market include privacy and security issues in the EHR and e-prescribing based medication adherence; and inadequate healthcare infrastructure in developing economies.
Geographically, North America dominated the global market of medication adherence market in 2015; whereas the Asian market is expected to witness the fastest growth at a during the forecast period.
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Some of the key companies operating in the global medication adherence market include Koninklijke Philips N.V., Qualcomm Incorporated, Proteus Digital Health Inc., AdhereTech Inc., Omnicell, Inc., Adherence Solutions LLC, SMRxT, McKesson Corporation, and DrFirst.
Medication Management Market
The global medication management market accounted $1,076.5 million revenue in 2014, and it is expected to grow at a CAGR of 26.1% during 2015-2020. Among the various software types, the CDSS segment is expected to witness the fastest growth during the forecast period, at a CAGR of 30.8%. The global medication management market is growing at a significant rate, due to growing demand for advanced healthcare information system and growing investments by HIT players.
Sleeping Aids Market
The global sleeping aids market accounted for $61,798.0 million in 2015, and it is expected to grow at a CAGR of 6.3% during 2016-2022. The Insomnia sleep disorder segment dominated the global sleeping aids market in 2015 with 30.1% share; whereas, among the various products, the mattress and pillow segment accounted for the highest share at 42.3% in the global sleeping aids market in the same year. The growth of the sleeping aids market is escalating with high growth rate, due to growing aging population.
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