Top Growth Trends in the Pharmacy Inventory Management Software Solutions and Cabinets Market: Key Insights and Opportunities for 2025-2034
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How has the pharmacy inventory management software solutions and cabinets market grown over the years?
The market for pharmacy inventory management software solutions and cabinets has seen accelerated expansion in recent times. Expansion from $5.84 billion in 2024 to $6.43 billion in 2025 will be at a compound annual growth rate (CAGR) of 10.0%. The historic period’s growth is attributable to the adoption of electronic health records (EHR), enhanced complexity in pharmaceutical supply chains, regulatory compliance demands, rising pharmacy numbers, and focus on cost-effectiveness in the healthcare sector.
What Is the forecasted market size and growth rate for the pharmacy inventory management software solutions and cabinets market?
Expectations are high for the notable expansion of the pharmacy inventory management software solutions and cabinets market in the upcoming years, with projections pointing to an increase to a size of $9.33 billion in 2029, showcasing a compound annual growth rate (CAGR) of 9.8%. This surge over the forecast period can be linked to the escalating need for real-time data and analytics, a heightened emphasis on patient safety, the increasing implementation of cloud-based inventory management solutions, the proliferation of specialty pharmacies, and a growing demand for automation within the healthcare sector. Major trends to be observed throughout the forecast period are the integration of RFID technology for inventory tracking, the application of automation and robotics in pharmacy operations, the emergence of mobile pharmacy management applications, sustainability drives within inventory management, and the move towards collaborative and centralized inventory models.
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What are the major factors driving growth in the pharmacy inventory management software solutions and cabinets market?
The growth of the market for pharmacy inventory management software solutions and cabinets is anticipated to be fueled by the expanding number of long-term care (LTC) pharmacies. Such pharmacies cater to the medicinal and clinical requirements of older patients with complicated health cases. The surge in the demand for long-term care has given rise to more LTC pharmacies. For instance, 1,282 pharmacies are projected to be classified as LTC pharmacies that provide services to long-term care facilities in October 2023, as per US insurance firm Milliman, Inc. On top of that, Medicaid and Medicare jointly account for over 60% of total spending on LTC services. Consequently, the swelling number of LTC pharmacies propels the market for pharmacy inventory management software solutions and cabinets.
What key areas define the segmentation of the global pharmacy inventory management software solutions and cabinets Market?
The pharmacy inventory management software solutions and cabinets market covered in this report is segmented –
1) By Product: Decentralized Dispensing Systems, Centralized Dispensing Systems
2) By End-Use: Independent Pharmacies, Hospital Pharmacies, Long-Term Care Centers
Subsegments:
1) By Decentralized Dispensing Systems: Automated Dispensing Cabinets (ADCs), Point-Of-Care Dispensing Systems, Medication Cart Solutions
2) By Centralized Dispensing Systems: Central Pharmacy Dispensing Systems, Robotic Dispensing Systems, Pharmacy Workflow Management Systems
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What are the top market players propelling the growth of the pharmacy inventory management software solutions and cabinets industry?
Major companies operating in the pharmacy inventory management software solutions and cabinets market include ARxIUM, Becton Dickinson and Company, Clanwilliam IRL, DATASCAN-DCS Pharmacy Inc., Epicor Software Corporation, GlobeMed Ltd., Health Business Systems Inc., Logic ERP Solutions Pvt Ltd., Liberty Software Inc., McKesson Corporation, Omnicell Inc., Oracle Corporation, Supplylogix LLC, Talyst LLC, Swisslog Holding AG, Capsa Healthcare, ScriptPro LLC, Accu-Chart Plus Healthcare Systems Inc., Cerner Corporation, GE Healthcare Technolgies Inc., Kirby Lester LLC, Medacist Solutions Group LLC, Parata Systems LLC, AbacusRx Inc., Cardinal Health Inc.
What are the key trends shaping the future of the pharmacy inventory management software solutions and cabinets market?
Leading businesses in the pharmacy inventory management software solutions and cabinets market are focusing on creating advanced products, such as cloud-based platforms to augment operational proficiency, enrich real-time data visibility, and simplify the processes of procurement, inventory, and logistics in healthcare organizations. Remote servers accessed over the internet, as opposed to local or on-premise servers, run these cloud-based platforms. For example, in March 2024, United Parcel Service (UPS) Inc., a shipping & receiving and supply chain management firm based in the US, introduced UPS Supply Chain Symphony for UPS Healthcare, inclusive of pharmacy operations. This cloud-based platform was developed to enhance healthcare supply chain management by unifying diverse logistics elements into one platform. The tool gives users the ability to manage and visualize their warehouse and transportation data effectively, offering insights that can refine supply chain operations. It provides the feature to track shipment details from start to end, as well as offering on-demand reports that give detailed information about UPS shipments, warehouse status, and inventory levels.
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What regions are dominating the pharmacy inventory management software solutions and cabinets market growth?
North America was the largest region in the pharmacy inventory management software solutions and cabinets market in 2024. Asia-Pacific is expected to be the fastest growing region during the forecast period. The regions covered in the pharmacy inventory management software solutions and cabinets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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