Pharmacy Information Systems Market
Global Pharmacy Information Systems Market Size, Share & Trends Analysis Report By Deployment (On-Premises and Cloud-Based) By Type (Out-Patients, and In-Patients) By Components (Hardware and Software & Services) By End-User (Physician Offices, Hospital & Pharmacy, and Paramedic Services) Forecast, 2021-2027
The global market for pharmacy information systems is projected to have a considerable CAGR of around 10.4% during the forecast period. The pharmacy information system is used to manage, and record the data related to the patient’s medication and supply of drugs and other essentials related to pharmacy. The data relating to the diagnosis of any disease is also stored for the future through PIS. In addition, it enables in managing patient profiles, processing and billing, workflow, accounts receivables, and inventory. One of the key features of pharmacy information systems is, the information regarding the shortage of medicine and patient’s medication can be easily generated and managed by the pharmacist in a digital format. The factors attributing to the growth of PIS includes an increase in demand of people for the better quality of healthcare services and growing adoption of cloud-based pharmacy information systems across various segments of the healthcare sector.
The increase in healthcare instruments manufacturers worldwide, rising funding, and technological advancements are also the factors that are contributing to the growth of the global PIS market. However, high initial cost, complex technological guidelines of pharmacy information systems software, scarcity of skilled professionals, and privacy & data breach are major restraining factors that affect the growth of this market. An increase in funding by the government and major players in drugs and medication R&D in emerging nations are the major opportunities for the pharmacy information systems market.
COVID-19 Impact on global Pharmacy Information Systems Market
The global pharmacy information systems market is positively impacted by the COVID-19 pandemic. Due to the growth in patients during the pandemic, the demand for effective healthcare management systems is increased, also to manage and record the data related to medicine supply and coming orders, the use and adoption of cloud-based pharmacy information systems are increased. Additionally, it has witnessed that during the pandemic, most of the patients were connecting to their consultants for getting the enquiries and queries related to the medications through these systems. Hence, the overall growth in the PIS market has increased.
Segmental Outlook
The global pharmacy information systems market is segmented based on deployment, type, components, and end-user. Based on deployment, the market is sub-segmented into on-premises and cloud-based. Based on type, the market is categorized into outpatients and inpatients. By component, the market is classified as hardware and software, & services. Similarly, based on end-users, it is divided into physician offices, hospital & pharmacy, and paramedic services. Among these, the PIS in the hospital segment is expected to be the fastest growing during the forecast period. The adoption of PIS in hospital pharmacy departments to record a large array of data, and to reduce the prescription burden from pharmacy professionals is gaining popularity, thus increases the demands for such type of software’s, that will drive the market growth.
Global Pharmacy Information Systems Market Share by Deployment Type, 2020 (%)
Cloud-Based Pharmacy Information Systems holds the largest market share in the market
Based on deployment type, the cloud-based PIS held the largest share in the market in 2020, and it is further projected to grow at significant CAGR during the forecast period. The adoption of cloud-based pharmacy information systems is increasing in various end-users such as physician offices, hospital & pharmacy, and paramedic services. These systems support large pharmacies to keep a record of the data related to patient’s diagnosis and inventory, also this software’s enables pharmacist to connect globally to other vendors as well as patients from their current locations. Besides, information related to the prescriptions, medicines, can be shared among all users of the systems without any hurdle. The adoption of cloud computing in the healthcare field not only will make the healthcare system more efficient but also will allow an integrated healthcare information system to be deployed. The growing healthcare sectors due to the rising patients pool and burden of prescriptions will be expected to create huge demands for cloud-based PIS during the forecast period. The market will experience growth by increasing sales and demands.
Regional Outlook
Geographically, the global pharmacy information systems market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, Asia-Pacific will show a considerable growth rate during the forecast period. The growing healthcare sectors in emerging economies such as China, Japan, India, Brazil will drive the market growth. Besides, Government support and initiative in these countries encourage the adoption of new technology such as PIS.
Global Pharmacy Information System Market Growth, by Region 2021-2027
North America Dominate the global Pharmacy Information System Market
Geographically, North America dominated the market in 2020, and it is further expected to maintain its dominance during the forecast period. The factors attributing to the growth of the market include technological advancements, better healthcare infrastructure, and government support in the region. The adoption of cloud-based pharmacy information systems is higher in North America compared to any other region due to growing healthcare sectors and patient’s pool. The presence of major market players and high expenditure by them for the technology development is the prime factor accelerating the market growth.
