Report Overview

The growth of the Medication Adherence market can be attributed to factors such as the rising prevalence of chronic diseases, increased demand for advanced medical adherence system, rapid growth in the geriatric population, strong economic growth in emerging economies, an increase in healthcare expenditure and increment in pharmaceutical usage. Other factors such as augmented demand for personalised healthcare technology and advancements in medicinal technology are expected to further propel the global Medication Adherence market over the forecast period 2022-2028.

Global Medication Adherence Market - Market Trends & Forecast Report 2028

The global medication adherence market was worth USD 2,668.1 million in 2021, and it is further projected to reach USD 5,562.3 million by 2028, growing at a CAGR of 11.1% during 2022-2028 (forecast period). This can be attributed to factors such as the rising prevalence of chronic diseases, increased demand for advanced medication adherence systems, rapid growth in the geriatric population, strong economic growth in emerging economies, an increase in healthcare expenditure, and an increment in pharmaceutical usage. Other factors such as augmented demand for personalized healthcare technology and advancements in medicinal technology are expected to further propel the global Medication Adherence market over the forecast period 2022-2028.

Medication Adherence Overview

The medication adherence system defines the degree to which a patient follows the medical advice of a medical service specialist. The framework is whether the medicine routine of the patient adjusts to an agreed medication routine recommended by the medical care supplier regarding measurement, timing, and recurrence. Medication adherence system and programming aid the clinical staff with patient admission to drug commendation. Medication adherence systems remind people to stick to a medication schedule advised by their doctor and monitor whether or not they take their prescriptions as prescribed. Medication adherence systems examine whether a patient's medication-intake behavior, in terms of timing, dosage, and frequency, follows an agreed-upon medication regimen advised by a healthcare professional. Medication adherence hardware and software assist medical workers in ensuring that patients take their medications as recommended, reducing the risk of illness progression and mortality, as well as lowering healthcare expenditures.

Growth Driver

Increasing Prevalence of Chronic Diseases

There has been a dramatic increase in the prevalence of chronic diseases, including asthma, COPD, diabetes, and cancer, owing to sedentary lifestyles, poor air quality, and growing pollution levels, among other factors. Chronic diseases such as heart disease, diabetes, and cancer are the leading causes of death and disability in the United States. According to the Centers for Disease Control and Prevention, six in ten adults in the United States suffer from a chronic disease, whereas four out of ten adults have two or more. Chronic diseases often require extended therapeutic intervention, including the usage of drugs. Any disruption in the medication intake leads to lethal consequences, thus demanding strict medication adherence. According to the CDC, nothing kills more Americans than heart disease and stroke. Over 877,500 Americans die due to heart disease or stroke each year, making up one-third of the total deaths. Cancer claims nearly 600,000 lives every year, making it the second leading cause of fatality every year. The cause of chronic diseases can include genetic factors, environmental factors, and even oxidative stress. Chronic diseases need clinical intervention in order to ameliorate them, which can be attained by increasing the involvement of patient-centric medication adherence programs, thus fuelling the growth of the medication adherence market.

Increasing Demand for Advanced Medication Adherence Systems

The medication adherence market is growing as a result of the surging demand for enhanced medication adherence solutions. The healthcare ecosystem is fragmented throughout the world, thus vesting the power of decision-making for the treatment and management of a patient into several hands. This fragmentation of healthcare information, along with the lack of coordination among healthcare providers and patients, has had a brutal influence on the cost and quality of healthcare (e.g., diagnosis, patient demographics, medical history, billing, and administrative data). As a result, improved medication management and adherence solutions are required.

Restraints

High Costs along with Low Awareness about Medical Adherence Devices

Increases in patient cost sharing above a certain level negatively influence drug adherence. Patients' capacity to obtain prescriptions at reduced and affordable rates is being harmed owing to a lack of drug insurance coverage, expensive medications, and formulary tiers. Furthermore, several misconceptions and myths prevail with reference to medication adherence. Thereby, these factors hamper the global medical adherence devices market penetration. Moreover, inadequate medical services awareness and inefficient healthcare infrastructure in underdeveloped regions are one of the major limiting factors of the market.

Impact of COVID-19 on the Global Medication Adherence Market

The sudden outbreak of the COVID-19 pandemic had a profound impact on the global medical adherence market. Major biotechnology, pharmaceutical companies, and governments worldwide have been working incessantly to address the challenges posed by the COVID-19 outbreak, from supporting the development of vaccines to preparing for medicine supply chain challenges. The research and development activities in the field of vaccines and molecules witnessed a dramatic surge. Moreover, several commonly used drugs, including hydroxychloroquine, experienced an intensive hike in demand for the management of COVID-19. The resulting conditions have presented huge opportunities for the manufacturers of COVID-19 management drugs, as numerous developed countries struggled with the shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are likely to experience momentous growth in the forthcoming years. This, in turn, is likely to have a substantial impact on the global medical adherence market.

