Market Size of United States Pharmacy Management System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.38 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Pharmacy Management System Market Analysis
The US Pharmacy Management System Market is expected to witness a CAGR of 9.38% during the forecast period. The ongoing innovations, the launch of automated dispensing systems, and the burden on pharmacists due to the increasing number of prescriptions are expected to drive market growth.
- The pharmaceutical management system (PMS) platform helps pharmacists with drug regulation and manages various stakeholders involved in the value chain. PMS allows pharmacists to provide efficient, professional, and personalized care (based on the patient's requirements) and streamline the workflow by bridging the communication gap, providing legitimate drugs, and reducing the incidences of drug counterfeits.
- The pharmacy management systems enable the pharmacist to provide quality service, with subsequent implications for patient care. PMS manages the pharmaceutical inventory and selects suitable medicine for the illness mentioned to the pharmacist.
- According to the National Community Pharmacists Association's latest publication, independent community pharmacies account for 34% of the market share in the United States. In addition, according to the National Community Pharmacists Association (NCPA), there were 22,500 independent community pharmacies last year.
- Moreover, the report suggested that independent community pharmacies offered various services. For instance, nearly 79% of the respondents provided medication synchronization services, 73% provided medication therapy management, 84% provided flu immunizations, 80% offered non-flu immunizations, and 53% performed blood pressure monitoring.
- Due to the outbreak of COVID-19, the global supply chain and demand for multiple medical supplies were majorly disrupted. The pharmacy management system witnessed a staggering growth rate until 2020. With the rising concerns over the availability of chronic and general medicines, the demand is expected to grow further as various players are investing and collaborating to cater to their requirements.
