The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s pharmacy inventory management software solutions and cabinets market report forecasts the pharmacy inventory management software solutions and cabinets market size to grow to $7.28 Billion by 2027, with a CAGR (compound annual growth rate) of 9%.

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Pharmacy Inventory Management Software Solutions And Cabinets Market Size Forecast
The global pharmacy inventory management software solutions and cabinets market is expected to grow from $4.66 billion in 2022 to $5.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmacy inventory management software solutions and cabinets market size is expected to grow to $7.28 billion in 2027 at a CAGR of 9.0%.

North America held the largest pharmacy inventory management software solutions and cabinets market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Pharmacy Inventory Management Software Solutions And Cabinets Market Driver ­– Rise In Number Of Long-Term Care Pharmacies
According to Computertalk, a US-based pharmacist publication company, approximately 14 million Americans would require long-term care in 2020, but only 3 million beds would be available. As a result, the growing number of long-term care (LTC) pharmacies is driving the market for pharmacy inventory management software solutions and cabinets.

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Key Pharmacy Inventory Management Software Solutions And Cabinets Market Trend – Technological Advancement
The software solution and cabinet market. Major companies in the pharmacy inventory management software solutions and cabinets sector are implementing new technological solutions to strengthen their positions. Palex Medical, a Spanish company specialising in healthcare equipment and advanced hospital solutions, will, for example, launch a new generation Omnicell Medimat robot for dispensing medications to outpatients in October 2021. The Medimat solution makes the transition from manual to automated processes simple, seamless, and rewarding.

Pharmacy Inventory Management Software Solutions And Cabinets Market Segment
1) By Product: Decentralized Dispensing Systems, Centralized Dispensing Systems
2) By End-Use: Independent Pharmacies, Hospital Pharmacies, Long-Term Care Centers

Pharmacy Inventory Management Software Solutions And Cabinets Market Major Players and Strategies
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.

Omnicell Inc., a healthcare technology company based in the United States, paid $100 million for ReCept Holdings Inc. in December 2021. Omnicell Inc. expands its advanced services portfolio with this acquisition to address the growing and complex specialty pharmacy market, while ReCept maximises its benefits by gaining a broader infrastructure to deliver value to pharmacy partners. ReCept Holdings Inc. is a specialty healthcare service provider based in the United States.

The Pharmacy Inventory Management Software Solutions And Cabinets Global Market Report 2023  covers regional data on pharmacy inventory management software solutions and cabinets market size, pharmacy inventory management software solutions and cabinets market trends and drivers, opportunities, strategies, and pharmacy inventory management software solutions and cabinets market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Pharmacy inventory management software solutions and cabinets refer to the practise of successfully managing a pharmacy’s inventory, in which a method or system assists the manager or owner in lowering expenses, improving operational effectiveness, and minimising overstocking and lost opportunity. Pharmacy inventory management software that includes a powerfully integrated inventory management and ordering system improves business efficiency and increases pharmacy profits significantly.

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