Global Medication Adherence Market Opportunities and Strategies to 2030: COVID-19 Growth and Change - ResearchAndMarkets.com

The "Medication Adherence Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.

Global Medication Adherence Market Opportunities and Strategies to 2030: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global medication adherence market.

This report describes and evaluates the global medication adherence market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.

The global medication adherence market reached a value of nearly $2,529.6 million in 2019, having increased at a compound annual growth rate (CAGR) of 13.4% since 2015. The market is expected to decline from $2,529.6 million in 2019 to $2,482.3 million in 2020 at a rate of -1.9%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 12.5% from 2021 ad reach $3,579.7 million in 2023. It is expected t reach $4,381.0 million in 2025 and $7,277.4 million in 2030.

The medication adherence market is segmented by type into hardware-centric, and software-centric. 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, at a CAGR of 10.5% during 2019-2023.

The medication adherence market is also segmented by medication into cardiovascular, central nervous system, diabetes, oncology, gastrointestinal, musculoskeletal, and others. The others market was the largest segment of the medication adherence market segmented by medication, accounting for 37.8% of the total in 2019. Going forward, the others segment is expected to be the fastest-growing segment in the medication adherence market, at a CAGR of 11.4% during 2019-2023.

The global medication adherence market is concentrated, with few large players with significant market share and presence large of small players in the market. The top ten competitors in the market made up to 60% of the total market in 2019. Major players in the market include Omnicell Inc., Koninklijke Philips N.V., Cardinal Health, McKesson Corporation, and Allscripts Healthcare Solutions, Inc.

The top opportunities in the medication adherence market segmented by type will arise in the software-centric market segment, which will gain $540.8 million of global annual sales by 2023. The top opportunities in the medication adherence market segmented by medication will arise in the others segment, which will gain $514.6 million of global annual sales by 2023. The medication adherence market size will gain the most in the USA at $366.2 million.

Market-trend-based strategies for the medication adherence market include developing smart pill containers with innovative features, developing medical adherence apps with innovative features, developing wearable sensors, developing ingestible biosensors, focusing on partnerships and collaborations, and focusing on developing innovative products. Player-adopted strategies in the medication adherence market include strengthening business through the launch of new solutions and expanding through strategic partnerships.

Amidst the unprecedented outbreak of coronavirus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. This has decreased short-term potential growth opportunities for the medication adherence industry. Healthcare systems in low-and middle-income countries (LMICs) are especially challenged because the pandemic will further crumble the already weak health systems in these countries. These health systems are working with several constraints such as limited financial resources, inadequate health personnel, and unavailability of medications, which is negatively impacting the country's medication adherence market.

To take advantage of the opportunities, the publisher recommends the medication adherence companies to focus on investing in the production of smart pill container, focus on investing on the development of ingestible biosensors, offer skimmed pricing, focus on developed and emerging markets, leveraging e-commerce to maximize reach and revenues, leveraging social media platforms and targeting local pharmacies to spread awareness.

Key Topics Covered:

1. Medication Adherence Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction

6.1.1. Segmentation By Geography

6.1.2. Segmentation By Type

6.1.3. Segmentation By Medication

7. Medication Adherence Market Characteristics

7.1. Market Definition

7.2. Segmentation By Type

7.2.1. Hardware Centric

7.2.2. Software Centric

7.3. Segmentation By Medication

7.3.1. Cardiovascular

7.3.2. Central Nervous System

7.3.3. Diabetes

7.3.4. Oncology

7.3.5. Musculoskeletal

7.3.6. Gastrointestinal

7.3.7. Orthopedic

7.3.8. Others

8. Medication Adherence Market Trends And Strategies

8.1. Rising Demand For Smart Pill Container

8.2. Increasing Use Of Smartphone Medical Adherence Apps

8.3. Strategic Partnerships And Business Expansions

8.4. Use Of Wearable Sensors

8.5. Ingestible Biosensors for Medication Adherence

8.6. New Product Launches

9. Impact Of COVID-19 On Medication Adherence Market

9.1. COVID-19 Impact And Solutions

9.2. Psychological Issues Promote Decreasing Adherence To Medication Routines

9.3. Severe Impact On Low- And Middle- Income Countries

9.4. Impact On Geriatric Population

10. Global Medication Adherence Market Size And Growth

10.1. Market Size

10.2. Historic Market Growth, 2015 - 2019, Value ($ Million)

10.3. Forecast Market Growth, 2019 - 2023, 2025F, 2030F Value ($ Million)

11. Global Medication Adherence Market Segmentation

11.1. Global Medication Adherence Market, Segmentation By Type, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)

11.1.1. Software Centric

11.1.2. Hardware Centric

11.2. Global Medication Adherence Market, Segmentation By Medication, Historic And Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)

11.2.1. Diabetes

11.2.2. Central Nervous System

11.2.3. Cardiovascular

11.2.4. Musculoskeletal

11.2.5. Oncology

11.2.6. Gastrointestinal

11.2.7. Others

12. Medication Adherence Market, Regional And Country Analysis

12.1. Global Medication Adherence Market, By Region, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)

12.2. Global Medication Adherence Market, By Country, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/2lsdp2

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