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  • Global Pharmacy Management System Market Projected to Grow at a CAGR of 10.93% During 2017-2021

    (I-SoftwareNews.Com, May 17, 2017 ) Pharmacy management system helps to improve and automate every major pharmacy process. Developed for ease-of-use, the solution features accessibility in just a click, thereby, increasing the speed of transaction processing and profitability. The pharmacy software enables easy processing of new prescriptions and keeps a track on the stock of drugs available at the pharmacy and the physician. Additionally, it manages purchase orders, tracks the inventory requirement efficiently, maintains the entire supply chain, and the drug order maintenance. It upholds the purchase indents, quotation entry, stock audit, and connectivity with retail store.

    Technavios analysts forecast the global pharmacy management systems market to grow at a CAGR of 10.93% during the period 2017-2021.

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    Pharmacies need to streamline their workflow to provide better and efficient care to their customers and adopt management systems that are user friendly and allow easy integrating with ERP. Consequently, the pharmacy management system providers aid the pharmacies with an efficient and automated process that will enable users to customize and streamline their workflow with a range of functions and features that will improve efficiency, safety, and profitability and enable pharmacies to gain a competitive advantage in the market and provide better care.

    The market research report identifies the introduction of new features in the pharmacy management systems as one of the primary trends behind the growth of this market. Vendors are strictly competing by innovating their products with new features such as touchscreen system, productivity tools, and many more to increase efficiency, allow easy navigation, and be more user friendly which simplifies searches and processes information faster. The productivity tools include eligibility checking, price updates, prior authorization, prescription monitoring program reporting, clinical updates with drug images and prescriber updates, imprints, and remote backup. This introduction of new features will induce more pharmacies to purchase pharmacy management systems, fueling market growth.

    The market is divided into the following segments based on geography:

    Technavio's report, Global Pharmacy Management Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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    Key vendors
    Epicor Software
    Cerner Corporation
    McKesson Corporation
    Other prominent vendors
    ACG Infotech
    Clanwilliam Health
    Foundation Systems
    Health Business Systems
    Liberty Software
    LS Retail
    Mobile MedSoft
    Panama Technologies
    Safe Care Technologies

    Market driver
    Adherence to compliance of pharmaceutical industry.
    For a full, detailed list, view our report

    Market challenge
    Selection of vendors according to specific needs.
    For a full, detailed list, view our report

    Market trend
    Introduction of new features in the pharmacy management system.
    For a full, detailed list, view our report

    Key questions answered in this report
    What will the market size be in 2021 and what will the growth rate be?
    What are the key market trends?
    What is driving this market?
    What are the challenges to market growth?
    Who are the key vendors in this market space?
    What are the market opportunities and threats faced by the key vendors?
    What are the strengths and weaknesses of the key vendors?

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    Source: EmailWire.Com


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