Global Pharmacy Information System Market Analysis, Drivers, Restraints, Opportunities, Trends, and Growth Forecast to 2027

Global Pharmacy Information System Market Overview:

“The global Pharmacy Information System Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Pharmacy information systems (PIS) are computer systems that are used by pharmacy departments in hospitals. These systems are complex in nature and are specifically designed to meet each and every need of the pharmacy department.

Moreover, through the use of pharmacy information systems, pharmacists can supervise and monitor medication used in the hospital. Furthermore, tasks such as inventory management, pricing, billing, and medication administration can be done with the help of pharmacy information systems (PIS).

Increasing number of venture capital investments into pharmacy management systems is a key driver for growth of global pharmacy information system market. Government funding, technological advancements and increase in adoption of automation technologies are also major drivers for growth of global pharmacy information system market.

However, high cost of implementation is a primary restraining factor for the growth of global pharmacy information system market. Limited number of end users, lack of proper qualified personnel for operating pharmacy information systems and problems caused due to hardware failures are all major restraints for growth of the global pharmacy information system market.

Increase in cloud based computing and excessive R&D by major players in emerging economies will provide opportunity for growth of the global information system market.

North America held the largest share of the global pharmacy information systems market, owing to increase in adoption of pharmacy information systems by end users and growth of cloud based computing. Europe held the second largest market share of the global pharmacy information systems market followed by Asia Pacific.

Global Pharmacy Information System Market Segmentation:

Global pharmacy information system market segmentation by type:

• Inpatient pharmacy information system
• Outpatient pharmacy information system

Global pharmacy information system market segmentation by component:

• Pharmacy information systems for Services
• Pharmacy information systems for Software
• Pharmacy information systems Hardware

Global pharmacy information system market segmentation by deployment:

• Web-Based pharmacy information systems
• On-Premise pharmacy information systems
• Cloud-Based pharmacy information systems

Global pharmacy information system market segmentation by end user:

• Pharmacy information system for Hospitals
• Pharmacy information system for Office-Based Physicians
• Pharmacy information system for Emergency Healthcare Service Providers

Global pharmacy information system market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa