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.
Browse
Details of Report @ https://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.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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