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Analysis of the North American Medication Management Market

  • October 2012
  • -
  • Frost & Sullivan
  • -
  • 63 pages

The continuing convergence of healthcare and information communication technologies makes the telehealth industry one of the most confusing yet transformative spaces across the globe. One of the key needs in telehealth concerns the management and adherence to medication regimens. While basic pill boxes are not new, recent advancements in technology have allowed more effective medication management systems emerge creating this new exciting market opportunity. Due to these needs, medication management systems are quickly growing; consequently, this is becoming one of the most rapidly evolving markets in healthcare.

Executive Summary

•Medication management remains an emerging, high-interest market in the telehealth industry due to the very high need for medication adherence. •Revenue for the medication management market is low but is expected to have a very high growth rate over the forecast period. •While revenue may never match other telehealth markets, medication monitoring will be a key component of future telehealth systems. •While stand-alone medication management systems will continue to be sold and leased, medication management will become more of a value addition to larger product lines or as a component of comprehensive telehealth systems. •The market has begun to form tiers based on the value offering and price for different offerings, ranging from more expensive stand-alone dispensing units to consumer focused, cost-effective medication organization and reminder systems. •Medication management can also take on many more forms than the scope of the products of this study and involve many different stakeholders concerning value. •The last major evolution in healthcare was heavily driven by the simple fact that significant road systems were put into place in the early 1900s. •We find ourselves in a second evolution in healthcare, and again, it is all about new roads. However, the roads are digital this time around. •Now, preventative (rather than reactive) healthcare issues, such as obesity, are some of the most prevalent issues we face. •Fortunately, new digital roads are allowing healthcare providers and patients to connect in new and exciting ways, thus making significant strides in addressing the current preventative healthcare crisis. •This evolution in healthcare is what we call telehealth. It is changing the way we do healthcare, and video telehealth is at its heart.

Table Of Contents

Analysis of the North American Medication Management Market
TABLE OF CONTENTS

Executive Summary 4
Market Overview 10
Total Medication Management Market -
•External Challenges: Drivers and Restraints 18
•Medication Management and Telehealth: A Telehealth MatrixTM Discussion 30
•Forecasts and Trends 39
•Demand Analysis 50
•Competitive Analysis 52
The Last Word (Conclusions and Implications) 56
Appendix 60

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