Global Medication Therapy Management Market is expected to increase over $150 million by 2026, at a CAGR of 10.3%

Global Medication Therapy Management Market is expected to increase over $150 million by 2026, at a CAGR of 10.3%

Medication Therapy Management

Medication Therapy Management, is basically called medication use audit, it is an assistance given regularly by drug specialists that plans to further develop outcomes by serving individuals for better understanding of their health conditions and the meds used to oversee them. This contains giving instruction on the disease and medications used to treat the disease, confirming that medicines are taken properly, lessening waste because of unused meds, searching for any side effects, and giving proper information on how to deal with any side effects.

The process of Medication Therapy can be separated into five stages:

Medication therapy review

Individual medicine record

Medication related activity plan

Intervention and referral

Documentation and follow-up

The Medication Therapy Management is characterized as a group of administrations which optimize remedial results for patients. This is a quickly arising term in the medical care area that assists patients with getting the most advantage from their medication. This shows restraint driven and comprehensive approach which works on the nature of care pharmacists provide to patients along with increasing their general income age and ROI.

The Medication Therapy Management is segment in various sector:

By Type

Software

Services

Medication Therapy Reviews

Pharmacotherapy Consults

Disease Management Support

Anticoagulation Management

Medication Safety Surveillance

By End-user

Pharmacies

Healthcare Payers

By Region

North America- United States, Canada, and Mexico

Latin America- Brazil, and Argentina

Europe- Russia, Germany, United Kingdom, Italy, and France

Asia Pacific- India, China, Japan, Australia, and South Korea

Middle East & Africa- Turkey, UAE, and Saudi Arabia

Some market key players of Medication Therapy Management are:

Cerner Corporation

AdhereHealth LLC

Agadia Systems Inc.

First Databank Inc.

General Electric Company

IQWare Solutions

Market overview

The Global Medication Therapy Management Market is expected to increase over $150 million by 2026, at a CAGR of 10.3%.

The increment in the number of prescriptions across the globe, and the increase in investment by hospitals for workflow management, are anticipated to help the worldwide medication therapy management market development during the forecast period. Moreover, the expansion in government reforms and strategies fuelling the reconciliation of IT in the medical services industry which expected to drive the global Medication Therapy Management Market growth.

Also, the expansion in development of electronic health records of patients have empowered better patient understanding, medicine adherence, medication reconciliation, and infectious control. The medication therapy management utilizes a cooperative methodology with the coordination of modernized EHR to address the difficulties in each period of the medicine cycle by benefiting patient data to specialists.

Economic growth

The Global Medication Therapy Management Market is $78.51 million in 2018, and $101.6 million in 2020, is expected to increase over $150 million by 2026, at a Compound Annual Growth Rate (CAGR) pace of 10.3% for the following five years.

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