[Latest] Global Pharmacy Management System Market Size/Share Worth USD 156.6 Billion by 2032 at a 10.1% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Pharmacy Management Software Market size & share revenue was valued at approximately USD 66.87 Billion in 2022 and is expected to reach USD 73.5 Billion in 2023 and is expected to reach around USD 156.6 Billion by 2032, at a CAGR of 10.1% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are McKesson Corporation, Cerner Corporation, Epic Systems Corporation, Athenahealth, NextGen Healthcare, Allscripts Healthcare Solutions Inc., eClinicalWorks, Parata Systems, Omnicell Inc., ScriptPro, PioneerRx, AmerisourceBergen Corporation, QS/1, Computer-Rx, Datarithm, RxCrossroads, Liberty Software, PharmacyRx Solutions, Pharmacies Systems Inc. (PSI), SRS Pharmacy Systems, and others.


Austin, TX, USA, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled Pharmacy Management System Market Size, Trends and Insights By Solution Type (Pharmacy Inventory Management System, Pharmacy Data Management System, Pharmacy Compounding Software System, Pharmacy Benefits Management System, Pharmacy Revenue Cycle Management System, Others), By Component (Software, Hardware, Services), By Deployment Mode (Web-Based, On-Premise), By End User (Inpatient Pharmacies, Outpatient Pharmacies), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 in its research database.

“According to the latest research study, the demand of global Pharmacy Management System Market size & share was valued at approximately USD 66.87 Billion in 2022 and is expected to reach USD 73.5 Billion in 2023 and is expected to reach a value of around USD 156.6 Billion by 2032, at a compound annual growth rate (CAGR) of about 10.1% during the forecast period 2023 to 2032.”

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Pharmacy Management System Market: Growth Factors and Dynamics

  • Increasing Medication Demand: The rising global population and the prevalence of chronic diseases have increased the demand for medications. PMS systems help streamline medication dispensing and management, making them essential in healthcare facilities.
  • Regulatory Compliance: Stringent healthcare regulations and standards drive the need for accurate record-keeping, prescription management, and medication safety, propelling PMS adoption.
  • Medication Adherence: PMS systems play a crucial role in improving patient medication adherence, leading to better health outcomes and reduced healthcare costs.
  • Telehealth and Remote Care: The growth of telehealth services has created opportunities for PMS providers to offer remote prescription management, enhancing accessibility and convenience for patients.
  • Data Analytics: PMS systems increasingly incorporate data analytics, providing insights into patient health and medication trends, leading to more personalized care and optimized outcomes.
  • Integration with IoT: The integration of Internet of Things (IoT) devices and wearables with PMS systems allows real-time monitoring of patient health and medication adherence.
  • Patient-Centric Care: Patient engagement is a growing focus in healthcare, and PMS solutions support this by offering patient portals and medication management tools for active participation in care plans.
  • Telepharmacy and Remote Services: Telepharmacy solutions are on the rise, offering remote medication consultation and prescription management, especially in underserved areas.
  • Supply Chain Optimization: PMS systems contribute to supply chain efficiency, ensuring the availability of medications, reducing waste, and improving inventory management.
  • Artificial Intelligence and Automation: AI and automation are being integrated into PMS systems for tasks like prescription verification, drug interactions, and inventory management, enhancing efficiency and safety.
  • Pharmacy Network Expansion: The growth of pharmacy chains and retail outlets has increased the demand for centralized PMS solutions for streamlined operations and inventory control.
  • Global Health Events: Events like the COVID-19 pandemic have underscored the need for efficient medication management and distribution, leading to increased PMS adoption.
  • Personalized Medicine: The trend toward personalized medicine requires robust PMS systems capable of tailoring medication regimens to individual patient needs.
  • Patient Data Security: Data security and privacy are paramount in healthcare. PMS providers must continually enhance cybersecurity measures to protect patient information.

