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Pharmacy Management System Market

Global Pharmacy Management System Market Share, Size, Growth, Demand, Report, Forecast: By Mode of Deployment: On Premises, Cloud Based; By Component: Solutions, Services; Market Dynamics; Regional Analysis; Patent Analysis; Grants Analysis; Funding Analysis; Partnership and Collaborations Analysis; Supplier Landscape; 2024-2032

Global Pharmacy Management System Market Outlook

The global pharmacy management system market size was valued at USD 43.04 billion in 2023, driven by the rising demand for efficiency across the globe. The market size is anticipated to grow at a CAGR of 9.8% during the forecast period of 2024-2032 to achieve a value of USD 99.84 billion by 2032.

 

Pharmacy Management System: Introduction

Pharmacy management software is used in pharmacies to automate the workflow. Tasks such as reviewing physician orders and preparing medications, controlling the inventory, and making drug orders, handling billing and insurance, providing counseling, identifying incompatibilities can be handled by the management software. This software provides features such as online ordering systems, perpetual inventory systems, automatic dispensing systems, and inventory management among others.

 

Global Pharmacy Management System Market

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Pharmacy management systems improve pharmacists’ efficiency with seamless communication and easy prescription handling by the software. Such software may also help in improving patient outcomes as a patient can communicate through a patient portal with a pharmacist without any hassle of visiting him. The use of pharmacy management systems can also be done in connecting to HER which will make it easy for the pharmacist to access the patient’s medication history and even make better recommendations.

 

Global Pharmacy Management System Market Analysis

The increasing awareness about cloud storage among pharmacists and healthcare professionals is increasing the demand for pharmacy management systems as it decreases the chances of losing patient data or drug-related data. The convenience these systems provide when it comes to the checkout session is also a major factor driving the market demand. The integration of advanced technologies enables customers to pay through multiple payment channels such as credit cards, debit cards, SA/HSA cards, Apple Pay, online payment requests, and even easy fund returns processing, further intensifying the global pharmacy management system market growth. The increasing investments by the government and key players in developing advanced pharmacy management systems are also influencing the market growth.

 

The increasing development is driving the market growth. The market is also driven by increasing company mergers. For example, Cardinal Health has announced that their Outcomes™ business is set to merge with Transaction Data Systems (TDS). This merger is expected to improve patient engagement and clinical pharmacy solutions by connecting with other players and pharmacies.

 

Global Pharmacy Management System Market

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Global Pharmacy Management System Market Segmentations

Market Breakup by Mode of Deployment

  • On Premises
  • Cloud Based

 

Market Breakup by Component

  • Solutions
    • Inventory Management
    • Purchase Orders Management
    • Supply Chain Management
    • Regulatory and Compliance Information
    • Clinical and Administrative Performance
    • Others
  • Services

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Pharmacy Management System Market Overview

The increasing digitization in the healthcare sector is accountable for the increasing adoption of pharmacy management systems, driving market growth. The utilization of pharmacy management systems in optimizing inventory levels, and proven efficacy towards such operations are some major factors accounting for the global pharmacy management system market demand. The increasing integration of advanced technologies in these systems is responsible for their increased demand in the market.

 

Global Pharmacy Management System Market

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The introduction of telehealth and remote dispensing has increased the demand for pharmacy management systems. The increased focus on patient safety and care is also expected to drive market growth as with the use of pharmacy management systems the chances of medication errors are minimal to zero. The system ensures accurate dispensing of medicines and even provides drug interaction alerts. The increasing awareness towards electronic health records EHR and their integration with pharmacy management systems is associated with market growth as it provides easy access to patients’ medication history with the help of EHR and suggests medications accordingly.

 

Pharmacy Management System Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

 

