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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 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.
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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.
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.
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Market Breakup by Mode of Deployment
Market Breakup by Component
Market Breakup by Region
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.
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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.
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:
| 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:
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| Breakup by Mode of Deployment |
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| Breakup by Component |
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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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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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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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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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