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Pharmacy Inventory Management Software Solutions and Cabinets Market Worth $7.16 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, October 9, 2018 /PRNewswire/ --

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.

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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 full research report with TOC on "Pharmacy Inventory Management Software Solutions and Cabinets Market Size, Share & Trends Analysis Report By End Use, By Mode of Operation (Centralized, Decentralized), By Region, And Segment Forecasts, 2018 - 2025" at: 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.

Browse related reports by Grand View Research: 

  • Veterinary Software Market - The global veterinary software market size was valued at USD 322.8 million in 2016 and is expected to grow with a CAGR of 8.9% during the forecast period.
  • ePharmacy Market - The global ePharmacy market size was valued at USD 33.03 billion in 2016 and is projected to grow at a CAGR of 14.8% during the forecast period.
  • mHealth App Market - The mHealth app market size was valued at USD 4.19 billion in 2016 and is projected to grow at a CAGR of 44.2% over the forecast period.
  • Healthcare CRM Market - The global healthcare CRM market size was valued at USD 7.7 billion in 2016 and is expected to grow at a CAGR of 9.1% over the forecast period. 

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
      • Software Solutions
      • Cabinets
    • Hospital pharmacies
      • Software Solutions
      • Cabinets
    • Long-term care centers
      • Software Solutions
      • Cabinets
  • Pharmacy Inventory Management Software Solutions and Cabinets Mode of Operation Outlook (Revenue, USD Million, 2014 - 2025) 
    • Centralized systems
      • Software Solutions
      • Cabinets
    • Decentralized systems
      • Software Solutions
      • Cabinets
  • Pharmacy Inventory Management Software Solutions and Cabinets Regional Outlook (Revenue, USD Million, 2014 - 2025) 
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K
      • Germany
    • Asia-Pacific
      • China
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • Middle East Africa
      • South Africa

Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.

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.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]

Web: https://www.grandviewresearch.com

SOURCE Grand View Research, Inc.

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