Market Players Outlook
The key players in the global pharmacy information system market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market are Allscripts Healthcare, LLC., Parata Systems, LLC, athenahealth, Inc, Carestream Health, Cerner Corp., eClinicalWorks, LLC, Epic Systems Corp., Mckesson Corp., Swisslog Holding AG, among others. These market players adopt different marketing strategies such as mergers & acquisitions, R&D, product launches, and geographical expansions to generated more revenue and to remain competitive in the market. For instance, In Feb 2021, Parata Systems recently launched an enhanced Website as a comprehensive pharmacy automation system to improved patient outcomes. Additionally, the new website will also help pharmacy professionals find solutions for the challenges in their specific market segments.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global pharmacy information systems market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Pharmacy Information Systems Industry
• Recovery Scenario of Global Pharmacy Information Systems Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of Covid on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Pharmacy Information Systems Market, By Deployment
5.1.1. On-Premises
5.1.2. Cloud-Based
5.2. Global Pharmacy Information Systems Market, By Type
5.2.1. Out Patients
5.2.2. In Patients
5.3. Global Pharmacy Information Systems Market, By Components
5.3.1. Hardware
5.3.2. Software& Services
5.4. Global Pharmacy Information Systems Market, By End-User
5.4.1. Physician Offices
5.4.2. Hospital & Pharmacy
5.4.3. Paramedic Services
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Russia
6.2.7. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korean
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East& Africa
7. Company Profiles
7.1. Allscripts Healthcare, LLC
7.2. Astellas Pharma Inc.
7.3. athenahealth, Inc.
7.4. Carestream Health Inc.
7.5. Cerner Corp.
7.6. eClinicalWorks, LLC
7.7. Epic Systems Corp.
7.8. HansasoftOÜ
7.9. Mckesson Corp.
7.10. Medical Information Technology, Inc.
7.11. Netsmart Technologies, Inc
7.12. Parata Systems, LLC
7.13. ScriptPro LLC
7.14. Siemens AG
7.15. Swisslog Holding AG
1. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
2. GLOBAL ON-PREMISES PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL CLOUD-BASED PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
5. GLOBAL PHARMACY INFORMATION SYSTEMS FOR OUT PATIENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL PHARMACY INFORMATION SYSTEMS FOR IN PATIENTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COMPONENTS, 2020-2027 ($ MILLION)
8. GLOBAL HARDWARE FOR PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL SOFTWARE & SERVICES PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
11. GLOBAL PHARMACY INFORMATION SYSTEMS IN PHYSICIAN OFFICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL PHARMACY INFORMATION SYSTEMS IN HOSPITAL & PHARMACY MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL PHARMACY INFORMATION SYSTEMS IN OTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL PARAMEDIC SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. NORTH AMERICAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT,2020-2027 ($ MILLION)
17. NORTH AMERICAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
18. NORTH AMERICAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COMPONENTS, 2020-2027 ($ MILLION)
19. NORTH AMERICAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
20. EUROPEAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
22. EUROPEAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
23. EUROPEAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COMPONENTS, 2020-2027 ($ MILLION)
24. EUROPEAN PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
28. ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COMPONENTS, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
30. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
31. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2020-2027 ($ MILLION)
32. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
33. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY TREATMENT, 2020-2027 ($ MILLION)
34. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL PHARMACY INFORMATION SYSTEMS MARKET, 2020-2027 (% MILLION)
2. IMPACT OF COVID-19 ON GLOBAL PHARMACY INFORMATION SYSTEMS MARKET BY SEGMENT, 2020-2027 (% MILLION)
3. RECOVERY OF GLOBAL PHARMACY INFORMATION SYSTEMS MARKET, 2020-2027 (%)
4. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET SHARE BY DEPLOYMENT,2020 VS 2027 (%)
5. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET SHARE BY TYPE, 2020 VS 2027 (%)
6. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET SHARE BY COMPONENTS, 2020 VS 2027 (%)
7. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET SHARE BY END-USERS, 2020 VS 2027 (%)
8. GLOBAL PHARMACY INFORMATION SYSTEMS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL ON-PREMISES PHARMACY INFORMATION SYSTEMS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL CLOUD-BASED PHARMACY INFORMATION SYSTEMS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL PHARMACY INFORMATION SYSTEMS FOR OUT PATIENTS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL PHARMACY INFORMATION SYSTEMS FOR IN PATIENTS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL HARDWARE IN PHARMACY INFORMATION SYSTEMS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL SOFTWARE IN PHARMACY INFORMATION SYSTEMS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL SERVICES IN PHARMACY INFORMATION SYSTEMS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
16. GLOBAL PHARMACY INFORMATION SYSTEMS IN PHYSICIAN OFFICES MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
17. GLOBAL PHARMACY INFORMATION SYSTEMS IN HOSPITAL & PHARMACY MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
18. GLOBAL PHARMACY INFORMATION SYSTEMS IN OTHERS END-USERS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
19. US PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
20. CANADA PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
21. UK PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
22. FRANCE PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
23. GERMANY PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
24. ITALY PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
25. SPAIN PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
26. REST OF EUROPE PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
27. INDIA PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
28. CHINA PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
29. JAPAN PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
30. SOUTH KOREA PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF ASIA-PACIFIC PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2020-2027 ($ MILLION)
32. REST OF THE WORLD PHARMACY INFORMATION SYSTEMS MARKET SIZE, 2021-2027($ MILLION
