Forecast Period 
Market Size (Base Year) 
Market Size (Forecast Year)
CAGRGlobal Pharmacy Information Systems Market, By Type (Inpatient Pharmacy Information Systems, Outpatient Pharmacy Information Systems), Component (Services, Hardware, Software), Deployment Model (Cloud Based, On-Premise, Web Based), Application (Physician Offices, Hospital and Pharmacy, Paramedic Services, Others) – Industry Trends and Forecast to 2029.
Pharmacy Information Systems Market Analysis and Size
The pharmacy information systems aids the pharmacist in handling different value chain stakeholders and medication regulation. By reducing the communication gap, supplying authentic pharmaceuticals, and lowering the rates of drug counterfeiting, pharmacy information systems enable pharmacists to deliver effective, professional, and tailored treatment (depending on the patient's requirements) and streamline the workflow. The demand for pharma informatics solutions is growing as a result of increased healthcare costs and enhanced business processes for pharmaceutical businesses to manage inventory and patient records..
Data Bridge Market Research analyses that the pharmacy information systems market which was USD 9.5 billion in 2021, would rocket up to USD 21.74 billion by 2029, and is expected to undergo a CAGR of 10.90% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Pharmacy Information Systems Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Inpatient Pharmacy Information Systems, Outpatient Pharmacy Information Systems), Component (Services, Hardware, Software), Deployment Model (Cloud Based, On-Premise, Web Based), Application (Physician Offices, Hospital and Pharmacy, Paramedic Services, Others) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
Carestream Health (U.S.), Parata Systems,LLC (U.S.), Swisslog Holding AG (Switzerland), eClinical Works (U.S.), Athenahealth (U.S.), Cerner Corporation (U.S.), BestRx (U.S.), Epic Systems (U.S.), eClinicalWorks (U.S.), Allscripts Healthcare Solutions (U.S.), ScriptPro LLC (U.S.), McKesson Corporation (U.S.), Parata Systems (U.S.) |
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Market Opportunities |
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Market Definition
Hospital pharmacy departments employ computer systems called pharmacy information systems (PIS). These intricate systems were created expressly to meet the pharmacy division's needs. Pharmacy information systems also enable pharmacists to supervise and track the usage of drugs in hospitals. Pharmacy information systems can also be used to complete duties including inventory management, pricing, billing, and medication administration (PIS).
Pharmacy Information Systems Market Dynamics
Drivers
- Growing investments in pharma sectors
Growing investment in pharmacy management systems is anticipated to boost market expansion. During the forecast period of 2022 to 2029, it is anticipated that additional factors like rising government funding, rising adoption of cutting-edge technologies, and rising number of healthcare instrument makers would propel the pharmacy information systems market.
- Technological advancements
Other factors influencing the expansion of the global PIS market include the rise in healthcare instrument manufacturers across the globe, increased funding, and technical developments.
Opportunities
Due to the huge shift in patient-centric solutions, government agencies and venture capitalists are boosting their investments, which will support the market for pharmacy information systems going forward.
Restraints/Challenges
On the other hand, high cost of the pharmacy information systems and dearth of skilled and trained professionals will obstruct the market's growth rate.
This pharmacy information systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pharmacy information systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Pharmacy Information Systems Market
The COVID-19 pandemic has a favourable effect on the market for pharmacy information systems worldwide. Due to the increase in patients during the pandemic, there is a greater need for efficient healthcare management systems. There is also a greater use and adoption of cloud-based pharmacy information systems to monitor and record data linked to medicine supply and upcoming orders. Additionally, it has been observed that most patients connected to their consultants throughout the pandemic via these platforms to obtain information and answer questions about the treatments. As a result, the market's overall growth has accelerated.
Recent Development
- In Feb 2021, Parata Systems recently launched an enhanced Website as a comprehensive pharmacy automation system to improved patient outcomes. The new website makes it simpler for pharmacy professionals to find solutions for the problems in their particular market segments by offering the most comprehensive pharmacy automation portfolio to promote improved patient outcomes.
Global Pharmacy Information Systems Market Scope
The pharmacy information systems market is segmented on the basis of type, component, deployment model and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Inpatient Pharmacy Information Systems
- Outpatient Pharmacy Information Systems
Component
- Services
- Hardware
- Software
Deployment Model
- Cloud Based
- On-Premise
- Web Based
Application
- Physician Offices
- Hospital
- Pharmacy
- Paramedic Services
- Others
Pharmacy Information Systems Market Regional Analysis/Insights
The pharmacy information systems market is analysed and market size insights and trends are provided by country, type, component, deployment model and application as referenced above.
The countries covered in the pharmacy information systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the pharmacy information systems market due to technological advancements, better healthcare infrastructure, and regional government support.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Pharmacy Information Systems Market Share Analysis
The pharmacy information systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pharmacy information systems market.
Some of the major players operating in the pharmacy information systems market are:
- Carestream Health (U.S.)
- Parata Systems,LLC (U.S.)
- Swisslog Holding AG (Switzerland)
- eClinical Works (U.S.)
- Athenahealth (U.S.)
- Cerner Corporation (U.S.)
- BestRx (U.S.)
- Epic Systems (U.S.)
- eClinicalWorks (U.S.)
- Allscripts Healthcare Solutions (U.S.)
- ScriptPro LLC (U.S.)
- McKesson Corporation (U.S.)
- Parata Systems (U.S.)
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