Global Medication Adherence Market Analysis


  • Type: Service area
  • Published : February 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 304

  • Format: PPT, PDF

Global Medication Adherence Market – Segmented by Type (Hardware Centric, Software Centric), by Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, Others), and by Region, Opportunities and Strategies – Global Forecast to 2028


Report Overview

The global medication adherence market size stood at around USD 2.53 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period

Increasing prevalence of chronic diseases, increasing adoption of smartphones, increasing demand for personalized healthcare technologies, and advances in medicine will drive the growth of the market. Factors that could hinder the growth of the medication adherence market in the future include privacy concerns, and home healthcare services

Market Drivers

The increasing requirement for medication adherence solutions to overcome poor adherence to prescribed medication in the healthcare industry is projected to boost the demand for medication adherence solutions. The major factors responsible for the growth of the market are the rising demand for advanced medication adherence systems, increasing prevalence of chronic diseases, rising geriatric population, increasing demand for Health technologies, and surging demand for personalized healthcare

1. Global Medication Adherence Market Overview………………………………
A. Market Size
2. Market Growth Drivers………………………………………………………………….
A. Growing Demand for Advanced Medication Adherence Systems
B. Increasing Prevalence of Chronic Diseases
C. Rising Geriatric Population
3. Market Dynamics………………………………………………………………………….
A. Increasing Use of Medication Adherence Apps
B. Rising Awareness for Medication Adherence Through Patient Saving Programs
C. Growing Popularity of Medication Adherence Systems And Software
4. Medication Adherence Market Segmentation…………………………………
A. By Product
I. Software Centric Medication Adherence Market, by Type
II. Hardware Centric Medication Adherence Market, by Devices
III. Hardware Centric Medication Adherence Market, by Packaging
B. By Medication
I. Cardiovascular
III. Diabetes
IV. Oncology
V. Respiratory
VI. Rheumatology
VII. Others
C. Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia-Pacific Market Analysis
IV. Middle-East and Africa Market Analysis
V. South America Market Analysis
5. Medication Adherence Products Market Share………………………………
A. Market Analysis, Insights and Forecast to 2028 by revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Competitive Benchmarking of Key Players
7. Key Company Profiles…………………………………………………………………..
A. Omnicell Inc. Company overview, Product & Services, Strategies & Financials
B. Koninklijke Philips Company overview, Product & Services, Strategies & Financials
C. Cardinal Health Company, Product & Services, Strategies & Financials
8. Key Industry Trends………………………………………………………………
A. Increasing demand for mHealth technologies
B. Expanding demand for personalised healthcare
9. Factors Driving Future Growth………………………………………………………
A. New Trends and Development in Medication Adherence Products & Services
B. Future Opportunities
10. Conclusion

Market Segmentation

By Type:

The software centric market was the largest segment of the medication adherence market segmented by type, accounting for 59.1% of the total in 2019. Going forward, the hardware centric segment is expected to be the fastest growing segment in the medication adherence market

Software-centric medication adherence products are the set of programs or applications that track, record, and intimate the patient and the respective caregiver of his or her medication compliance. These products are more in demand because they have a lower cost and are more easily accessible as compared to hardware-centric products. Furthermore, with the continuous emergence of new mobile applications over the years, it is projected that mobile-app-based medication adherence products will witness the faster growth during the forecast period, as compared to other software-centric solutions

By Medication:

Among the various medication applications, medication adherence products were most commonly utilized for cardiovascular diseases in 2019. This category is also expected to witness the fastest growth in the medication adherence market during the forecast period, due to the rising prevalence of cardiovascular disorders, on account of the unhealthy lifestyle of the population. Diseases and conditions such as heart failure and myocardial infarction need long-term medication to reduce morbidity and mortality. The high prevalence of medication non-adherence by heart patients is resulting in a significant utilization of adherence products to ensure proper medication schedule compliance

By Region:

North America was the largest region in the global medication adherence market, accounting for 39.7% of the total in 2019. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the medication adherence market will be Eastern Europe, and Asia Pacific, where growth will be at CAGRs of 12.1% and 10.9% respectively. These will be followed by the Middle East, and South America, where the markets are expected to grow at CAGRs of 8.8% and 8.63% respectively.

Key Major Players

Many new players are emerging in the dermatological therapeutics market, as a result of a number of growth opportunities. Forthcoming patent expiries of major drugs are leading to increased competition, and it is further driving the market studied, especially in the generic sector. The overall dermatological diagnostics and therapeutics industry is expected to witness tremendous growth, with several generic players controlling significant market share in the developing regions. Some of the companies which are currently dominating the market are Amgen Inc., Bausch Health Companies Inc., Novartis International AG, AbbVie Inc. and Allergan PLC

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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