  • McKesson Corporation 
  • Cerner Corporation 
  • Becton Dickinson and Co. 
  • GE Healthcare Inc. 
  • Talyst LLC 
  • Allscripts Healthcare Solution Inc. 
  • Epicor Software Corporation 
  • Omnicell Inc. 
  • ACG Infotech Ltd. 
  • Clanwilliam Health Ltd. 
  • DATASCAN (DCS Pharmacy Inc.) 
  • GlobeMed Ltd. 
  • Health Business Systems Inc. 
  • Idhasoft Ltd. 
  • MedHOK Inc.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Mode of Deployment
  • Component
  • Region
Breakup by Mode of Deployment
  • On Premises
  • Cloud Based
Breakup by Component
  • Solutions
  • Services
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • McKesson Corporation
  • Cerner Corporation
  • Becton Dickinson and Co.
  • GE Healthcare Inc.
  • Talyst LLC
  • Allscripts Healthcare Solution Inc.
  • Epicor Software Corporation
  • Omnicell Inc.
  • ACG Infotech Ltd.
  • Clanwilliam Health Ltd.
  • DATASCAN (DCS Pharmacy Inc.)
  • GlobeMed Ltd.
  • Health Business Systems Inc.
  • Idhasoft Ltd.
  • MedHOK Inc.

 

*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
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Pharmacy Management System Market Overview 

    3.1    Global Pharmacy Management System Market Historical Value (2017-2023) 
    3.2    Global Pharmacy Management System Market Forecast Value (2024-2032)
4    Global Pharmacy Management System Market Landscape
    4.1    Global Pharmacy Management System Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Pharmacy Management System Product Landscape
        4.2.1    Analysis by Mode of Deployment 
        4.2.2    Analysis by Components
5    Global Pharmacy Management System Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Pharmacy Management System Market Segmentation 
    6.1    Global Pharmacy Management System Market by Mode of Deployment 
        6.1.1    Market Overview
        6.1.2    On Premises
        6.1.3    Cloud Based
    6.2    Global Pharmacy Management System Market by Component
        6.2.1    Market Overview
        6.2.2    Solutions
            6.2.2.1    Inventory Management
            6.2.2.2    Purchase Orders Management
            6.2.2.3    Supply Chain Management
            6.2.2.4    Regulatory and Compliance Information
            6.2.2.5    Clinical and Administrative Performance
            6.2.2.6    Others
        6.2.3    Services
    6.3    Global Pharmacy Management System Market by Region
        6.3.1    Market Overview
        6.3.2    North America 
        6.3.3    Europe
        6.3.4    Asia Pacific
        6.3.5    Latin America
        6.3.6    Middle East and Africa
7    North America Pharmacy Management System Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Pharmacy Management System Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Pharmacy Management System Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Pharmacy Management System Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Pharmacy Management System Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Grants Analysis
    12.1    Analysis by year
    12.2    Analysis by Amount Awarded
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Grant Application
    12.5    Analysis by Funding Institute
    12.6    Analysis by NIH Departments
    12.7    Analysis by Recipient Organization 
13    Funding Analysis
    13.1    Analysis by Funding Instances
    13.2    Analysis by Type of Funding
    13.3    Analysis by Funding Amount
    13.4    Analysis by Leading Players
    13.5    Analysis by Leading Investors
    13.6    Analysis by Geography
14    Partnership and Collaborations Analysis
    14.1    Analysis by Partnership Instances
    14.2    Analysis by Type of Partnership
    14.3    Analysis by Leading Players
    14.4    Analysis by Geography
15    Regulatory Framework
    15.1    Regulatory Overview
        15.1.1    US FDA
        15.1.2    EU EMA
        15.1.3    INDIA CDSCO
        15.1.4    JAPAN PMDA
        15.1.5    Others
16    Supplier Landscape
    16.1    McKesson Corporation
        16.1.1    Financial Analysis
        16.1.2    Product Portfolio
        16.1.3    Demographic Reach and Achievements
        16.1.4    Mergers and Acquisition
        16.1.5    Certifications
    16.2    Cerner Corporation
        16.2.1    Financial Analysis
        16.2.2    Product Portfolio
        16.2.3    Demographic Reach and Achievements
        16.2.4    Mergers and Acquisition
        16.2.5    Certifications
    16.3    Becton Dickinson and Co.
        16.3.1    Financial Analysis
        16.3.2    Product Portfolio
        16.3.3    Demographic Reach and Achievements
        16.3.4    Mergers and Acquisition
        16.3.5    Certifications
    16.4    GE Healthcare Inc.
        16.4.1    Financial Analysis
        16.4.2    Product Portfolio
        16.4.3    Demographic Reach and Achievements
        16.4.4    Mergers and Acquisition
        16.4.5    Certifications
    16.5    Talyst LLC
        16.5.1    Financial Analysis
        16.5.2    Product Portfolio
        16.5.3    Demographic Reach and Achievements
        16.5.4    Mergers and Acquisition
        16.5.5    Certifications
    16.6    Allscripts Healthcare Solution Inc.
        16.6.1    Financial Analysis
        16.6.2    Product Portfolio
        16.6.3    Demographic Reach and Achievements
        16.6.4    Mergers and Acquisition
        16.6.5    Certifications
    16.7    Epicor Software Corporation
        16.7.1    Financial Analysis
        16.7.2    Product Portfolio
        16.7.3    Demographic Reach and Achievements
        16.7.4    Mergers and Acquisition
        16.7.5    Certifications
    16.8    Omnicell Inc.
        16.8.1    Financial Analysis
        16.8.2    Product Portfolio
        16.8.3    Demographic Reach and Achievements
        16.8.4    Mergers and Acquisition
        16.8.5    Certifications
    16.9    ACG Infotech Ltd.
        16.9.1    Financial Analysis
        16.9.2    Product Portfolio
        16.9.3    Demographic Reach and Achievements
        16.9.4    Mergers and Acquisition
        16.9.5    Certifications
    16.10    Clanwilliam Health Ltd.
        16.10.1    Financial Analysis
        16.10.2    Product Portfolio
        16.10.3    Demographic Reach and Achievements
        16.10.4    Mergers and Acquisition
        16.10.5    Certifications
    16.11    DATASCAN (DCS Pharmacy Inc.)
        16.11.1    Financial Analysis
        16.11.2    Product Portfolio
        16.11.3    Demographic Reach and Achievements
        16.11.4    Mergers and Acquisition
        16.11.5    Certifications
    16.12    GlobeMed Ltd.
        16.12.1    Financial Analysis
        16.12.2    Product Portfolio
        16.12.3    Demographic Reach and Achievements
        16.12.4    Mergers and Acquisition
        16.12.5    Certifications
    16.13    Health Business Systems Inc.
        16.13.1    Financial Analysis
        16.13.2    Product Portfolio
        16.13.3    Demographic Reach and Achievements
        16.13.4    Mergers and Acquisition
        16.13.5    Certifications
    16.14    Idhasoft Ltd.
        16.14.1    Financial Analysis
        16.14.2    Product Portfolio
        16.14.3    Demographic Reach and Achievements
        16.14.4    Mergers and Acquisition
        16.14.5    Certifications
    16.15    MedHOK Inc.
        16.15.1    Financial Analysis
        16.15.2    Product Portfolio
        16.15.3    Demographic Reach and Achievements
        16.15.4    Mergers and Acquisition
        16.15.5    Certifications
17    Global Pharmacy Management System Market - Distribution Model (Additional Insight)
    17.1    Overview 
    17.2    Potential Distributors 
    17.3    Key Parameters for Distribution Partner Assessment 
18    Key Opinion Leaders (KOL) Insights (Additional Insight)
19    Company Competitiveness Analysis (Additional Insight)

