UK Medication Adherence Market Market Report 2023 to 2030

UK Medication Adherence Market Analysis

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UK Medication Adherence Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 - 2030. The market for Medication Adherence is expanding as a result of increasing demand for mHealth technologies and increasing prevalence of chronic diseases in both developed and developing nations. This demand is fueling the development of better software and methods for medication adherence. Some of the key players in the global medication adherence Market include Koninklijke Philips N.V., Cardinal Health Inc., Omnicell Inc., McKesson Corporation, Johnson & Johnson Services, Inc., Proteus Digital Health, Inc., AdhereTech Inc., Qualcomm Incorporated, Adherence Solutions LLC and SMRxT Inc.

ID: IN10GBHS074 CATEGORY: Healthcare Services GEOGRAPHY: UK AUTHOR: Aneri Parekh

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UK Medication Adherence Market Executive Summary

UK Medication Adherence Market is valued at around $111.8 Bn in 2022 and is projected to reach $229.4 Bn by 2030, exhibiting a CAGR of 9.4% during the forecast period 2023-2030.

Medication adherence refers to the processes that determine whether patients take their drugs as directed and whether they continue to take a medication after it has been given. Medication adherence hardware and software aid healthcare professionals in ensuring that patients take their prescribed medications in order to lower the risk of disease progression, fatalities, and increased healthcare expenses. It includes sales of instruments such as smart pill bottles, smart caps, smart medical watches, wearable sensors, and others.

Technological advancements have contributed to the growth of the global market for medication adherence in recent years. Digital tools like mobile applications, telehealth services, and different devices have improved efficiency and outcome. It has given a boost to the medication adherence global market.

There are many global players in the medication adherence market but Koninklijke Philips N.V., Cardinal Health Inc., Omnicell Inc., McKesson Corporation, Johnson & Johnson Services, Inc., Proteus Digital Health, Inc., AdhereTech Inc., Qualcomm Incorporated, Adherence Solutions LLC and SMRxT Inc. are some of the major players in the market.

It is expected that factors like the increased popularity of mHealth adherence services will accelerate market expansion. The benefits of mHealth adherence programs have been the subject of numerous research investigations. For example, a research paper published in PubMed in March 2022 noted that while many chronic conditions require long-term pharmacological therapy, finding efficient means to increase drug adherence to support positive health outcomes remains to be a challenge. Systolic and diastolic blood pressure are two health outcomes that can be improved with mHealth intervention in addition to medication adherence.

The demand for medication adherence solutions is expected to increase due to the growing need for solutions to address poor adherence to prescribed medication in the healthcare sector. The market still has difficulties with regard to obtaining regulatory permission, lack of awareness about medication adherence as well as data privacy and security concerns.

Market Dynamics

Drivers of UK Medication Adherence Market:

Increasing Prevalence of Chronic Diseases: The prevalence of chronic diseases like cardiovascular diseases, respiratory diseases, diabetes, and musculoskeletal diseases is increasing with every passing year globally. It has increased the demand for the medication adherence market as it requires long-term medical treatment and patient engagement is needed for improved patient outcomes.

Technological Advancements: The development of new technology and devices like smart pill bottles, medication reminder apps, electronic monitoring systems, and wearable devices has boosted the growth of the market for medication adherence. It has improved medication adherence and monitoring and support. These technologies offer a wide range of services like real-time monitoring, reminders, and alerts to patients and healthcare providers.

Restraints of UK Medication Adherence Market:

High-Cost and Accessibility: The cost of medication adherence technology and services is higher for people with lower disposable income and it can be a barrier to the expansion of the market. The ability of patients to access and use medication adherence strategies can also be impacted by the accessibility of healthcare facilities and services.

Data Safety and Privacy: As cybercrime has increased over the past few years, issues about the security of a patient's medical history and other personal information have increased. Some of the factors limiting market expansion are malware, phishing, Man in the Middle attacks, Trojans, and other emerging cyber threats. These factors are poising the growth of the medication adherence market.

Notable Deals in Medication Adherence Market:

In August 2022, an automated patient engagement function was added to Athenahealth to support medication adherence. DrFirst's RxInform automated patient messaging is now part of the athenaOne EHR and practice management suite, assisting patients in adhering to recommended treatment regimens.

In January 2022, CareDxl acquired the Transplant Pharmacy increasing the scope of its medication adherence services. For patients at various transplant centers around the United States, The Transplant Pharmacy offers specialized transplant pharmacy services.

Key players

EMIS Group PLC Helius Health Medopad Pilloxa Inhealthcare MedAdvisor International Pty Ltd Healthera Ltd. FDB (First Databank, Inc.) MedMinder Systems, Inc. LloydsPharmacy

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For UK Medication Adherence Market

By Product:

Software Centric
- Mobile Apps
- Others
Hardware Centric
- Devices
  - Automated dispensing systems
  - Smart Pills Bottles
  - Electronic Trays
  - Others
- Packaging
  - Multi-Dose
  - Single Dose

By Medication:

Cardiovascular
Central Nervous System (CNS)
Diabetes
Oncology
Respiratory
Gastrointestinal
Rheumatology
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.