Friday, December 8, 2023

Medical Adherence Market Evolution: Precision in Patient Management



 Market Overview:

Medical adherence means taking prescribed dosage of medicines/ treatments as per the recommended schedule and instructions. It ensures patients follow doctor's instructions to gain full benefits of treatment. Non-adherence negatively impacts health outcomes, causes loss of life and wastes healthcare resources. Proper adherence improves outcomes and reduces healthcare costs.

The global Medical Adherence Market is estimated to be valued at US$ 3.68 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growing geriatric population prone to chronic diseases drives the market. According to WHO, ageing population is growing rapidly and number of older persons is expected to reach 2 billion by 2050. Older adults often have multiple health issues needing complex drug regimens making adherence difficult. Home health care segment fosters adherence for elderly through reminder tools and services. Digital interventions also aid adherence using mobile apps, smart devices and telehealth monitoring. They increase accessibility and convenience of healthcare. However, poor health literacy remains a barrier. Adherence solutions focus on simplifying treatment plans and engagement through IT solutions for better health outcomes.
Segment Analysis
The global medical adherence market is segmented into type, application, and end user. Based on type, the medical adherence market is divided into adherence packs, caps, blister cards, and strip packs. Among these, adherence packs segment holds the largest market share owing to ease in handling and enhanced adherence for complex drug combinations.

Key Takeaways
The global medical adherence market is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing chronic diseases burden and focus on cost efficiency in healthcare.

Regional analysis
North America holds the major share in the medical adherence market due to availability of advanced healthcare IT infrastructure and awareness regarding importance of adherence to prescribed medications. Asia Pacific region is projected to grow at the fastest pace during the forecast period owing to rising healthcare expenditure and developing healthcare infrastructure in major countries like China and India.

Key players
Key players operating in the medical adherence market are AdhereTech, McKesson Corporation, Medminder Systems, Inc., Omnicell, Inc., and DrFirst, among others. AdhereTech provides adherence packaging and digital health solutions. McKesson Corporation offers pharmacy automation systems and supply chain management solutions to improve medication adherence.

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