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Pharmacy Management System Market: Partnership and Acquisitions

  • In April 2023, BD unveiled an innovative ultrasound device tailored for medical professionals, enhancing IV placement accuracy. The BD Prevue II System fills a crucial gap in IV access by incorporating real-time needle depth markers. This technology integrates the BD Cue Needle Tracking System, which delivers high-quality ultrasound images of needle trajectories. Moreover, it seamlessly interfaces with BD Cue Needle Tracking-enabled catheters, offering a comprehensive solution for clinicians.
  • In February 2023, Nova Scotia, in collaboration with Nova Scotia Health Authority (NSHA) and IWK Health (IWK), finalized a 10-year partnership with Oracle Center to roll out an integrated electronic care record system statewide, serving over one million Nova Scotians. Known as “One Person One Record” (OPOR), this modernization initiative prioritizes streamlined access to real-time health information for clinicians, freeing them from excessive computer time and enabling more patient-focused care.
  • In May 2022, ValGenesis Inc. (USA), a specialist in enterprise Validation Lifecycle Management Systems (VLMS), joined forces with Zenovative (USA), a technology development and consulting firm. This strategic alliance is dedicated to delivering distinctive, compliance-focused digital validation solutions to pharmaceutical companies worldwide.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 73.5 Billion
Projected Market Size in 2032 USD 156.6 Billion
Market Size in 2022 USD 66.87 Billion
CAGR Growth Rate 10.1% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Solution Type, Component, Deployment Mode, End User and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

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(Please note that the sample of the Pharmacy Management System report has been modified to include the COVID-19 impact study prior to delivery.)

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Pharmacy Management System Market: COVID-19 Analysis

The COVID-19 pandemic has had a profound impact on the Pharmacy Management System (PMS) market, reshaping its dynamics and accelerating certain trends. Here’s an analysis of the impact:

  • Increased Demand for Telepharmacy: To minimize physical contact and ensure continued patient care, telepharmacy services became crucial during the pandemic. PMS systems adapted to support remote consultations, prescription management, and medication delivery, leading to a surge in demand for these features.
  • Medication Adherence and Remote Monitoring: The pandemic emphasized the importance of medication adherence. PMS systems integrated features to monitor patient compliance and offered remote monitoring options, addressing the need for virtual patient care.
  • Supply Chain Disruptions: The disruption of global supply chains affected medication availability. PMS systems played a critical role in managing inventory, optimizing stock levels, and ensuring the availability of essential medications.
  • E-Prescriptions and Digital Records: To reduce in-person interactions, the adoption of electronic prescriptions and digital patient records soared. PMS systems facilitated this transition, enhancing safety and efficiency.
  • Vaccination Management: PMS systems played a central role in COVID-19 vaccination campaigns, from appointment scheduling to inventory management and tracking adverse events, highlighting their adaptability to public health emergencies.
  • Data Security and Privacy: With the increased use of digital healthcare services, data security and patient privacy have become paramount. PMS providers reinforced cybersecurity measures to safeguard sensitive patient information.
  • AI and Automation Integration: The need for rapid and accurate decision-making in healthcare led to greater integration of AI and automation within PMS systems. These technologies facilitated tasks like drug interaction checks and patient data analysis.
  • Regulatory Adaptations: Regulatory agencies temporarily adjusted rules to accommodate telehealth and digital healthcare solutions. PMS systems needed to align with these changes and stay compliant.
  • Rise in Self-Service Options: PMS systems incorporated self-service features, allowing patients to access their medication records, refill prescriptions, and communicate with healthcare providers independently.
  • Financial Pressures: Healthcare facilities faced financial constraints during the pandemic. PMS systems had to demonstrate cost-effectiveness and offer scalable solutions to align with tightened budgets.

In summary, the COVID-19 pandemic accelerated the adoption of digital healthcare solutions and underscored the vital role of Pharmacy Management Systems in responding to public health emergencies. The focus on remote care, data security, and efficient medication management has become more pronounced, shaping the future of the PMS market.

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Key questions answered in this report:

  • What is the size of the Pharmacy Management System market and what is its expected growth rate?
  • What are the primary driving factors that push the Pharmacy Management System market forward?
  • What are the Pharmacy Management System Industry's top companies?
  • What are the different categories that the Pharmacy Management System Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Pharmacy Management System market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2023−2032
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Pharmacy Management System Market:

  • McKesson Corporation
  • Cerner Corporation
  • Epic Systems Corporation
  • Athenahealth
  • NextGen Healthcare
  • Allscripts Healthcare Solutions Inc.
  • eClinicalWorks
  • Parata Systems
  • Omnicell Inc.
  • ScriptPro
  • PioneerRx
  • AmerisourceBergen Corporation
  • QS/1
  • Computer-Rx
  • Datarithm
  • RxCrossroads
  • Liberty Software
  • PharmacyRx Solutions
  • Pharmacies Systems Inc. (PSI)
  • SRS Pharmacy Systems
  • Others

