Medication Management Market 2019 by Top Key Players are Cerner Corporation, General Electric Company, McKesson Corporation, QUALCOMM Incorporated, Siemens AG, and Epic Systems Corporation

The global medication management market valued at $1,076.5 million in 2014, and it is expected to grow at a CAGR of 26.1% during forecast period. 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. In addition, the growing need for remote patient monitoring services, increasing demand of mHealth technologies, and increasing support from government organizations are also driving the growth of the global medication management market.

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Medication management systems enable the accomplishment of prescribing, supply and administration of medicines electronically. These systems regulate the functions of entire hospital medication procedures, including medicine prescribing by doctors, dispensing of medication by pharmacists, and administration of medicines by nurses. In addition, these systems reduce medication errors through improved prescription legibility, and appropriate dosage calculations.

Factors such as privacy and security issues; high capital expenditure and maintenance requirement; and inadequate healthcare infrastructure in developing economies are inhibiting the growth of the global market. The tradition of online shopping for the medication management aids and increasing popularity of medication management systems in home healthcare are the key trends observed in the global medication management market.

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Some of the key companies operating in the global medication management market include Cerner Corporation, General Electric Company, McKesson Corporation, QUALCOMM Incorporated, Allscripts Healthcare Solutions Inc., Becton Dickinson and Company, Siemens AG, and Epic Systems Corporation.

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