Global Medication Adherence Market – By Type

The global Medication Adherence market has been divided into software-centric and hardware-centric. Software-centric segments dominated the medication adherence market in 2021. Software-centric medication adherence products refer to a collection of programs or applications that track, record, and notify patients or their caregivers about their medication compliance. Compared to hardware-centric items, these products are in higher demand owing to being less expensive and more easily accessible. Furthermore, with the constant emergence of new mobile applications over the years, it is expected that mobile-app-based medication adherence products will grow faster than other software-centric solutions throughout the forecast period. However, the hardware-centric segment is expected to register the highest CAGR over the forecast period.

Global Medication Adherence Market- Regional Insights                                  

In terms of the regional analysis, the global Medication Adherence solution market can be segmented into the Middle East & Africa, Latin America, Asia Pacific, Europe, and North America. Amidst the segmentation, North America accounted for the largest market share in 2021 owing to factors such as rising incidents of clinical trials, increment in medical care consumption, the geriatric populace, and the rising expenditure on medical care innovations by the prominent market players present in the region. For instance- Cardinal Health recently announced a novel technology-based software for enhancing drug adherence among patients. This platform, "Outcomes," combines numerous key business processes to distribute medications. Europe accounts for the second largest market share owing to frequent product launches, an enormous pool of skilled professionals, and advanced healthcare infrastructure.

 

Competitive Landscape

The global Medication Adherence market is characterized by many local, regional, and global vendors. The key players operating in the global Medication Adherence market are HealthEra, McKesson Corporation, Health Beacon, eLucid mHealth, Tinylogics, Johnson & Johnson Services Inc, Renesas, Qualcomm Incorporated, Adherence Solutions, Allscripts Healthcare Solutions, SMRxT Inc, Vaica, Health Window, Seamless MD, Merck KGaA, Datos Ltd, AstraZeneca, Helium Health, Cardinal Health, Catalia Health, and other prominent players. The players maintain their dominance in the market by investing in research and development activities, integrating the latest and advanced technologies into their products, and launching improved products for the customers.

 

Recent Developments

• January 2022: AdhereHealth, a technology leader in medication adherence insights and health outcomes, announced a novel partnership with Levrx Technology Inc, a digital health technology corporation that drives prescription competencies and maximizes savings. Their mutual solution allows health plans and self-insured employers to apprehend immediate pharmacy cost savings along with near-term medical cost discounts by incorporating Levrx's plan-specific and real-time prescription insights with the Adhere Platform's Medication Optimization solutions.

 

• September 2021: Curant Health and Humana Inc. teamed up to help in achieving better health outcomes for Humana members suffering from Chronic Obstructive Pulmonary Disease (COPD) and Chronic Heart Failure (CHF). The novel pilot program, aimed at refining medication adherence to help patients lead healthier lives and eventually help lessen health care costs, offers inclusive support for members suffering from complex health conditions and prescription medication needs.

 

Scope of Report:

     

Attribute	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Million
Market Coverage	United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa
Product/Service Segmentation	By type, by medication, and by region
Key Players	The key players operating in the global Medication Adherence market are HealthEra, McKesson Corporation, Health Beacon, eLucid mHealth, Tinylogics, Johnson & Johnson Services Inc, Renesas, Qualcomm Incorporated, Adherence Solutions, Allscripts Healthcare solutions, SMRxT Inc, Vaica, Health Window, Seamless MD, Merck KGaA, Datos Ltd, AstraZeneca, Helium Health, Cardinal Health, Catalia Health, and other prominent players.

 

By Type

• • • • Software Centric
      • Hardware Centric

By Medication

• • • • Cardiovascular
      • Central nervous systems
      • Diabetes
      • Oncology
      • Gastrointestinal
      • Musculoskeletal
      • Others

By Region

• • • • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Medication Adherence Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Medication Adherence Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Software Centric
         2. Hardware Centric
      2. By Medication
         1. Cardiovascular
         2. Central nervous systems
         3. Diabetes
         4. Oncology
         5. Gastrointestinal
         6. Musculoskeletal
         7. Others
      3. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Medication Adherence Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Medication
      3. By Country
         1. United States
         2. Canada
7. Europe Medication Adherence Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Medication
      3. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Medication Adherence Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Medication
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Medication Adherence Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Medication  
      3. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Medication Adherence Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Type
       2. By Medication 
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of Covid-19 on Global Medication Adherence Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. HealthEra
    2. McKesson Corporation
    3. Health Beacon
    4. eLucid mHealth
    5. Tinylogics
    6. Johnson & Johnson Services Inc
    7. Renesas
    8. Qualcomm Incorporated
    9. Adherence Solutions
    10. Allscripts Healthcare solutions
    11. SMRxT Inc
    12. Vaica
    13. Health Window
    14. Seamless MD
    15. Merck KGaA
    16. Datos Ltd
    17. AstraZeneca
    18. Helium Health
    19. Cardinal Health
    20. Catalia Health
14. Key Strategic Recommendations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List Of Figures

