Market Snapshot:
Pharmacy Information Systems is digital software, a subset of hospital information system which provides related information to the hospital teaching. These systems assist’s pharmacists to safely manage the medication process. Moreover, it supports various programs such as the distribution and management of drugs. PIS is a system which stores data related to all the medicines within pharmacies and serves a safe and effective provision of pharmaceuticals drugs. One of the major factors that are driving the market for PIS is that it enables pharmacists to make correction free decision towards the patients.
Segment Analysis
AMA Research have segmented the market of Global Pharmacy Information Systems market by Type, Application and Region. On the basis of Type, Cloud based are dominating the market in the year 2021
On the basis of geography, the market of Pharmacy Information Systems 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). North America region held largest market share in the year 2021.
Market Trend
Adoption of Cloud-Based PIS across Various Segments of the Healthcare Sector
Market Drivers
Increasing Number of Healthcare Instrument Manufacturers, Rising Number of Hospitals and Pharmaceuticals Globally and Increase in Demand of People for Better Quality of Healthcare Services
Opportunities
Growing Investments Made By the Government Bodies and VCs in both Developing and Developing Nations and Rising Popularity of E-Prescription is Expected to Create Greater Opportunities Worldwide
Restraints
- High Cost Associated With the Implementation of These PIS
- Issues Related to the Complex Technological Guidelines and Privacy & Data Breach of These Systems
In addition to the aforementioned factor, Increasing Number of Healthcare Instrument Manufacturers
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market is highly fragmented with competitors entering various segments. Hence key players are constantly innovating and incorporating new technologies to gain a competitive edge and provide better service than their competitors. Healthcare industry is collaborating with the IT industry to improve the products and services to simulate the market growth
The key Players profiled in the study are Athenahealth (United States), Cerner Corporation (United States), BestRx (United States), Epic Systems (United States), eClinicalWorks (United States), Allscripts Healthcare Solutions (United States), ScriptPro LLC (United States), McKesson Corporation (United States), Swisslog (Switzerland) and Parata Systems (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.