The pharmacy management systems market was valued at $ 16,056.04 million in 2019 and is expected to grow at a CAGR of 11.9% from 2020 to 2027 to $ 39,223.60 Millions by 2027.
A pharmacy management system is an essential tool that comes with powerful and easy-to-use pharmacy management services. These systems help pharmacists manage complex tasks such as drug dispensing, inventory management and point-of-sales functions. The global pharmacy management systems market is being driven by factors such as the development of the healthcare IT industry, the increase in the number of pharmacies worldwide, and the improvement of healthcare infrastructure in developing countries. However, constraints such as downtime, high costs, and system incompatibilities related to the pharmacy management system are expected to inhibit market growth over the forecast period. Additionally, the increasing demand for pharmacy management systems in APAC and in European countries is likely to offer significant growth opportunities in the near future to improve the market share of players in the industry.
(** Note: The sample of this report is updated with the COVID-19 Impact Analysis **)
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The Pharmacy Management Systems market is mainly composed of players like McKesson Corporation, Cerner Corporation, General Electric Company, Allscripts Healthcare, LLC, Epicor Software Corporation, and OMNICELL INC. Several companies in the market focus on inorganic strategies such as partnerships to improve their position in the market. For example, in May 2018 the Sentara RMH Medical Center introduced Omnicell’s central pharmacy automation to improve the control, efficiency and safety of its drug management processes.
The Global Pharmacy Management Systems Market Based On The Component Has Been Segmented Into Solutions And Services. In 2019, the solutions segment by product had the largest market share in the global pharmacy management systems market. Solutions play an important role in the effective and safe dispensing of medicines and help pharmacists with drug screening. Therefore, the segment is expected to grow significantly over the forecast period.
Report introduction, overview and in-depth industry analysis
- 150+ pages research report
- Contains a list of tables and figures
- Regional analysis with graphical representation of size, share and trends
- Provide chapter-by-chapter instructions on request
- Facts and Factors Research Methodology
- The report includes top market players with their business strategy, sales volume and sales analysis
NOTE: Our analysts, who are monitoring the situation around the world, explain that the market will create profitable prospects for producers after the COVID-19 crisis. The report aims to provide an additional example of the latest scenario, economic slowdown and impact of COVID-19 across the industry.
The report is a combination of qualitative and quantitative analysis of the pharmacy management system industry. The global market primarily accounts for five major regions, namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SACM). The report also focuses on the comprehensive PEST analysis and market dynamics over the forecast period.
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- Examine in-depth global market trends and prospects in connection with the factors driving the market as well as those that are inhibiting growth to some extent.
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