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A10470 | Pages: 310 | Charts: 67 | Tables: 171 |
The global medication management market size was valued at $3.0 billion in 2023, and is projected to reach $8.2 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033. The demand for medication management is increasing owing to the growing awareness regarding the importance of reducing side effects and preventing adverse drug interactions. As patients increasingly take multiple prescriptions, there is a heightened need for vigilant monitoring to ensure medication safety and effectiveness.
Medication management is a comprehensive strategy aimed at optimizing the safe and effective use of medications by patients and caregivers within primary care settings. At its core, medication management involves engaging patients and their families to create a complete and accurate medication list through methods such as the brown bag approach. This foundational step is crucial for facilitating medication reconciliation and addressing potential issues related to medication management.
The primary goal of medication management is to ensure that patients have a clear understanding of their prescribed medications, including dosages, frequency, and potential interactions. By actively involving patients and caregivers in the medication management process, healthcare providers can identify any behaviors or factors that may compromise medication adherence or increase the risk of adverse drug events. Through collaboration between healthcare providers, patients, and caregivers, medication management endeavors to empower individuals to take an active role in managing their medications and maintaining their overall health and well-being. These factors are anticipated to boost the medication management market size in the coming years.
Key Market Segments
Key Market Players