The North American Pharmacy Audit and Analysis Market is Projected to Grow at a CAGR of 5.3% till 2019 - A Report by MicroMarket Monitor

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The rising demand for clinical information systems and need to reduce healthcare expenditure is driving the growth of the North America Pharmacy Audit and Analysis market

MicroMarket Monitor

MicroMarket Monitor

Key Players in the North American pharmacy audit and analysis market are Cerner Corporation, Oracle Corporation, Aspect Software, Avaya Inc., Infor

The North American pharmacy audit and analysis market was valued at $1109 million in 2013 and is projected to grow at a CAGR of 5.3% from 2014 to 2019.

Pharmacy audit and analysis system is a software tool that controls costs and ensures the accuracy of drug claim reimbursements. Due to the rise in the prescription drug costs, payers will be interested in the solution. It is used to identify potential fraudulent activities and administrative errors, thereby helping to improve the healthcare delivery, and physician and pharmacy compliance. Drug rebate negotiations, transparency, and improvement in the formula and benefit designs are among the other benefits of the software.

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The North American pharmacy audit and analysis market is projected to grow significantly during the forecast period owing to various reasons. The driving factors of this market are rising demand for clinical information systems, findings from the government, and increasing demand for curbing healthcare expenses. For the end-user demand in the market, the companies mainly focus on providing customized solutions. The market is segmented into integrated pharmacy audit and analysis systems, and standalone pharmacy audit and analysis systems. U.S. covers the largest share in the North American market growing at a CAGR of 5.4%.

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This market is segmented and forecast on the basis of end-user, product, and geography. On the basis of end-users, the market has been segmented into office-based physicians, hospitals, emergency healthcare service providers, and nurses, among others. The market is further segmented and forecast on the basis of the major countries in the North American market, namely U.S., Canada and Mexico. The market report also provides insights into the competitive scenario of the North America market, along with market drivers, restraints, and profiles of the key players of the North America pharmacy audit and analysis market.

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The European healthcare workflow systems report defines and segments the concerned market in North America with analysis and forecast of revenue. The Healthcare workflow systems market in North America was valued at $2009.0 million in 2012 and is estimated to grow further at a CAGR of 5.0% from 2013 to 2018.

The healthcare workflow systems market provides numerous opportunities for market players globally. The demand for European healthcare workflow solutions is likely to increase because of the rising need to cut overall healthcare cost, improved quality and care of clinical outcomes hereby better operational efficiency, and use of software results in reduction of medical errors. Rise in initiatives by European Commission such as eGovernment action plan 2011-2015 to support and complement Information and Communication Technologies (ICT) including eHealth and allocation of 5% of health budget to implement healthcare IT solutions will also accelerate the growth of healthcare workflow systems market ultimately.

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