Pharmacy Inventory Management Software Solutions and Cabinets Market Insights: In-Depth Look at Growth Trends, Market Size, and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Pharmacy Inventory Management Software Solutions and Cabinets Market?
The growth in long-term care (LTC) pharmacies is expected to boost the pharmacy inventory management software solutions and cabinets market. The rise in demand for long-term care services has led to more LTC pharmacies, which handle the medication needs of elderly patients with complex conditions. For example, in October 2023, Milliman Inc. projected 1,282 LTC pharmacies in operation by 2023. This growth in LTC pharmacies will drive the demand for pharmacy inventory management solutions.
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How Will the Growth Rate of thePharmacy Inventory Management Software Solutions and Cabinets Market Impact Industry Trends by 2034?
The pharmacy inventory management software solutions and cabinets market has grown rapidly in recent years. It will increase from $5.84 billion in 2024 to $6.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.0%. The growth is attributed to the adoption of electronic health records (EHR), the complexity of pharmaceutical supply chains, regulatory requirements, and the growing number of pharmacies.
The pharmacy inventory management software and cabinets market is projected to grow steadily, reaching $9.33 billion by 2029 at a CAGR of 9.8%. Growth is driven by the demand for real-time data, patient safety, cloud-based solutions, specialty pharmacy expansion, and automation in healthcare. Key trends include RFID technology, robotics in pharmacy operations, mobile management apps, sustainability efforts, and centralized inventory models.
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What Are the Key Market Innovations in thePharmacy Inventory Management Software Solutions and Cabinets Market Over the Coming Years?
Companies in the pharmacy inventory management software and cabinets market are developing cloud-based platforms to enhance operational efficiency, data visibility, and streamline processes such as procurement, inventory, and logistics in healthcare organizations. For example, in March 2024, United Parcel Service (UPS) launched UPS Supply Chain Symphony, a cloud-based platform designed to improve healthcare supply chain management. It integrates logistics components into a single system, enabling users to monitor warehouse data, shipment details, and inventory levels in real-time.
Who Are the Top Companies Driving Innovation and Growth in thePharmacy Inventory Management Software Solutions and Cabinets Market?
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.
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Which Key Market Segments Comprise the Pharmacy Inventory Management Software Solutions and Cabinets Market and Drive Its Revenue Growth?
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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Which Regions Are Emerging as Leaders in the Pharmacy Inventory Management Software Solutions and Cabinets Market?
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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