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Tuesday, December 6, 2022

Asia-Pacific To Witness Sharp Surge in Usage of Medication Adherence Products in Future

The treatment and management of chronic diseases usually include long-term usage of pharmacotherapy. Although this process and the medication are extremely effective in treating numerous chronic ailments, their full benefits are generally not realized, on account of the fact that nearly 50% of the patients undergoing treatment do not take their drugs and other medication properly, or as prescribed by the medical practitioner.

There are various factors responsible for poor medication adherence, including those that are directly related to patients, such as their lack of full involvement in the disease treatment and management decision-making process and inadequate health literacy among them. The factors related to physicians include the communication barriers that exist between them and patients, prescription of complex medicine, and lack of proper communication regarding the adverse effects of poor medication adherence.

Apart from patients and healthcare practitioners, healthcare systems are also responsible for poor medication adherence among patients. This is mainly because of the limitations of these facilities regarding visiting times and access to patient care. Moreover, the lack of proper health information technology in hospitals and other medical centers is contributing to patients displaying poor adherence to the medication schedule. Because of these reasons, poor medication adherence is a grave concern for healthcare workers across the world.

This can massively affect the ability of the medicines to treat diseases, which, in turn, can lead to more and, in some cases, severe complications and a lower quality of life. As a result, the demand for medication adherence products and programs is rapidly growing all over the globe, which would subsequently cause an expansion in the global medication adherence market from $2,310.0 million to $11,226.3 million from 2019 to 2030. Furthermore, the market is expected to advance at a CAGR of 15.5% between 2020 and 2030.

Rising Incidence of Chronic Diseases Fueling Demand for Medication Adherence

Chronic ailments usually require long-term therapy and medication. Any interruption in the intake of medication may cause fatal consequences, owing to which proper medication adherence is extremely necessary for the treatment of chronic diseases. As per the Centers for Disease Control and Prevention (CDC), in the U.S., as many as 160,201 people lost their lives in 2017 because of chronic lower respiratory diseases.

There are numerous factors responsible for chronic diseases, including various environmental factors, oxidative stress, and genetic predisposition. These diseases generally need proper, long-term clinical intervention, which is achieved by adopting highly patient-centric medication adherence procedures.

Ballooning Popularity of Personalized Healthcare also Boosting Requirement for Medication Adherence

The demand for personalized healthcare has witnessed a sharp surge in recent years, primarily because of the soaring geriatric population, rising prevalence of chronic diseases, and rapid advancements in patient care procedures across the world. The usage of electronic health records (EHRs), consisting of data and information provided by various medication adherence systems, assists healthcare professionals in developing models of patients’ health profiles, which, in turn, helps them provide personalized treatment and patient care. Because of this, the rising popularity of personalized medical treatment is pushing up the demand for medication adherence systems.

Medication Adherence Product Usage Has Been Historically High for Cardiovascular Disease Treatment

Medication adherence products are widely used by those suffering from cardiovascular, oncologic, gastrointestinal, respiratory, rheumatic, and central nervous system (CNS) diseases and diabetes. Out of these, the utilization of these solutions has been historically the highest for the treatment of cardiovascular diseases throughout the globe. And, it will keep rising in this field in the forthcoming years, primarily because of the increasing incidence of cardiovascular diseases due to the sedentary and unhealthy lifestyle of people around the world.

Cardiac conditions, such as myocardial infarction and heart failure, require long-term medication for reducing mortality and morbidity. Moreover, the high incidence of non-adherence to proper medication programs by heart patients is fueling the usage of adherence products to ensure that proper medication schedules are followed.

North America Witnessed Highest Usage of Medication Adherence Products in Past

Globally, the utilization of medication adherence products was observed to be the highest in North America in the past few years. This was because of the high research and development (R&D) investments in the regional countries in the years gone by, the high occurrence rate of chronic diseases, huge healthcare spending, and the presence of a large geriatric population in the region. As per the CDC, in the U.S. in 2019, 7 out of the 10 biggest causes of death were chronic diseases. Furthermore, out of the several chronic diseases, cancer and heart diseases were together responsible for almost 46% of all deaths in the country in 2019.

Asia-Pacific Expected To Rapidly Adopt Medication Adherence Solutions in Future

In the coming years, the Asia-Pacific (APAC) region is predicted to be lucrative for the manufacturers and sellers of medication adherence products. This would be a result of the growing accessibility of various treatments for people, even those being provided at high prices. This is attributed to the surging disposable income of the people living in the regional countries, as well as the efforts being made by governments to provide affordable healthcare to all.

In addition to this, the manufacturers of medication adherence products plying their trade-in APAC are increasingly announcing collaborations aimed at launching various programs, for encouraging technological advancements in the software and systems used for ensuring medication adherence. This will further boost the sales of medication adherence solutions in the region in the future.

Hence, it can be safely said that the demand for medication adherence systems and programs would surge all over the world in the coming years, primarily because of the rampant non-adherence to medications and treatment procedures by patients and the growing prevalence of chronic diseases.

HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

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