    19.1    Very Small Companies
    19.2    Small Companies
    19.3    Mid-Sized Companies
    19.4    Large Companies
    19.5    Very Large Companies
20    Payment Methods (Additional Insight)
    20.1    Government Funded
    20.2    Private Insurance
    20.3    Out-of-Pocket


*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The market attained a value of about USD 43.04 billion in 2023, driven by rising regulatory compliance.

The market is anticipated to grow at a CAGR of 9.8% during the forecast period of 2024-2032 and is likely to reach a market value of USD 99.84 billion by 2032.

The increasing awareness about pharmacy management systems and the features they provide to increase the productivity of pharmacists and reduce time consumption is a major factor driving the market growth.

The increasing advanced development of pharmacy management systems and increasing company mergers are major trends influencing market growth.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.

The mode of deployment includes on-premises and cloud-based.

Pharmacy management includes solutions such as inventory management, purchase orders management, supply chain management, regulatory and compliance information, and clinical and administrative performance, among others. it also includes services.

Key players involved in the market are McKesson Corporation, Cerner Corporation, Becton Dickinson and Co., GE Healthcare Inc., Allscripts Healthcare Solution Inc., Epicor Software Corporation, Omnicell Inc., ACG Infotech Ltd., Clanwilliam Health Ltd., DATASCAN (DCS Pharmacy Inc.), GlobeMed Ltd., Health Business Systems Inc., Idhasoft Ltd., MedHOK Inc., and Talyst LLC.

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