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Global Pharmacy Management System Market to reach USD 39 billion by 2027.
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Global Pharmacy Management System Market is valued approximately at USD 16 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.8% over the forecast period 2020-2027.
In the present scenario, a series of technological developments have been reshaped in pharma industry. Drug retailers (pharmacies) are putting more efforts into innovative approaches, such as online order placement, next-day delivery, and so on. Although the digitalization of prescription drugs could be valuable given its urge to millennials who are in need to prefer online pharmacy services.
These developments demonstrate a shift is evolving from conventional mail order and retail visits to customer’s doorway supply, which has encouraged the demand & utility for pharmacy management system.
More often, these systems also provide an effective way and approach to regulate inventory and focuses on reducing the inventory cost through automated usage-based reordering. More often, these systems are primarily implemented for complex automation of monotonous processes associated with medication use, document management, billing, patient care, relationship with suppliers, prescription processing within pharmacies.
Therefore, these factors will also contribute towards the higher market growth all over the world. Apart from this, the increased incidences of counterfeit have led to rise in implementation of pharmacy management system, as it helps to identify the risk related to quality-related events (QRE) in professional practice, and to use that information to eventually prevent errors.
According to the Pharmaceutical Security Institute, around 5,081 cases of counterfeit were occurred in pharmaceuticals worldwide in 2019, signifying an increase from 3,002 counterfeit incidents in 2015. Therefore, this factor has contributed towards the higher market growth during the forecast period. However, the changing regulatory landscape in developing and underdeveloped countries, coupled with the system incompatibilities in pharmacies are the few major factors hampering the market growth over the forecast period of 2020-2027.
The regional analysis of the global Pharmacy Management System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in trend of automation and digitalization in pharmaceutical industry, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in government support for digital pharmacies and the growing demand for healthcare products in developing countries, such as China and India, would create lucrative growth prospects for the Pharmacy Management System market across the Asia-Pacific region.
Major market player included in this report are:
Becton Dickinson and Co.
GE Healthcare Inc.
Allscripts Healthcare Solution Inc.
Epicor Software Corporation
ACG Infotech Ltd.
Clanwilliam Health Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Small- and Medium-sized Pharmacies
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Pharmacy Management System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Pharmacy Management System Market, by Region, 2018-2027 (USD Billion)
1.2.2. Pharmacy Management System Market, by Component, 2018-2027 (USD Billion)
1.2.3. Pharmacy Management System Market, by Deployment, 2018-2027 (USD Billion)
1.2.4. Pharmacy Management System Market, by Size, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Pharmacy Management System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Pharmacy Management System Market Dynamics
3.1. Pharmacy Management System Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Pharmacy Management System Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Pharmacy Management System Market, by Component
Complete report titled Global Pharmacy Management System Market Size study, by Component (Solution, Services), by Deployment (Cloud-based, On-premises), by Size (Small- and Medium-sized Pharmacies, Large Pharmacy) and Regional Forecasts 2020-2027 of 200 pages and published in February, 2021 is now available at https://www.marketstudyreport.com/reports/global-pharmacy-management-system-market-size-research
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