The global Medical Carts (PV) market size is projected to reach USD 12.25 billion by 2027, exhibiting a CAGR of 12.3% during the forecast period. Initiation of awareness campaigns to disperse information among patients regarding safe medication practices will stimulate market growth, finds Fortune Business Insights™ in its report, titled “Medical Carts (PV) Market Size, Share & Industry Analysis, By Type (Service and Software), By Deployment (In-house and Outsource), By End User (Hospitals, Pharmaceutical Companies, and Others), and Regional Forecast, 2020-2027”. Prior to its commercial release, a drug has to undergo multiple trial phases and in each phase, its efficacy and safety are rigorously tested. Enhanced access to information has made people more aware about the safety of medicines, especially those given over-the-counter (OTC). This awareness is further bolstered by the initiatives taken at the local, national, and international level. For instance, the World Health Organization (WHO) launched the Global Patient Safety Challenge a few years ago with the title ‘Medication Without Harm’ to spread awareness among people about safe medication practices and overall medicinal safety standards. Similarly, the Uppsala Monitoring Center in Sweden started a campaign in 2019 focusing on polypharmacy and safe consumption of medication among the geriatric population. Such programs and campaigns will play a key role in boosting the growth of this market in the coming years.
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Strategic Introduction of Advanced PV Tools to Intensify Competition
Development and launch of advanced PV software and service offerings by key market players is likely to play a key role in perpetuating the PV market growth in the forthcoming years. Besides this strategy, companies are also collaborating with each other and ramping up their R&D investment to expand their regional and global presence.
List of Key Players Covered in the Medical Carts Market Report Include:
Pharmaceutical Product Development, LLC (U. S)
Parexel International Corporation (U.S)
ICON plc (Ireland)
Accenture plc (Ireland)
Covance Inc. (U.S)
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