 

Figure 1: Global Medication Adherence Market Segmentation

Figure 2: Global Medication Adherence Industry Value Chain Analysis

Figure 3: Global Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 4: Global Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 5: Global Medication Adherence Market Share (%), By Medication, By Value, 2018-2028

Figure 6: Global Medication Adherence Market Share (%), By Region, By Value, 2018-2028

Figure 7: North America Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 8: North America Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 9: North America Medication Adherence Market Share (%), By Medication, By Value, 2018-2028

Figure 10: North America Medication Adherence Market Share (%), By Country, By Value, 2018-2028 

Figure 11: Europe Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 12: Europe Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 13: Europe Medication Adherence Market Share (%), By Medication, By Value, 2018-2028

Figure 14: Europe Medication Adherence Market Share (%), By Country, By Value, 2018-2028

Figure 15: The Asia-Pacific Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 16: The Asia-Pacific Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 17: The Asia-Pacific Medication Adherence Market Share (%), By Medication, By Value, 2018-2028  

Figure 18: The Asia-Pacific Medication Adherence Market Share (%), By Country, By Value, 2018-2028

Figure 19: Latin America Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 20: Latin America Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 21: Latin America Medication Adherence Market Share (%), By Medication, By Value, 2018-2028

Figure 22: Latin America Medication Adherence Market Share (%), By Country, By Value, 2018-2028

Figure 23: The Middle East & Africa Medication Adherence Market Size, By Value (USD Million), 2018-2028

Figure 24: The Middle East & Africa Medication Adherence Market Share (%), By Type, By Value, 2018-2028

Figure 25: The Middle East & Africa Medication Adherence Market Share

Figure 26: The Middle East & Africa Medication Adherence Market Share (%), By Country, By Value, 2018-2028

Figure 27: Global Medication Adherence Market Share Analysis, 2021

 

List Of Tables

 

Table 1: Global Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 2: Global Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028

Table 3: Global Medication Adherence Market Size. By Region, By Value (USD Million), 2018-2028

Table 4: North America Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 5: North America Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028

Table 6: North America Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028 

Table 7: Europe Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 8: Europe Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028

Table 9: Europe Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028

Table 10: The Asia-Pacific Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 11: The Asia-Pacific Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028

Table 12: The Asia-Pacific Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028

Table 13: Latin America Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 14: Latin America Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028

Table 15: Latin America Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028

Table 16: The Middle East & Africa Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028

Table 17: The Middle East & Africa Medication Adherence Market Size, By Medication , By Value (USD Million), 2018-2028

Table 18: The Middle East & Africa Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028 

Table 19:  List of Key Players and Their Offerings

Table 20:  Competitive Benchmarking, by Operating Parameters

Table 21        HealthEra Company Overview

Table 22        HealthEra Financial Overview

Table 23        McKesson Corporation Company Overview

Table 24        McKesson Corporation Financial Overview

Table 25        Health Beacon Company Overview

Table 26        Health Beacon Financial Overview

Table 27        eLucid mHealth Company Overview

Table 28        eLucid mHealth Financial Overview

Table 29        Tinylogics Company Overview

Table 30        Tinylogics Financial Overview

Table 31        Johnson & Johnson Services Inc Company Overview

Table 32        Johnson & Johnson Services Inc Financial Overview

Table 33        Renesas Company Overview

Table 34        Renesas Financial Overview

Table 35        Qualcomm Incorporated Company Overview

Table 36        Qualcomm Incorporated Financial Overview

Table 37        Adherence Solutions Company Overview

Table 38        Adherence Solutions Financial Overview

Table 39        Allscripts Healthcare solutions Company Overview

Table 40        Allscripts Healthcare solutions Financial Overview

Table 41        SMRxT Inc Company Overview

Table 42        SMRxT Inc Financial Overview

Table 43        Vaica Company Overview

Table 44        Vaica Financial Overview

Table 45        Health Window Company Overview

Table 46        Health Window Financial Overview

Table 47        Seamless MD Company Overview

Table 48        Seamless MD Financial Overview

Table 49        Merck KGaA Company Overview

Table 50        Merck KGaA Financial Overview

Table 51        Datos Ltd Company Overview

Table 52        Datos Ltd Financial Overview

Table 53        AstraZeneca Company Overview

Table 54        AstraZeneca Financial Overview

Table 55        Helium Health Company Overview

Table 56        Helium Health Financial Overview

Table 57        Cardinal Health Company Overview

Table 58        Cardinal Health Financial Overview

Table 59        Catalia Health Company Overview

Table 60        Catalia Health Financial Overview