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Global Pharmacy Management System Market Share, Size, Growth, Report, Forecast: By Component: Solution, Services; By Deployment Type: Cloud Based, On-Premises; By Organisation Size: Small and Medium Size Enterprises, Large Size Enterprises; By End Use: Inpatient Pharmacy, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Pharmacy Management System Market Outlook
The global pharmacy management system market size reached a value of around USD 7.59 billion in 2022. The market is further expected to grow at a CAGR of 9.0% between 2023 and 2028, to reach a value of USD 12.69 billion by 2028.
Key Trends in the Market
A pharmacy management system refers to solutions that are designed to streamline and optimise the day-to-day operations of a pharmacy. It facilitates the management of supply chains, inventory, purchase orders, compliance, and clinical and administrative performance. The system attempts to increase productivity, accuracy, and efficiency in a pharmaceutical setting.
- The rising requirement for effective and efficient management of pharmacy operations is increasing the pharmacy management system market demand globally. The market is further anticipated to expand significantly over the next few years as a result of the increasing number of pharmacies and the demand for better patient care.
- One of the key pharmacy management system market trends driving the market growth is the increasing IT adoption in the healthcare industry, rising hospital spending on new software for effective management of healthcare processes, and growing adoption of automated workflow management solutions.
- It is projected that the growth of pharmacy management services will open new business opportunities for the manufacturers of pharmacy management systems. In addition, the initiatives of various governments to enhance pharmaceutical workflows will likely help the market and open up new opportunities for the pharmacy management systems.
Global Pharmacy Management System Market Analysis
Based on component, the market is divided into solution and services. Solution is further divided by type into inventory management, purchase orders management, supply chain management, regulatory and compliance information, clinical and administrative performance, and other solutions, while services are sub-divided by type into professional services and managed services.
The pharmacy management system market segmentation, based on deployment type, is cloud based and on-premises. On the basis of organisation size, the market is segmented into small and medium size enterprises, and large size enterprises. Based on end use, the market is divided into inpatient pharmacy and outpatient pharmacy. The regional markets for pharmacy management systems are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global pharmacy management system market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Mckesson Corporation
- Cerner Corporation
- RedSail Technologies, LLC
- DRX Software LLC
- Epicor Software Corporation
- Becton Dickinson and Co.
- Transaction Data Systems, Inc.
- Swisslog Healthcare AG
- DataScan Pharmacy
- Liberty Software, LLC
- Others
Global Pharmacy Management System Market Share by Component
Solutions account for a sizable share of the market for pharmacy management systems by component, fuelled by the versatility and cost effectiveness of the various solutions available. Depending upon the organisation size, budget, and requirements, suitable solutions can be adapted into pharmacy operations. Inventory management is a popular solution which is expected to bolster the pharmacy management system market growth as inventory management solutions aid in lowering inventory costs, improving customer experience, and enhancing expiration date tracking.
Global Pharmacy Management System Market Share by Deployment Type
Cloud based deployment type of pharmacy management systems is anticipated to grow rapidly in the overall market, driven by the increased convenience, reliability, and real-time updated of cloud based deployments. Several providers are creating cloud-based deployment solutions for simple information sharing with clients and other stakeholders. The ease with which information may be accessed in remote locations utilising such systems is driving demand for commercially available cloud solutions. Cloud service providers also provide solutions that address different risks and offer assurance against data loss and theft, thus propelling the pharmacy management system global market.
Competitive Landscape
Mckesson Corporation, founded in 1833 and headquartered in Texas in the United States offers healthcare services and IT solutions. It provides pharmacy management software, pharmacy automation solutions, drug purchasing management, and patient adherence and wellness, among others.
Cerner Corporation was established in 1979 and offers healthcare information technology solutions and related services. Headquartered in Missouri, United States, services offered by Cerner include implementation and training, operational management, remote hosting, support and maintenance, and clinical process optimisation.
RedSail Technologies, LLC, a pioneer in pharmacy technology and public sector software, was established in 2020 and has its headquarters in South Carolina in the United States. The company offers pharmacy and public sector customers in North America software solutions for healthcare and governmental sectors.
