Pharmacy Management System Market is expected to reach US$ 13,985.27 million by 2027

The solutions segment is expected to grow at a significant pace over the forecast period.

According to The Insight Partners market research titled 'Pharmacy Management System Market to 2027 - Global Analysis and Forecasts by Component, Deployment, and Size.' The global pharmacy management system market was valued at US$ 5,724.82 million in 2019 and it is projected to reach US$ 13,985.27 million by 2027; it is expected to grow at a CAGR of 11.9% from 2020 to 2027. The report provides trends prevailing in the global pharmacy management system market along with market drivers and restraints.

The global pharmacy management system market, based on the component, was segmented as solutions and services. In 2019, the solutions segment accounted for the largest market share in the global pharmacy management system market by product. Solutions play a vital role in effective and safe dispensing of pharmaceutical drugs, helps pharmacists to verify medications, hence the segment is anticipated to grow at a significant rate during the forecast period.

Major factors boosting the growth of market include development of healthcare IT sector and increasing number of pharmacies. However, incorrect data consolidation is hampering growth of the market to a certain extent.

The pharmacy management system market majorly consists of players such as McKesson Corporation, Cerner Corporation, General Electric Company, Allscripts Healthcare, LLC, Epicor Software Corporation and OMNICELL INC. Several companies in the market are concentrating on inorganic strategies, such as partnership for enhancing their position in the market. For instance, in May 2018, Sentara RMH Medical Center has adopted Omnicell’s central pharmacy automation to enhance control, efficiency, and safety of its medication management processes.

Global Pharmacy Management System Market, By Regions, 2018 (%)

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Pharmacy Management System Market Share & Growth by 2027

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Pharmacy Management System Market to 2027 - Global Analysis and Forecasts By Component (Solutions, Services); Deployment (Cloud-based, On-premise); Size (Small- and Medium-sized Pharmacies, Large Pharmacy), and Geography

The report segments global pharmacy management system market as follows:

Global Pharmacy Management System Market - By Component

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

Global Pharmacy Management System Market - By Deployment

• Cloud-based
• On-premise

Global Pharmacy Management System Market - By Size

• Small- and Medium-sized Pharmacies
• Large Pharmacy

Global Pharmacy Management System Market - By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • U.K
  • Spain
  • Italy
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Middle East & Africa (MEA)
  • Saudi Arabia
  • U.A.E
  • South Africa
• South & Central America (SCAM)
  • Brazil
  • Argentina

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