Central fill pharmacy automation known as an automated pharmacy dispensing system used for reducing the requirement of human or manual labor as it handles the whole inventory system with the use of robots and machines. This system is used for administering, validating, labeling and packaging prescribed medication in a bag with appropriate labels in order to sort and deliver them to other branches.
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The global central fill pharmacy automation market is expected to have a value of US$ 416.06 Mn in 2022, and is estimated to show a CAGR of 12.2% over the forecast period (2022-2030).
The need for reducing errors in medication and demand for development of automated systems having advanced features is increasing around the world, and this is expected to augment growth of the global central fill pharmacy automation market during the forecast period. For instance, in 2019, the National Coordinating Council for Medication Error Reporting and Prevention (NCC MERP) reported that, due to errors in medication in hospitals, about 100 million individuals die every year, which is why eliminating errors in medications is important for improvement of healthcare services and facilities.
Furthermore, growing demand for specialty drug dispensing in central fill pharmacies is expected to fuel growth of the global central fill pharmacy automation market during the forecast period. In past two years, there have been changes in specialty medications as they are aiding in improving lifespan and life quality of patients with chronic diseases. The supply of generic drugs has increased due to growing investments by wholesale distribution channels and manufacturers, which is supporting the market growth.
Impact of COVID-19:
Several industries were adversely impacted by the COVID-19 pandemic. The virus outbreak in China reached more than 200 countries around the world. Due to the lockdown regulations various industrial operations were disrupted. Production and demand declined in many markets and supply chains as well as distribution operations were also disrupted. Thus, healthcare sector was significantly impacted during the COVID-19 pandemic. However, the central fill pharmacy automation market was positively impacted by the pandemic due to various features and advantages offered by central fill pharmacy automation systems, such as Barcode medicine identification, Inventory management, automated dispensing systems, Pill sorter, counter, and packaging machines, Tracking medical history and Compounding medication etc.
High initial investments and dearth of trained professionals is likely to hinder growth of the global central fill pharmacy automation market during the forecast period. As the cost of power usage, maintenance, technicians, services and others included in the completed budget is high, and unaligned pharmaceutical workforce capabilities with new technological development, the market growth is limited.
North America among regions is anticipated to witness substantial growth in the global central fill pharmacy automation market during the forecast period. This is due to rise in M&A activities in market players in the region. For instance, in July 2021, Parata Systems, a U.S.-based pharmacy automation provider acquired Synergy Medical, to expand the product portfolio of the company.
Furthermore, Europe is also anticipated to witness robust growth in the global central fill pharmacy automation market during the forecast period. This can be attributed to growing adoption of growth strategies like partnerships by market players across the region. For instance, RxSafe, LLC, entered into partnership with Centered Solutions, Ltd in July 2019, to expand its services in European market.
Key players functioning in the global central fill pharmacy automation market are Catalyst Healthcare Ltd., Omnicell, Yuyama USA, ARxIUM, Capsa Healthcare, ScriptPro, Noritsu, Cardinal Health, Quality Manufacturing Systems, Inc., Parata Systems, Cornerstone Automation Systems, LLC, Tension Packaging & Automation, and McKesson Corporation.
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Reasons to buy this Central Fill Pharmacy Automation Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ Central Fill Pharmacy Automation market size estimation and recent advancements in the industry are explained.
The Study Objectives are:
✔ A comprehensive insight into key players operating in the Central Fill Pharmacy Automation Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Central Fill Pharmacy Automation Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Central Fill Pharmacy Automation Industry Impact
Chapter 2 Global Central Fill Pharmacy Automation Competition by Types, Applications, and Top Regions and Countries
2.1 Global Central Fill Pharmacy Automation (Volume and Value) by Type
2.3 Global Central Fill Pharmacy Automation (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Central Fill Pharmacy Automation Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Central Fill Pharmacy Automation Market Analysis
Chapter 6 East Asia Central Fill Pharmacy Automation Market Analysis
Chapter 7 Europe Central Fill Pharmacy Automation Market Analysis
Chapter 8 South Asia Central Fill Pharmacy Automation Market Analysis
Chapter 9 Southeast Asia Central Fill Pharmacy Automation Market Analysis
Chapter 10 Middle East Central Fill Pharmacy Automation Market Analysis
Chapter 11 Africa Central Fill Pharmacy Automation Market Analysis
Chapter 12 Oceania Central Fill Pharmacy Automation Market Analysis
Chapter 13 South America Central Fill Pharmacy Automation Market Analysis
Chapter 14 Company Profiles and Key Figures in Central Fill Pharmacy Automation Business
Chapter 15 Global Central Fill Pharmacy Automation Market Forecast (2022-2028)
Chapter 16 Conclusions
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