Other market players include DRX Software LLC, Epicor Software Corporation, Becton Dickinson and Co., Transaction Data Systems, Inc., Swisslog Healthcare AG, DataScan Pharmacy, and Liberty Software, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Type |
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| Breakup by Organisation Size |
|
| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pharmacy Management System Market Analysis
8.1 Key Industry Highlights
8.2 Global Pharmacy Management System Historical Market (2018-2022)
8.3 Global Pharmacy Management System Market Forecast (2023-2028)
8.4 Global Pharmacy Management System Market by Component
8.4.1 Solution
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Breakup by Type
8.4.1.3.1 Inventory Management
8.4.1.3.2 Purchase Orders Management
8.4.1.3.3 Supply Chain Management
8.4.1.3.4 Regulatory and Compliance Information
8.4.1.3.5 Clinical and Administrative Performance
8.4.1.3.6 Other Solutions
8.4.2 Services
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 Breakup by Type
8.4.2.3.1 Professional Services
8.4.2.3.2 Managed Services
8.5 Global Pharmacy Management System Market by Deployment Type
8.5.1 Cloud Based
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 On-Premises
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Pharmacy Management System Market by Organisation Size
8.6.1 Small and Medium Size Enterprises
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Large Size Enterprises
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Pharmacy Management System Market by End Use
8.7.1 Inpatient Pharmacy
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Outpatient Pharmacy
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.8 Global Pharmacy Management System Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Pharmacy Management System Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Pharmacy Management System Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Pharmacy Management System Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Pharmacy Management System Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Pharmacy Management System Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Mckesson Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cerner Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 RedSail Technologies, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 DRX Software LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Epicor Software Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Becton Dickinson and Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Transaction Data Systems, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Swisslog Healthcare AG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 DataScan Pharmacy
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Liberty Software, LLC
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pharmacy Management System Market: Key Industry Highlights, 2018 and 2028
2. Global Pharmacy Management System Historical Market: Breakup by Component (USD Million), 2018-2022
3. Global Pharmacy Management System Market Forecast: Breakup by Component (USD Million), 2023-2028
4. Global Pharmacy Management System Historical Market: Breakup by Deployment (USD Million), 2018-2022
5. Global Pharmacy Management System Market Forecast: Breakup by Deployment (USD Million), 2023-2028
6. Global Pharmacy Management System Historical Market: Breakup by Organisation Size (USD Million), 2018-2022
7. Global Pharmacy Management System Market Forecast: Breakup by Organisation Size (USD Million), 2023-2028
8. Global Pharmacy Management System Historical Market: Breakup by End Use (USD Million), 2018-2022
9. Global Pharmacy Management System Market Forecast: Breakup by End Use (USD Million), 2023-2028
10. Global Pharmacy Management System Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Pharmacy Management System Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Pharmacy Management System Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Pharmacy Management System Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Pharmacy Management System Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Pharmacy Management System Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Pharmacy Management System Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Pharmacy Management System Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Pharmacy Management System Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Pharmacy Management System Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Pharmacy Management System Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Pharmacy Management System Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Pharmacy Management System Market Structure
Key Questions Answered in the Report
In 2022, the global market for pharmacy management systems attained a value of USD 7.59 billion.
The market for pharmacy management systems is projected to grow at a CAGR of 9.0% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach USD 12.69 billion by 2028.
The major drivers of the market include the increasing need for efficient and effective management of pharmacy operations, growing need for better patient care, and increasing investments by hospitals.
The growing number of pharmacies, rising IT adoption in the healthcare sector, and increasing adoption of EHRs are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The primary deployment types of pharmacy management systems are cloud based and on-premises.
The key players in the pharmacy management system market are Mckesson Corporation, Cerner Corporation, RedSail Technologies, LLC, DRX Software LLC, Epicor Software Corporation, Becton Dickinson and Co., Transaction Data Systems, Inc., Swisslog Healthcare AG, DataScan Pharmacy, and Liberty Software, LLC, among others.
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