FORT WORTH, Texas, May 11, 2015 /PRNewswire/ --
The North American pharmacy information system market was valued at $1,380.9 million in 2014 and is estimated to grow to $2,034.6 million by 2019, at a CAGR of 8.1% during the period under consideration.
Pharmacy Information System (PIS) is an application used for patient safety as it enables reduction in errors that may occur while dispensing medication. It is also used for administering the timely dosage of medicines and helps understand the drug dosage limit with respect to age, weight, and gender of the patient.
Browse through the TOC of the North America Pharmacy Information System Market to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of this market in the major regions, and is supported by various tables and figures.
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The pharmacy information system market in North America has been segmented and analyzed on the basis of types, such as inpatient pharmacy information systems and outpatient pharmacy information systems. The inpatient pharmacy information system is a highly rewarding market, representing a number of opportunities for the key market stakeholders.
The growth of the pharmacy information system is driven by the support provided by governmental organizations. The increase in costs of healthcare has been considered as one of the prime reasons for the growth of the healthcare informatics market. The U.S. government defines Accountable Care Organization (ACO) as a group of healthcare providers who give coordinated care, chronic disease management, and thereby improve the quality of care provided to patients.
The U.S. pharmacy information system segment accounted for the largest share in the North American market and is projected to grow at a CAGR of 8.1% from 2014 to 2019. The segment is expected to grow further due to the augmented growth in research and government support. The Canadian segment is anticipated to grow at a high growth rate due to the various initiatives taken by the government to aid and support Information and Communication Technologies (ICT), including eHealth, and the allocation health budget to implement healthcare IT solutions that will also drive the growth of the PIS market in the country.
Cerner Corporation (U.S.), athenahealth, Inc. (U.S.), eClinical Works (U.S.), Epic Systems (U.S.), Allscripts (U.S.), McKesson Corporation (U.S.), and ScriptPro LLC (U.S.), among others, are some of the key players engaged in this market.
The European Pharmacy Information Systems (PIS) Market, mainly driven by the growing popularity of e-prescriptions, was valued at $695.13 million in 2013, and is expected to reach $1,004.39 million by 2018, at a CAGR of 7.6%.
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