The latest report on Pharmacy Management System Market by Infinium Global Research gives complete coverage of the pharmacy management system market by solution (pharmacy inventory management, pharmacy data management, pharmacy document management system, pharmacy benefits management system), deployment type (on-premise, and on-demand), end-user (inpatient pharmacy) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of pharmacy management system such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global pharmacy management system market is projected to grow at a CAGR of 11% over the forecast period of 2019-2025.
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The IT sector has evolved a lot from the time of its conception. Numerous applications of IT is been developed by market players. One such application is in the healthcare sector. Various solutions are developed to facilitate healthcare organizations and professionals. Pharmacy management systems are one of the solutions developed to assist the pharmacists. Using pharmacy management solutions, a pharmacist can run their business more efficiently. The pharmacy management systems help the pharmacist in several day-to-day business operations including inventory management, data management, document management, benefits management, and others.
Rise in the Number of Prescriptions is One of the Major Driving Factors for the Growth of the Global Pharmacy Management System Market
The rise in the number of prescriptions is one of the major driving factors for the growth of the global pharmacy management system market. In 2018 a total number of around 5.8 billion prescriptions were filled in America alone. The prescriptions are been filled at a rate of 17.6 prescriptions per person, which is growing at 2.7% from 2017. This growth of prescriptions is exerting pressure on the pharmacies to maintain the supply. The pharmacy management systems provide solutions to reduce this pressure.
Moreover, the increase in regulatory compliance in the pharmacy sector is providing a boost to the global pharmacy management system market. The pharmacy management systems assist pharmacist in carrying out their normal business operations more efficiently. Through implementing such solutions, the pharmacists can easily track their business and maintain their records digitally.
However, the risks associated with data breach and hacking of the devices are expected to be the major restraining factor for the growth of the pharmacy management system market. On the other hand, the development of innovative and sophisticated pharmacy management solutions is observed to be growing at a rapid pace. This development of innovative solutions is anticipated to offer lucrative business opportunities to the vendors supplying pharmacy management system.
North American Region Generated the Highest Revenue in the Global Pharmacy Management System Market
In terms of geography, the North American region generated the highest revenue in the global pharmacy management system market. The largest market share of the North American attributed to the strong presence of the pharmacy management system vendors in the region. North America has an advanced communication infrastructure along with a higher adoption of developed technologies and higher expenditure on healthcare. This, in turn, augments the demand for pharmacy management systems in North America.
Europe is the second-largest market for the pharmacy management system following North America. While the Asia Pacific is anticipated to grow with the fastest rate over the forecast period. The presence of a large patient pool, growing demand for better healthcare infrastructure and growing investment in the healthcare IT sector are some of the factors contributing to the growth of the pharmacy management system in the Asia Pacific.
Table of Content
Chapter – 1 Preface
Chapter – 2 Executive Summary
Chapter – 3 Global Pharmacy Management System Market Overview
Chapter – 4 Pharmacy Management System Market Macro Indicator Analysis
Chapter – 5 Global Pharmacy Management System Market by Solution
- Pharmacy Inventory Management System
- Pharmacy Data Management System
- Pharmacy Document Management System
- Pharmacy Benefits Management System
Chapter – 6 Global Pharmacy Management System Market by Deployment Type
Chapter – 7 Global Pharmacy Management System Market by End-user
- Inpatient Pharmacy
- Outpatient Pharmacy
Chapter – 8 Global Pharmacy Management System Market by Region 2019-2025
- North America
Chapter – 9 Company Profiles and Competitive Landscape
- Cerner Corporation
- McKesson Corporation
- Allscripts Healthcare Solutions, Inc.
- Epicor Software Corporation
- General Electric Company
- ScriptPro LLC
- Clanwilliam Group Ltd.
- MedHOK, Inc
- Boston Scientific Corporation
Chapter – 10 Appendix
- Primary Research Findings and Questionnaire
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