About Medication Management Software
The global medication management software market is expected to rise during the forecasted year due to the growing pharmaceutical industry and automation in every sector around the world. The medication management software simplifies the management of pharmacies and enables clearer communications between the staff working in the pharmacies and GPs resulting in medication errors and improving quality care and safety. The software takes lead on incoming and outgoing orders, compounding, prescription processing, inventory control, etc along with the operational framework for the inpatient pharmacy.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Medication Management Software market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Medication Management Software Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Salesforce Inc. (United States), Telstra Health (Australia), Swisslog Healthcare (Switzerland), Nexus AG (Germany), Rcopia (DrFirst) (United States), Omnicell (United States), LogicStream Health Inc. (United States), PDX, Inc (United States), Talyst, LLC (United States) and Pharmazam LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Mediware Information Systems (United States), GoFrugal Technologies (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Medication Management Software market by , Application (Residential Care, Hospital Pharmacy, Clinics and Other) and Region.
On the basis of geography, the market of Medication Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Desktop will boost the Medication Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Medication Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Prescription Processing will boost the Medication Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Model, the sub-segment i.e. Monthly Subscription will boost the Medication Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Web-based Networks for Medication Management Software
Market Growth Drivers:
Growing Medication and Pharmaceutical Industry and Need for Managing All the Operations Involved in Medication Sector with the Automated Systems for Efficiency
Challenges:
Frequent Upgradation in Medication Management Software and Stiff Competition in Medication Management Software Market
Restraints:
Data Safety Risks Due to Personal Information in Database
Opportunities:
Growing Government Fundings on Healthcare and Pharmaceutical Industry and Technological Advancement in Medication Management Software
Market Leaders and their expansionary development strategies
In August 2019, Pharmazam LLC launched personalized real-time medication management and healthcare systems. Their medical management system and application are expected to save lives, prevent life-threatening adverse drug reactions (ADRs), improve drug efficacy, enhance pharmaceutical care and in the end reduce the cost of medical expenses for individuals, organizations, and government across the world.
In March 2020, Swisslog Healthcare is advancing the vision of managing the full medication supply chain in hospitals and health systems with the planning and creation of a unique Meds-to-Beds program. Swisslog Healthcare is bringing its delivery manager chain of custody software together with tele pharmacy software and services from PipelineRx along with robotic technology form Savoke to execute the unique program.
Key Target Audience
Medication Management Software Developers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Hospitals and Pharmaceuticals and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.