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Global Institutional Pharmacies Market to Inflate Owing To Rising Geriatric Population and Chronic Disease Prevalence

Press release Description

Albany, New York, May 08, 2017: The institutional pharmacies are not directly involved in the patient interaction, but due to increasing geriatric population and variations in the pharmacy practices, institutional pharmacies have started guiding and consulting the patients. Given this scenario, Market Research Reports Search Engine (MRRSE) has recently publicized the addition of a new market report to its vast online repository with a title “Institutional Pharmacies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”. This report on global institutional pharmacies market analyzes the present market state as well as the future potential of the market.

The report begins by providing an executive summary of the global institutional pharmacies market including definitions, applications, segregations, products descriptions, classifications and industry chain mechanism analysis. This market study has been compiled via an in-depth market investigation with inputs from industry insiders and extensive primary and secondary research. The industry market environment analysis is undertaken, which covers industrial requirements for resources and technologies, recent technological development trends, the impact of micro- & macro-economic policies and other influencing factors. Market dynamics such as drivers, the threat of substitutes, restraints, market barriers to entry, industry chain bargaining power and manufacturer profitability are also evaluated in detail within the scope of the report.

According to the report, the market of institutional pharmacies is expected to rise rapidly in upcoming years due to numerous market drivers, such as increased need for institutional pharmacies, benefits of bulk purchase and growth in geriatric population. Besides this, intensifying prevalence of chronic disease and increasing awareness among hospitals and pharmaceutical graduates about the benefits of institutional pharmacies against the old-fashioned pharmacies are also fueling the demand for institutional pharmacies. On the other hand, lack of awareness, stringent government regulations and high initial costs are the major restraining factors likely to impose a threat to the market growth. Moreover, rising consolidation of the medical industry and decreasing medical reimbursement could also hinder the market’s growth.

Geographically, the prominent regions covered in the report are North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. Some of the major companies operating in the global market are OmniCare, BGS Pharmacy Partners, PharMerica, Golden Horizons, NuScriptRx, Chem Rx Corporation, Uvanta and others. Due to the latest trend of consolidation in the industry, many companies have started employing the strategy of partnerships and acquisitions to inflate their product portfolio and geographic presence.

Browse Full Global Institutional Pharmacies Market Report with TOC

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