North American Pharmacy Information System Market is Expected to grow at a CAGR of 8.1% in 2019 - New Report by MicroMarket Monitor
(PRWEB) December 08, 2014 -- Pharmacy Information System (PIS) delivers pharmacy services by collecting and storing information on medication usage. It assists in patient care by keeping track of medications, drug interactions, drug allergies, and other medication related complications. This system also enables an efficient inventory control by maintaining the record of internal inventory stock. The tracking system generates an alert when drugs are running out of stock, and later places drug orders using the electronic ordering system. This automatic procedure of placing drug orders in the right quantity comes from an approved source, thereby avoiding the occurrence of manual errors, and prevention of stock outs and surplus inventory.
The North American pharmacy information system (PIS) market report defines and segments the concerned market in North America with analysis and forecast of revenue. The market was valued at $1460 in 2013, and is anticipated to grow at a CAGR of 8.1% from 2014 to 2019.
The market research report offers a comprehensive analysis of varied market dynamics such as drivers, restraints, and upcoming opportunities. In addition, it also presents competitive landscape and company profiles of key players in the market, including major companies operating in the pharmacy information systems segment.
Browse through the TOC of the North American Pharmacy Information System Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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The cost of healthcare services are rising due to the increase in payment of healthcare insurance premiums and growing demand of healthcare services in North America. It has been identified that almost 20%-25% of the rise in cost of healthcare services is because of administrative inefficiencies. Automation of administrative services, such as implementing PIS and HER will help in reducing such elevated healthcare costs.
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The increase in demand for automatic refill and growing popularity of e-prescription will positively impact the overall pharmacy information system; as a result the PIS market is expected to lean towards a significant growth in the future.
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The market is segmented on the basis of types, deployment, component, major applications and end-user. The inpatient PIS market, by type is segmented into integrated and standalone. The market by deployment is further categorized as on-premises, web-premises, and cloud-premises, while the market by component comprises of hardware, software, and services. The application is further classified into, clinical guidelines, clinical reminders, drug allergy alerts, drug dosing support, drug-drug interactions among other applications.
Related Reports:
European Pharmacy Information System Market
The pharmacy information system is an electronic medication order management and decision-making system, which is useful, time-saving and maintains structure. Moreover, an inventory module helps manage the stock movement within the pharmacy department. The pharmacy information system streamlines and automates the day to day workflow of pharmacists and pharmacy personnel through variety of inpatient and outpatient dispensing, along with ambulatory pharmacy practices.
Medication orders are received from multiple systems and clinical areas, around the clock. This system helps pharmacists determine whether a medication is contraindicated for any of the patients, as certain medications are provided based on the age, weight, allergies and profiles. This determination is extremely useful as it increases the patient safety by avoiding reactions.
http://www.micromarketmonitor.com/market/europe-pharmacy-information-system-4683347875.html
Asian Pharmacy Information System Market
The pharmacy information system streamlines and automates the day to day workflow of pharmacists and pharmacy personnel through variety of inpatient and outpatient dispensing, along with ambulatory pharmacy practices. The pharmacy information system is an electronic medication order management and decision-making system, which is useful, time-saving and maintains structure. Moreover, an inventory module helps manage the stock movement within the pharmacy department.
This system integrates various tasks- order management and dispensing, inventory and purchasing management, reporting- comprises the pharmacy related information, scheduling of staff, difficulties in requesting and dispensing medication, checking of patient-specific profiles, tracking of actual costs and patient charge information, manufacturing and compounding- consists of automated logbooks that record information such as quantities, expiration dates and lot numbers of the ingredients and final products. Pricing, charging and billing is universally followed practice in the systems to track patient admissions, discharges and current locations.
http://www.micromarketmonitor.com/market/asia-pharmacy-information-system-6924201035.html
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