Global Pharmacy Management Software Market is valued approximately at USD xx billion in 2022 and is anticipated to grow with a growth rate of more than xx% over the forecast period 2023-2030. Pharmacy management software is a computer-based system used by pharmacists and pharmacy technicians to handle all facets of a pharmacy, including prescription filling, inventory management, financial reporting, and patient information. It is intended to aid pharmacies in streamlining their operations, increasing accuracy, and delivering better customer service. Additionally, it can aid pharmacies in finding any possible drug interactions as well as other security issues. The Pharmacy Management Software market is expanding because of factors such as increase in the number of hospitals and increased use of electronic medical records. Its importance has progressively increased during the last few decades.
According to the Statista, The global hospital market is expected to increase by 3.57% between 2023 and 2027, reaching a market size of US$4.70 trillion in that year. Another important component driving is increasing use of electronic medical records According to the Electronic health records (EHR) market value worldwide from 2020 to 2027. The global market for electronic health records (EHR) was estimated to be worth around 29 billion dollars in 2020. The global market for EHRs was expected to grow to more than 47 billion US dollars by 2027. In addition, increasing investment in research and development of drugs and technological advancement in dispensing systems are expected to provide lucrative opportunities to the pharma management software market growth in the forecast period. However, rising number of software breach cases and high installation cost stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Pharmacy Management Software Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing adoption of pharmacy management systems by pharmacies and hospitals. According to the National Community of Pharmacists Association, Furthermore, the increased use of electronic medical records increasingly allowed the pharmacies to integrate pharmacy management systems. Asia-Pacific is expected to be the fastest-growing market in the pharmaceutical industry. owing to factors such as technological advancement in pharmaceutical industry and growing healthcare infrastructure.
Major market player included in this report are:
Tata Consultancy Services Limited
Cognizant Technology Solutions Corporation
Capgemini Technology Services India Limited
Tech Mahindra Ltd
International Business Machines Corporation
Recent Developments in the Market:
• In June 2022 – GE Healthcare provides cutting-edge molecular imaging solutions that enable and increase access to precision health and theranostics to help improve patient outcomes across care areas, including prostate cancer. Where most medical therapies are designed with the average patient in mind, theranostics combines diagnoses and treatment in one application, providing a more targeted and personalized therapy than ever before.
• In January 2023, Walgreens collaborated with Tata Consultancy Services (TCS) and Microsoft to create a data platform that captures relevant data points at scale and transforms them into actionable insights in order to future-proof its infrastructure with a cloud-first approach and advanced AI capabilities.
Global Pharmacy Management Software Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Deployment, Type, Organization, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Middle East & Africa
Rest of Middle East & Africa