Know about Medication

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Medication is also known as medicine, a pharmaceutical drug, or only a drug. It is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an integral part of the medical field and relies on the science of pharmacology for the constant advancement of pharmaceutical products for appropriate management.

The medication market has shown a significant evolution over the forecast period. The growth in the aging population drives the rise of the medication market, the need for reducing healthcare costs and better healthcare management are expected to drive market growth. Besides, the mounting occurrence of chronic diseases is also driving the development of the market; for instance, according to WHO, globally, approximately 17.7 million people died from cardiovascular diseases in 2015. Various government initiatives, such as the allocation of healthcare Information Technology (IT) funds for one, have raised the adoption rate of medication management systems globally. Moreover, along with new channels of accessibility in emerging markets in retail outlets, supermarkets are also contributing to the medication market's growth in the emerging economies. However, high software implementation and service maintenance costs hinder this market's development to a certain extent.

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