Pharmacy Management System Market Research Report, Size, Share, Growth, Trends and Industry Analysis By Solution Type (Pharmacy Inventory Management System, Pharmacy Data Management System, Pharmacy Compounding Software System, Pharmacy Benefits Management System, Others), Component (Software, Hardware, Services), Deployment Mode (Web-Based, On-Premise) – Forecast to 2027
Pharmacy Management System Market Overview
Pharmacy Management System Market held a value of USD 37.23 bllion in 2018, at a CAGR of 11.55% during the review period of 2019 to 2025.
Pharmacy Management System Market Dynamics
In recent years, the pharmaceutical industry has seen a high degree of automation, which has affected many aspects of the industry due to the significant benefits it brings to consumers. To improve their position in the industry, the main players in this market are aggressively focusing on forming alliances, agreements, and joint projects with pharmacy settings in various countries. Furthermore, the prevalence of chronic diseases is rising, necessitating the implementation of effective pharmacy management systems in developing and underdeveloped countries. Several government authorities in developed and emerging regions have emphasized the high efficacy rate of pharmacy management systems, resulting in market development. Furthermore, the growth of the healthcare sector has resulted in an increase in pharmacy business all over the world. The pharmacy industry is expanding due to a number of factors, including rising demand for medication to treat a variety of chronic illnesses, the demand for healthcare products, and an aging population that needs more medicine to treat age-related illnesses. Furthermore, the acceptance and advancements in medical technology are expected to boost market growth in the coming years.
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Pharmacy Management System Market Segmentation
The Pharmacy Management System Market has been divided into segments based on the type of solution, part, deployment mode, and end-user.
Pharmacy inventory management systems, pharmacy data management systems, pharmacy compounding software systems, pharmacy benefits management systems, pharmacy sales cycle management systems, and others are the different types of solutions available. Because of the increased use of such solutions for proper pharmacy management, the pharmacy inventory management system category is expected to be the largest. Due to rising understanding of the benefits of such solutions, the pharmacy data management system segment is expected to expand at the fastest rate.
The Global Pharmacy Management System Market has been segmented into software, hardware, and services based on the component. Due to the growing number of solution launches, the software segment is expected to hold the majority share of the market. Because of the increased use of hardware in pharmacy management operations, the hardware segment is projected to rise at the fastest rate.
The Global Pharmacy Management System Market has been segmented into cloud/web-based and on-premise implementation models. Due to an increase in the introduction of cloud-based solutions in recent years, the cloud/web-based segment has the largest share. Due to the widespread use of on-premise solutions, the on-premise segment is expected to rise at the fastest rate during the assessment period.
Inpatient pharmacies and outpatient pharmacies are the market’s end-users. Acute care environments and long-term care facilities have been separated from the inpatient pharmacy industry. Outpatient pharmacies are now divided into two types: fast-track clinics and hospital retail environments.
Pharmacy Management System Market Regional Overview
Because of the involvement of global players in the major countries of America, the Americas is projected to be the largest regional market.
The European region has the second-largest share, owing to increased regulatory support. NHS England announced in September 2019 that if it wants to proceed with its pharmacist consulting service after 2021, it will require all of its pharmacy contractors to have their own IT systems. This will boost the market for pharmacy management systems across the United Kingdom.
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In the global pharmacy management system market, the Asia-Pacific region is expected to expand at the fastest rate. Major corporations are actively participating in agreements and alliances in this area, which is causing a surge. For example, in August 2019, GE Healthcare launched Edison[X], a startup partnership program in India that will work with startups to create solutions for some of the healthcare problems, such as improving patient outcomes and pharmacy practices, on the Edison platform. Due to the increased adoption rate of pharmacy management software by local pharmacy facilities in Asian countries, the pharmacy management system market in this region is expected to expand at the fastest rate during the assessment period.
Due to inadequate healthcare facilities and exposure to novel technologies, the Middle East and Africa is the smallest region.
Pharmacy Management System Market Competitive Analysis
The major players of the market are Allscripts (US), Cerner Corporation (US), Datascan (US), Epicor Software (US), GlobeMed Group (Lebanon), Liberty Software (US), LS Retail (Iceland), McKesson (US), MedHOK (US), Octal IT Solution LLP (US), Safecare Technology (UAE), ScriptPro (US), Clanwilliam Health (Ireland), Mobile MedSoft (US), Health Business Systems (US).
Table Of Contents
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Pharmacy Management System Market, By Solution Type
1.1.2. Global Pharmacy Management System Market, By Component
1.1.3. Global Pharmacy Management System Market, By Deployment Mode
1.1.4. Global Pharmacy Management System Market, By End User
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Data Mining
3.3. Secondary Research
3.4. Primary Research
3.4.1. Breakdown Of Primary Respondents
3.5. Forecasting Techniques
3.6. Research Methodology For Market Size Estimation
3.6.1. Bottom-Up Approach
3.6.2. Top-Down Approach
3.7. Data Triangulation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
5.1. Porter’s Five Forces Analysis
5.1.1. Bargaining Power Of Suppliers
5.1.2. Bargaining Power Of Buyers
5.1.3. Threat Of New Entrants
5.1.4. Threat Of Substitutes
5.1.5. Intensity Of Rivalry
5.2. Value Chain Analysis
188.8.131.52. Software/Solution Development Processes
184.108.40.206. Marketing And Distribution
220.127.116.11. Post Sales Services
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