This report provides exclusive insights into the COVID-19 impact on the Pharmacy Management System Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Pharmacy Management System Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Pharmacy Management System Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on
pharmacy management system market provides in-depth analysis of segments and
sub-segments in the global as well as regional pharmacy management system
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional pharmacy management system market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of global pharmacy management system
market. According to the report, the global pharmacy management system market
is projected to grow at a CAGR of 11% over the forecast period of 2019-2025.
The IT sector has evolved a lot from the time of its
conception. Numerous applications of IT is been developed by market players.
One such application is in the healthcare sector. Various solutions are
developed to facilitate healthcare organizations and professionals. Pharmacy
management systems are one of the solutions developed to assist the
pharmacists. Using pharmacy management solutions, a pharmacist can run their
business more efficiently. The pharmacy management systems help the pharmacist
in several day-to-day business operations including inventory management, data
management, document management, benefits management, and others.
The rise in the number of prescriptions is one of the major
driving factors for the growth of the global pharmacy management system market.
In 2018 a total number of around 5.8 billion prescriptions were filled in
America alone. The prescriptions are been filled at a rate of 17.6
prescriptions per person, which is growing at 2.7% from 2017. This growth of
prescriptions is exerting pressure on the pharmacies to maintain the supply.
The pharmacy management systems provide solutions to reduce this pressure.
Moreover, the increase in regulatory compliance in the pharmacy sector is
providing a boost to the global pharmacy management system market. The pharmacy
management systems assist pharmacist in carrying out their normal business
operations more efficiently. Through implementing such solutions, the
pharmacists can easily track their business and maintain their records
digitally. However, the risks associated with data breach and hacking of the
devices are expected to be the major restraining factor for the growth of the
pharmacy management system market. On the other hand, the development of
innovative and sophisticated pharmacy management solutions is observed to be
growing at a rapid pace. This development of innovative solutions is
anticipated to offer lucrative business opportunities to the vendors supplying
pharmacy management system.
In terms of geography, the North American region generated
the highest revenue in the global pharmacy management system market. The
largest market share of the North American attributed to the strong presence of
the pharmacy management system vendors in the region. North America has an
advanced communication infrastructure along with a higher adoption of developed
technologies and higher expenditure on healthcare. This, in turn, augments the
demand for pharmacy management systems in North America. Europe is the
second-largest market for the pharmacy management system following North
America. While the Asia Pacific is anticipated to grow with the fastest rate
over the forecast period. The presence of a large patient pool, growing demand
for better healthcare infrastructure and growing investment in the healthcare
IT sector are some of the factors contributing to the growth of the pharmacy
management system in the Asia Pacific.
The report on global pharmacy management system market
covers segments such as solution, deployment type, and end-user. On the basis
of solution, the sub-markets include pharmacy inventory management system,
pharmacy data management system, pharmacy document management system, pharmacy
benefits management system, and other solutions. On the basis of deployment
type, the sub-markets include on-premise, and on-demand. On the basis of end-user,
the sub-markets include inpatient pharmacy, and outpatient pharmacy.
The report provides profiles of the companies in the market
such as Cerner Corporation, McKesson Corporation, Allscripts Healthcare
Solutions, Inc., Epicor Software Corporation, General Electric Company,
ScriptPro LLC, Clanwilliam Group Ltd., MedHOK, Inc, Boston Scientific
Corporation, and Other Companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of pharmacy
management system market. Moreover, the study highlights current market trends
and provides forecast from 2019-2025. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.