The global pharmacy information systems market is anticipated to grow at a modest CAGR of around 10.4% during the forecast period (2024-2031). The adoption of cloud-based PIS software in the healthcare sector is the major factor driving the growth of the market. These computer-based systems are majorly used by the healthcare sectors especially pharmacy departments so that they can supervise and keep a record of medication. The increase in the number of pharmacies due to the rising healthcare sector, and the increase in prescriptions by which the burden on pharmacists increase, thus the need for advanced PIS software arises. The rising investment in the pharmacy management system is also the reason behind the large adoption of this software. Government funding, technological advancements, and the increase in the adoption of automation technologies are also major drivers for the growth of the global pharmacy information system market. Additionally, the adoption of PIS by patients to monitor their medication process and data related to the treatment is gaining popularity, due to which the sales of these products are expected to increase.
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The new PIS software launches and new developments by market players are expected to increase the market growth during the forecast period. For instance, in March 2021, to support oncology pharmacies, a pharmacy management solution software ScriptPAS has been launched by the McKesson company which is powered by Biologics by McKesson specialty pharmacy. The software is free to use and assists Medically Integrated Dispensing (MID)-equipped practices to provide quicker access by eliminating barriers that delay treatment. Further, in March 2021, Athenahealth Inc launched a telehealth insights dashboard. The dashboard will support providers, healthcare leaders and patients examine telehealth adoption rates by specialty area. Moreover, in May 2020, Epic Systems launched a new telehealth service in collaboration with Twilio. The tool helped healthcare professionals to launch video visits while also updating clinical documentation and reviewing patient histories in the EHR workflow. Considering these new developments in PIS software, considerable growth can be expected during the forecast period.
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Market Coverage
- Segment Covered-
o By Deployment
o By Type
o By Components
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Allscripts Healthcare, LLC., Parata Systems, LLC, athenahealth, Inc, Carestream Health, Cerner Corp., eClinicalWorks, LLC, Epic Systems Corp., Mckesson Corp., Swisslog Holding AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Pharmacy Information Systems Market Report by Segment
By Deployment
- On-Premises
- Cloud-Based
By Type
- Out Patients
- In Patients
By Components
- Hardware
- Software & Services
By End-User
- Physician Offices
- Hospital & Pharmacy
- Paramedic Services
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