The global medication adherence market. The value of the market is predicted to grow from $2,310.0 million in 2019 to $11,226.3 million by 2030.
The rising incidence of chronic diseases is fueling the demand for medication adherence solutions across the globe. This is because the treatment of various chronic diseases usually involves therapeutic intervention and procedures such as the consumption of drugs and any interruptions in the intake of these medications can cause fatal consequences. As per the Centers for Disease Control and Prevention (CDC), in the U.S., as many as 160,201 persons lost their lives because of chronic lower respiratory diseases in 2017.
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There are several causes of chronic diseases including various environmental factors, oxidative stress, and genetic factors. Chronic ailments require proper clinical intervention for their management and treatment. This is attained by adopting patient-centric medication adherence programs. The other major factor propelling the worldwide demand for medication adherence programs is the burgeoning requirement for advanced medication adherence devices around the world. The lack of proper coordination among patients and healthcare professionals severely affects the cost and quality of patient care.
Globally, the medication adherence market will demonstrate the fastest growth in Asia-Pacific (APAC) in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This is ascribed to the rising implementation of favorable government initiatives regarding the adoption of medication adherence programs by healthcare centers in the region. For example, the National Heart Foundation in Australia has initiated the development of various comprehensive resources that provide exhaustive information regarding medication adherence management.
Thus, it can be said with complete confidence that the demand for medication adherence programs will skyrocket all over the world in the coming years, mainly because of the increasing incidence of chronic diseases and the growing usage of advanced medication adherence systems in healthcare facilities around the world.
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