Market Overview:
The Global Drug Inventory Management Software Market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based and web-based drug inventory management software by large enterprises and SMEs. North America is expected to lead the market in terms of revenue, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Drug Inventory Management Software helps pharmacies and hospitals keep track of the medications they have in stock. This software can also help manage how much of each medication is ordered, how much should be on hand at any given time, and when medications are due to expire.
Cloud Based:
Cloud-based software is a type of software that enables data to be stored and retrieved from a remote location. The technology provides various benefits such as easy access, cost efficiency, flexibility & scalability and real-time data. These benefits have increased the demand for cloud based solutions in recent years.
The global shift towards web-based applications has been occurring gradually over the past few decades due to factors such as lower maintenance costs, ease of use & accessibility.
Web Based:
The global web-based and it's usage in drug inventory management software market size was valued at USD 0.00 in 2016. The growth can be attributed to the increase in demand for cloud computing technology, which has resulted into increased adoption of web-based solutions by pharmaceutical companies and other healthcare organizations.
Application Insights:
The large enterprises segment held the largest market share in 2017. This is attributed to the presence of a large number of players in the industry with a substantial number of employees and operations across various regions. Furthermore, this segment is expected to grow at a lucrative rate over the forecast period owing to increasing demand for GDDM software from companies operating across various industries for inventory management purposes.
SMEs are projected to be one of the fastest-growing segments over the forecast period due to increasing penetration and adoption of tablets & smartphones, especially in developing countries like India, China and Brazil where internet connectivity is relatively low but growth in mobile data subscriptions has been tremendous over recent years. The growing trend indicates that small businesses can also benefit from using tablet computers which can be used for ordering products online as well as managing business operations more efficiently by obtaining real-time information about sales & inventory levels through cloud based or locally installed software solutions offered by different vendors such as Zepter International Inc.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing government initiatives, rising healthcare expenditure by governments and consumers, and growing demand for efficient inventory management solutions among other factors. For instance, in October 2016, Express Scripts Holding Co., announced that it would be providing coverage for EpiPen under the company's Medicare Part D plan with no out-of-pocket expenses required by patients or their employers.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to various factors such as improving healthcare infrastructure coupled with an increase in disposable income of consumers and businesses resulting into increased demand for pharmaceutical products & services leading towards a rise in drug sales which will drive growth of GS1DMO standards over this region’s lifespan.
Growth Factors:
- Increasing demand for better patient care and safety
- Rising number of drug recalls and need for timely inventory management
- Growing popularity of RFID technology in the healthcare sector
- Proliferation of cloud-based solutions that offer real-time tracking and visibility into inventory levels
- Emergence of big data analytics to help identify trends and optimize stock levels
Scope Of The Report
Report Attributes
Report Details
Report Title
Drug Inventory Management Software Market Research Report
By Type
Cloud Based, Web Based
By Application
Large Enterprises, SMEs
By Companies
Nuchange Pharmacy Management Solution, McKesson Connect, WinRx, PharmaTrader, SpineTrader, Pharmacy Plus, CLIN1 Pharmacy, GuardianRx, FSI, JAC, RS Software, Mukto Pharmacy Management
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
226
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Drug Inventory Management Software Market Report Segments:
The global Drug Inventory Management Software market is segmented on the basis of:
Types
Cloud Based, Web Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nuchange Pharmacy Management Solution
- McKesson Connect
- WinRx
- PharmaTrader
- SpineTrader
- Pharmacy Plus
- CLIN1 Pharmacy
- GuardianRx
- FSI
- JAC
- RS Software
- Mukto Pharmacy Management
Highlights of The Drug Inventory Management Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- Web Based
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Drug Inventory Management Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Drug inventory management software is a computer application used to manage the inventory of pharmaceuticals, medical devices, and other types of drugs. The software can track the location and status of all items in a drug store or pharmacy, help identify potential shortages or stockouts, and generate reports on drug usage.
Some of the major companies in the drug inventory management software market are Nuchange Pharmacy Management Solution, McKesson Connect, WinRx, PharmaTrader, SpineTrader, Pharmacy Plus, CLIN1 Pharmacy, GuardianRx, FSI, JAC, RS Software, Mukto Pharmacy Management.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drug Inventory Management Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Drug Inventory Management Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Drug Inventory Management Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Drug Inventory Management Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Drug Inventory Management Software Market Size & Forecast, 2018-2028
4.5.1 Drug Inventory Management Software Market Size and Y-o-Y Growth
4.5.2 Drug Inventory Management Software Market Absolute $ Opportunity
Chapter 5 Global Drug Inventory Management Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Drug Inventory Management Software Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 Web Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Drug Inventory Management Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Drug Inventory Management Software Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Drug Inventory Management Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Drug Inventory Management Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Drug Inventory Management Software Analysis and Forecast
9.1 Introduction
9.2 North America Drug Inventory Management Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Drug Inventory Management Software Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 Web Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Drug Inventory Management Software Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Drug Inventory Management Software Analysis and Forecast
10.1 Introduction
10.2 Europe Drug Inventory Management Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Drug Inventory Management Software Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 Web Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Drug Inventory Management Software Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Drug Inventory Management Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Drug Inventory Management Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Drug Inventory Management Software Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 Web Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Drug Inventory Management Software Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Drug Inventory Management Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Drug Inventory Management Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Drug Inventory Management Software Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 Web Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Drug Inventory Management Software Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Drug Inventory Management Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Drug Inventory Management Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Drug Inventory Management Software Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 Web Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Drug Inventory Management Software Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Drug Inventory Management Software Market: Competitive Dashboard
14.2 Global Drug Inventory Management Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nuchange Pharmacy Management Solution
14.3.2 McKesson Connect
14.3.3 WinRx
14.3.4 PharmaTrader
14.3.5 SpineTrader
14.3.6 Pharmacy Plus
14.3.7 CLIN1 Pharmacy
14.3.8 GuardianRx
14.3.9 FSI
14.3.10 JAC
14.3.11 RS Software
14.3.12 Mukto Pharmacy Management
