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Medication Adherence Market Analysis

The medication adherence market is projected to register a CAGR of 15.0% during the forecast period.

The COVID-19 pandemic emphasized the need for reformation in the healthcare system for the accessibility of medical care to patients in rural areas. Decentralization of the health system to the primary care level and utilization of teleophthalmology should be considered by healthcare planners in the future. Various research studies have provided insight into the application of medicine adherence during the pandemic. For instance, in November 2021, a research study published in ScienceDirect stated that medical and medication-related problems had arisen because of restrictions to reduce the spread of COVID-19, along with the fear of exposure to COVID-19. Understanding the consequences of the COVID-19 pandemic in people with chronic diseases was crucial to improving health care and outpatient pharmacy accessibility and resources for this population during this and future pandemics. Similarly, another research study published in January 2021 in PubMed stated that the contribution of community pharmacists in managing chronic conditions and promoting medication adherence was the key to easing the disease burden on health systems. As chronic diseases continue to spread and the demand for medication adherence rises, the market is expected to witness growth.

Factors such as the rising adoption of mHealth adherence services are expected to increase the market growth. Various research studies have provided insight into the advantages of mHealth adherence services. For instance, in March 2022, a research study published in PubMed stated that the treatment of many chronic illnesses involves long-term pharmaceutical therapy, but it was an ongoing challenge to find effective ways to improve medication adherence to promote good health outcomes. mHealth intervention can improve medication adherence and health outcomes, including systolic and diastolic blood pressure.

Moreover, in August 2021, Mount Sinai Health System started using a first-of-its-kind mobile application to expedite and enhance care for patients with heart attacks. The app, developed by Mount Sinai's interventional cardiologists, emergency department physicians, and the nursing team, improves communication among doctors, nurses, and the clinical command center so that patients can get more rapid care to improve outcomes. Additionally, In January 2021, CuePath Innovation Ltd signed a service agreement with the Care Company, an Ontario-based at-home care provider for seniors and chronic health patients. The agreement makes CuePath's Medication Adherence (MAAS) a standard service offering to The Care Company's growing client population. Such advancements and their adoptions are likely to increase market growth in the upcoming future.

Amidst expected growth, privacy and security concerns related to these services are expected to hinder the market growth.

Medication Adherence Industry Segmentation

As per the scope, medication adherence is the extent to which the patient follows the doctor's instructions about the timing, dosage, and frequency of prescribed medicines. The medication adherence market is segmented by Type (Hardware Centric, and Software Centric), Medication (Cardiovascular, Central Nervous System, Diabetes, Oncology, Gastrointestinal, Musculoskeletal, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for the above segments.