San Francisco,17
October 2018: The global pharmacy inventory management software solutions and cabinets
market size is expected to reach USD 7.16
billion by 2025, according to a new report by Grand View Research, Inc.,
exhibiting an 8.6% CAGR during the forecast period. Increasing number of
dispensed prescriptions, growing adoption of pharmacy automation systems, and
rising incidence of medication errors are some of the key drivers for this
market. Technological advancements in automated dispensing cabinets design are
also expected to positively impact market growth in the coming years.
Rising number of retail,
mail order, and long-term care (LTC) pharmacies propel demand for inventory
management software and systems in order to dispense high volume of
medications. Rising pressure by governments to minimize medication costs is
further expected to drive demand for these software and cabinets, as they aid
in reduction of excess inventory costs. Increasing demand for efficient
workflow in hospitals and pharmacies is also contributing toward market growth.
Demand for automated
dispensing cabinets is increasing in retail pharmacies owing to increasing
workload on pharmacists, coupled with surging need for effective patient
counselling. In addition, rising government initiatives towards improvement in
healthcare infrastructure and growing healthcare expenditure in developing
countries are positively influencing market growth.
Access Research Report
of Pharmacy Inventory
Management Software Solutions and Cabinets Market@ www.grandviewresearch.com/industry-analysis/pharmacy-inventory-management-software-solutions-cabinets-market
Further key findings from the report suggest:
· Pharmacy inventory management
systems/cabinets in retail pharmacies emerged as the leading segment in terms
of revenue in 2017 owing to rising number of retail pharmacies and growing
number of prescriptions
· By mode of operation, decentralized
systems/cabinets accounted for the largest revenue share in 2017 owing to
rising incidence of medication errors and increasing number of dispensed
prescriptions
· In terms of geography, North America
dominated the global market in 2017 in terms of revenue and Asia Pacific is
expected to register the highest growth rate over the forecast period
· Omnicell, Inc.; BD; Talyst, LLC; and ARxIUM
are the major players operating in the market. This market is dominated by the
presence of both multinational companies and small players.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has
segmented the global pharmacy inventory management software solutions and
cabinets market on the basis of end use, mode of operation, and region:
Pharmacy Inventory Management Software Solutions and
Cabinets End-use Outlook (Revenue, USD Million, 2014 - 2025)
·
Independent pharmacies
o
Software Solutions
o
Cabinets
·
Hospital pharmacies
o
Software Solutions
o
Cabinets
·
Long-term care centers
o
Software Solutions
o
Cabinets
Pharmacy Inventory Management Software Solutions and
Cabinets Mode of Operation Outlook (Revenue, USD Million, 2014 - 2025)
·
Centralized systems
o
Software Solutions
o
Cabinets
·
Decentralized systems
o
Software Solutions
o
Cabinets
Pharmacy Inventory Management Software Solutions and
Cabinets Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K
o
Germany
·
Asia-Pacific
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East Africa
o
South Africa
Access Press Release of
Pharmacy Inventory Management Software Solutions and Cabinets Market@ www.grandviewresearch.com/press-release/global-pharmacy-inventory-management-software-solutions-cabinets-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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