Key Players in the Global Inpatient Pharmacy Information System (PIS) Market are Cerner Corporation, Allscripts, Epic Systems, Athenahealth, Practice Fusion, Inc., NextGen Healthcare Information Systems, LLC
(PRWEB) November 12, 2014
The Global Inpatient Pharmacy Information System (PIS) Market report defines and segments this market with analysis and forecast of revenue. The global inpatient PIS market is expected to reach $2,587.0 million by 2018 and is estimated to grow at a CAGR of 7.2% from 2013 to 2018.
Browse through the TOC of the Global Inpatient Patient Information System (PIS) Market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation of this market, and is supported by various tables and figures.
An inpatient PIS system assists in patient care by keeping track of medication, drug interactions, drug allergies, and other medication-related complications of a patient admitted in a hospital. The growing need to integrate healthcare systems, increased return on investment, growing expenditure on healthcare IT, increased number of healthcare equipment manufacturers, incentive schemes by governments, presence of various care organizations, and increased use of healthcare IT will fuel the growth of the global inpatient PIS market. However, the high cost of healthcare IT, increased maintenance cost of equipment and services, and limited investments in healthcare IT, along with interoperability issues and shortage of healthcare professionals, are the major factors restraining the growth of this market. An array of opportunities in this market is presented by a shift in focus towards patient-centric systems, enhanced outsourcing, emerging markets in developing countries, and advanced patient care systems.
North American inpatient PIS market in is expected to grow at a CAGR of about 7.5% from 2013 to 2018. The region held the largest market share in the global market in 2013, and this trend is expected to continue up to 2018. The increased investments and initiatives taken by government to improve patient care are the key factors that are likely to drive the market. However, fragmented healthcare IT and high costs involved will restrain the growth of inpatient PIS market in North America. Some of the key players in this market in North America include Allscripts, Cerner Corporation, and Epic Systems.
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The European inpatient PIS market accounts for the second-largest market share globally, after North America. It is expected to grow at a CAGR of 6.6% between 2013 and 2018. The increased demand for healthcare IT and growth in ROI along with improved patient care are the key factors that are likely to drive the market. However, low investments and high maintenance cost of healthcare IT systems and software will restrain the growth of the inpatient PIS market in Europe. The major countries covered in this region include the U.K, Germany, and France.
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The inpatient PIS market in Asia is expected to develop at a faster pace, growing at a CAGR of about 7.5% to reach $329.0 million in 2018. The growing expenditure in healthcare IT and its cost benefits along with an increase in the number of healthcare equipment manufacturers are the key factors that are likely to drive the market. However, interoperability issues of products from different suppliers and shortage of healthcare IT professionals will restrain the growth of the inpatient PIS market in Asia. The major countries included in this region are China, Japan, and India.
The global inpatient PIS market is segmented on the basis of its types, applications, deployment, components, and end user. The inpatient PIS market, by type, is segmented into integrated and standalone. By application it is further segmented into clinical guidelines, clinical reminders, drug allergy alerts, drug dosing support, drug-drug interactions, and other applications. The market by deployment is categorized into on-premise, web-based, and cloud-based, while the market by component comprises hardware, software, and services. On the basis of geography, the major regions analyzed in the report are North America, Europe, and Asia. The end-user sub-segments are office-based physicians, hospitals, emergency healthcare service providers, nurses, and other end users.
This report also includes the market share, value chain analyses, and market metrics such as drivers, restraints and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in the market including major companies of the market.
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EUROPEAN INPATIENT PHARMACY INFORMATION SYSTEM MARKET
The European in-patient pharmacy information system (PIS) market is growing primarily due to the rising demand for better healthcare infrastructure. Several multinational companies are present in this market with a wide range of products and services. The CAGR for this market is projected to be 6.6% between 2013 and 2018. The study highlights various aspects of this market, right from the growth factors to the market and product development strategies adopted by the companies.
The in-patient PIS is used for several pharmacy operations such as patient data management, inventory management, audit management, prescription management, and several other routine and ad-hoc operations. PIS offer several advantages to the healthcare professionals and administrative staff.
With the advent of these systems, it became easier for the staff and healthcare professionals to refer to a patient’s medical history. The data related to a patient can be easily shared with other applications and systems as well. Even the administrative staff in a pharmacy is benefited by this system, as it helps in inventory management and tracking loss or theft of drugs. The quantity of drugs procured by a pharmacy as well as consumption pattern can be easily tracked, thus making it easier to plan and maintain inventory as per the consumption trends.
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