PHARMACY MANAGEMENT SYSTEM MARKET ANALYSIS

Regional Analysis

Global Pharmacy Management System Market: Regional Insights

Based on geography, the global pharmacy management system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the rise in burden on pharmacists, increasing consumption of over-the-counter (OTC) and prescription drugs, and growing adoption of pharmacy management system in the region. For instance, according to the American Society of Health-System Pharmacists (ASHP), the total drug spending in the U.S. increased by around 8% in 2021, indicating the high demand for prescription drugs in the country. Moreover, according to the Health Policy Institute, in 2021, over 131 million people in the U.S. (66% of adults) consumed prescription drugs.

Asia Pacific is also expected to witness significant growth in the global pharmacy management system market owing to the presence of a large patient pool, increase in the number of hospitals, increasing consumption of OTC and prescription drugs, and outbreak of COVID-19 in the region. For instance, in Uttar Pradesh (India), the number of drug stores saw a considerable rise of over 27% between 2019 and 2022 (till September 2022). Around 21,374 new retail drug stores opened during the pandemic and the number of wholesale pharmacies rose by around 16,371, according to Food Safety and Drug Administration (FSDA).