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The pharmacy inventory management software solutions and cabinets market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!

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The Pharmacy Inventory Management Software Solutions and Cabinets Market Size In 2022 And Forecast

The global pharmacy inventory management software solutions and cabinets market is expected to grow from $4.19 billion in 2021 to $4.64 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The global pharmacy inventory management software solutions and cabinets market is expected to reach $6.48 billion in 2026 at a CAGR of 8.7%.

The pharmacy inventory management software solutions and cabinets market consists of sales of pharmacy inventory management software solutions by entities (organizations, sole proprietors, and partnerships) that are used in inventory management to reduce costs and improve operational efficiency.

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The Rising Number Of Long-Term Care Pharmacies Is Driving The Growth Of The Pharmacy Inventory Management Software Solutions and Cabinets Market

For instance, according to a report by Computertalk, a US-based pharmacist publication company, in 2020, about 14 million Americans needed long-term care, and on the contrary, there were only 3 million beds in facilities. As a result, the increasing number of long-term care (LTC) pharmacies is driving the pharmacy inventory management software solutions and cabinets market.

Competitive Landscape And The Regional Analysis Of The Pharmacy Inventory Management Software Solutions and Cabinets Market

Major players in the pharmacy inventory management software solutions and cabinets market are ARxIUM, Becton Dickinson and Company (BD), Clanwilliam Health, DATASCAN (DCS Pharmacy Inc.), Epicor Software Corporation, GlobeMed Ltd, Health Business Systems Inc, Logic ERP Solutions Pvt Ltd, Liberty Software Inc, JVM Co. Ltd., McKesson Corporation, Omnicell Inc, Oracle, Supplylogix LLC, and Talyst LLC.

Additionally, as per TBRC’s research – North America was the largest region in the pharmacy inventory management software solutions and cabinets market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Pharmacy Inventory Management Software Solutions and Cabinets Global Market Report 2022  covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmacy inventory management software solutions and cabinets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the pharmacy inventory management software solutions and cabinets market.

Technological Advancement – A Key Trend In The Pharmacy Inventory Management Software Solutions and Cabinets Market

Major companies operating in the pharmacy inventory management software solutions and cabinets sector are adopting new technological solutions to reinforce their position.

Pharmacy Inventory Management Software Solutions and Cabinets Market Segmentation By The Business Research Company

1) By Product: Decentralized Dispensing Systems, Centralized Dispensing Systems

2) By End-Use: Independent Pharmacies, Hospital Pharmacies, Long-Term Care Centers

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