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Browse the full Pharmacy Management System Market Size, Trends and Insights By Solution Type (Pharmacy Inventory Management System, Pharmacy Data Management System, Pharmacy Compounding Software System, Pharmacy Benefits Management System, Pharmacy Revenue Cycle Management System, Others), By Component (Software, Hardware, Services), By Deployment Mode (Web-Based, On-Premise), By End User (Inpatient Pharmacies, Outpatient Pharmacies), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 Report at https://www.custommarketinsights.com/report/pharmacy-management-system-market/

Pharmacy Management System Market – Regional Analysis

The Pharmacy Management System Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: North America, comprising the U.S. and Canada, is a mature market for Pharmacy Management Systems. The region emphasizes robust data security, interoperability, and compliance with regulations like HIPAA. Trends include the adoption of advanced PMS solutions incorporating AI for clinical decision support, telepharmacy services, and increasing integration with Electronic Health Records (EHRs). Additionally, there’s a growing focus on mobile and patient-centric features to improve medication adherence and enhance the overall patient experience.
  • Europe: Europe’s Pharmacy Management System market is characterized by a diverse regulatory landscape and a focus on patient-centered care. Trends encompass the integration of PMS with national healthcare systems, e-prescription initiatives, and cross-border data exchange. Personalized medicine and pharmacogenomics are emerging areas of interest. Cloud-based systems are gaining traction, enhancing accessibility and scalability, while data privacy under GDPR drives advanced security measures.
  • Asia-Pacific: The Asia-Pacific region demonstrates a rapidly growing PMS market due to the expanding healthcare infrastructure and increasing demand for quality care. Trends involve the adoption of cloud-based PMS to address scalability and affordability concerns. Telehealth and remote prescription management are gaining prominence, especially in remote areas. Governments in countries like India and China are promoting e-health initiatives, offering opportunities for PMS providers to integrate with these initiatives.
  • LAMEA: LAMEA’s PMS market is marked by varying healthcare standards and infrastructure levels across countries. The region is witnessing a gradual shift toward digitization, driven by regulatory compliance and the need to improve healthcare access. PMS trends include the development of region-specific solutions, mobile health apps, and telepharmacy services to reach underserved populations. Interoperability with Electronic Health Records (EHRs) is emerging as a priority, particularly in the Middle East and South Africa, to enhance patient care coordination.

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The Pharmacy Management System Market is segmented as follows:

By Solution Type

  • Pharmacy Inventory Management System
  • Pharmacy Data Management System
  • Pharmacy Compounding Software System
  • Pharmacy Benefits Management System
  • Pharmacy Revenue Cycle Management System
  • Others

By Component

  • Software
  • Hardware
  • Services

By Deployment Mode

  • Web-Based
  • On-Premise

By End User

  • Inpatient Pharmacies
  • Outpatient Pharmacies

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Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

This Pharmacy Management System Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Pharmacy Management System Market? What are Their Company Profile, Product Information, and Contact Information?
  • What Was the Global Market Status of the Pharmacy Management System Market? What Was the Capacity, Production Value, Cost and PROFIT of the Pharmacy Management System Market?
  • What Is the Current Market Status of the Pharmacy Management System Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Pharmacy Management System Market by Considering Applications and Types?
  • What Are Projections of the Global Pharmacy Management System Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is Pharmacy Management System Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is the Economic Impact On Pharmacy Management System Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Pharmacy Management System Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Pharmacy Management System Industry?

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Reasons to Purchase Pharmacy Management System Market Report

  • Pharmacy Management System Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • Pharmacy Management System Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • Pharmacy Management System Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • Pharmacy Management System Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

  • The study provides a thorough overview of the global Pharmacy Management System market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Pharmacy Management System market analysis.
  • The competitive environment of current and potential participants in the Pharmacy Management System market is covered in the report, as well as those companies' strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  • Participants and stakeholders worldwide Pharmacy Management System market should find this report useful. The research will be useful to all market participants in the Pharmacy Management System industry.
  • Managers in the Pharmacy Management System sector are interested in publishing up-to-date and projected data about the worldwide Pharmacy Management System market.
  • Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Pharmacy Management System products' market trends.
  • Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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