Pharmacy management system industry trends

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Pharmacy Management System Market 2020-2027
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2027
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Pharmacy Management System Market 2020-2027
Pharmacy Management System Market Share, Trends,
Growth Analysis
Market Highlights The pharmacy management system
enables pharmacists to deliver well-organized
professional as well as personalized care based
on the needs and requirements of the patients.
Tools such as eligibility checking, price
updates, prior authorization, prescription
monitoring program reporting, clinical updates
with drug images and prescriber updates,
imprints, remote backup, and many other
activities are involved in the pharmacy
management system solutions. The growth of the
global pharmacy management system industry trends
boosted by various factors such as rising
activities in terms of mergers, joint ventures,
acquisitions, partnerships, by key players
operating in the market, coupled with the
increasing number of prescriptions. For instance,
in August 2019, GE Healthcare launched a startup
collaboration program, EdisonX, which will work
with startups in India to develop solutions to
aid patient outcomes and pharmacy practices.
However, compound features such as vendor lock-in
create a dependency for pharmacists, which
complexifies the onboarding of another vendor,
which can hinder the preference of such solutions
by pharmacists. This can hamper the growth of the
market during the forecast period.
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Pharmacy Management System Market 2020-2027
Several market players currently dominate the
global pharmacy management system market. The key
players are involved in product launches and
strategic collaborations to strengthen their
market positions. For instance, in February 2019,
SRS Pharmacy Systems partnered with STRAND
Clinical Technologies to innovate clinic building
services, which aims to help pharmacies to launch
clinic services within their community. Key
Players Some of the Key Players in the
Global Pharmacy Management System
Market are Allscripts (US), Cerner Corporation
(US), Datascan (US), McKesson (US), Epicor
Software (US), GlobeMed Group (Lebanon),
ScriptPro (US), Clanwilliam Liberty Software
(US), LS Retail (Iceland), MedHOK (US), Octal IT
Solution LLP (US), Safe care Technology (UAE),
Health (Ireland), Mobile MedSoft (US), and Health
Business Systems (US). Browse Full Report
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Pharmacy Management System Market 2020-2027
Regional Analysis The market has been divided,
by region, into the Americas, Europe,
Asia-Pacific, and the Middle East Africa. The
Americas held the maximum share in the base year
2018, owing to the presence of established key
players in countries such as the US and Canada.
The pharmacy management system market in the
Americas has further been branched into North
America and Latin America, with the North
American market divided into the US and Canada.
The European pharmacy management system market
has been categorized as Western Europe and
Eastern Europe. The Western European market has
further been classified as Germany, France, the
UK, Italy, Spain, and the rest of Western Europe.
The pharmacy management system market in
Asia-Pacific has been segmented into Japan,
China, India, South Korea, Australia, and the
rest of Asia-Pacific. The pharmacy management
system market in this region is anticipated to be
the fastest-growing during the assessment period
due to the increased adoption rate of pharmacy
management software by local pharmacy facilities
in the Asian countries. The pharmacy management
system market in the Middle East Africa has
been divided into the Middle East and Africa.
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Pharmacy Management System Market 2020-2027
Segmentation The Global Pharmacy Management
System Market has been segmented based on
solution type, component, deployment mode, and
end-user. The market, based on solution type, has
been divided into pharmacy inventory management
systems, pharmacy data management systems,
pharmacy compounding software systems, pharmacy
benefits management systems, pharmacy revenue
cycle management systems, and others. The
pharmacy inventory management system segment is
likely to be the largest due to the increased
usage of such solution for the proper management
of pharmacies. The pharmacy data management
system segment is predicted to be the
fastest-growing due to the increasing awareness
about the advantages of such solutions.
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