According to the research report titled ‘Pharmacy Management System Market to 2027 - Global Analysis and Forecasts By Component; Deployment; Size and Geography‘, available with Market Study Report, global pharmacy management system market was valued at USD 5,724.82 million in 2019 and is expected to reach USD 13,985.27 million by the year 202, witnessing a y-o-y growth rate of 11.9% over the forecast period.
 

Flourishing healthcare IT sector and rising number of pharmacies worldwide are the major factors driving the growth of global pharmacy management system market. Further, government support for development of innovative pharmacy management systems, alongside presence of domestic & international players are contributing to the market growth. Growing acceptance of integrated solutions across the pharmacies and inflowing investments in healthcare facilities are stimulating the market outlook.
 

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Notably, pharmacy management system is a software that offers robust and user-friendly pharmacy management tools. It helps the pharmacists to undertake complex tasks like inventory management, dispensing medicines, and point of sales functions. However, factors such as business downtime, errors in data consolidation, system incompatibilities, and high costs are expected to hamper the market growth during the forecast period.
 

Based on the component, global pharmacy management system market is segmented into solutions and services. Further, the solutions segment is divided into regulatory & compliance information, purchase order management, inventory management, supply chain management, and others.
 

With respect to the deployment, the market is classified into, cloud based and on premise. As per size, the market is categorized into small & medium-sized pharmacy and large pharmacy. While regionally, pharmacy management system industry is segmented into North America, Asia Pacific, Europe, South & Central America, and Middle East & Africa.
 

Key players operating in global pharmacy management system market are General Electric Company, ACG Infotech Ltd., Clanwilliam Health, Allscripts Healthcare LLC, Omnicell Inc., Becton Dickinson & Co., Talyst LLC (Swisslog Healthcare), Cerner Corporation, McKesson Corporation, and Epicor Software Corporation.