Central Fill Pharmacy Automation Market

Central Fill Pharmacy Automation Market was estimated at USD 381 Million in 2019 and predicted to grow at 11.5% CAGR during the forecast period.

Introduction of the Global Central Fill Pharmacy Automation Market Report

Central fill pharmacy is permitted by the government bodies and prepares substance orders for dispensation according to a valid prescription delivered to it through a certified retail pharmacy. The central fill pharmacy automation is defined as an automated pharmacy dispensing system that is designed to reduce the requirement for human labor by automatically controlling the inventory systems through machines and robots. The global central fill pharmacy automation market basically covers products and services which include automated medication dispensing systems, automation mediation compounding systems, and other systems.

To have an edge over the competition by knowing the market dynamics and current trends of “Global Central Fill Pharmacy Automation Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

One of the major factors that is contributing to the growth of the global central fill pharmacy automation market size includes the strong demand for specialty drugs among the central fill pharmacies at the global level. Moreover, the increasing prevalence of various cancers, immunological disorders, and unintentional injuries is further supporting the growing demand of the market. As per the WHO, cancer is the second biggest reason for deaths around the world by causing around 10 million deaths every year, amounting to about 1 in 6 deaths due to cancer.  Additionally, the rising reporting of medication errors is further surging public concerns related to safety, thus propelling the growth of the central fill pharmacy automation market share.

Central fill pharmacy automation provides various exceptional benefits such as enhanced operational efficiency, helps in increasing profits, and reducing costs. All these factors are further responsible for the growth of the market in the coming years. There has been an increase in the number of accidental injuries in the geriatric population, which is indirectly surging the demand of the market. According to the WHO, around 1.35 million individuals die every year fur to road traffic crashes. Thus, this factor will indirectly surge the central fill pharmacy automation market growth.

Restraints in the Global Central Fill Pharmacy Automation Market

On the other hand, the high capital investment needed for automation of the central fill pharmacy is a major factor that is hampering the market growth.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Products & Services – Segment Analysis

Based on the products & services, the equipment segment is predicted to grow at a higher CAGR during the forecast period. This is mainly due to the increasing demand for automated medication dispensing systems around the world. These systems help in reducing medication errors and decrease the procedural time duration while improving the patient’s safety and boosting the staff’s productivity. On the other hand, the services segment is anticipated to dominate the market during the forecast period. The presence of numerous organizations such as ARxIUM, McKesson Corporation, and QSMI, are some of the leading players offering central filling services and customized solutions according to the specific need of the customer. For instance, McKesson Corporation provides services such as Central Fill as a Service, drug dispensing systems and pharmacy management software solutions for better operational efficiency.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the region, the North America region is predicted to witness a faster CAGR during the forecast period. The presence of a high number of geriatric patients and obese patients in the United States is a major factor that has led to an increase in the demand for central fill pharmacies. As per a report by the American Medical Association in 2018, around 40% of adults over the age of 20, amounting to 93.3 million people in the United States, were obese. Furthermore, the rising number of medication errors owing to human intervention in specialty medication dispenses is further propelling the market’s demand. The U.S. Food and Drug Administration (FDA) is having more than 100,000 U.S. reports every year related to the suspected medication error. Moreover, there has been a shift towards automated systems due to the decreased labor costs for packaging, filling, and labeling. All these factors will have a positive impact on the growing demand of the regional market.

Top Market Players

Various notable players operating in the market include McKesson Corporation, Omnicell, Inc., ARxIUM, ScriptPro LLC, TCGRx, Rxsafe, LLC, KUKA AG, Tension Packaging & Automation, Cornerstone Automation Systems, LLC, and Quality Manufacturing Systems, Inc., among others. 

Key Developments:

• • In 2018, ARxIUM introduced CGMP RIVA IV Compounding system for 503B central-fill, hospital, and outsourcing pharmacies.
  • In 2018, TACRx acquired Parata Systems to increase its existing growth initiatives with central fill, inventory control, and automated blister card packaging technologies.

Segments covered in the Report:

The global central fill pharmacy automation market has been segmented on the basis of products & services, and regions. Based on products & services, the market is segmented into equipment and services. The equipment is further categorized into automated medication dispensing system, automated packaging and labeling systems, automated medication compounding systems, and others. 

For detailed scope of the “Global Central Fill Pharmacy Automation Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global central fill pharmacy automation market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global central fill pharmacy automation market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global central fill pharmacy automation market?
  • Which products & services generated maximum revenues in 2019 and identify the most promising products & services during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Central Fill Pharmacy Automation Market by Products & Services

• • Equipment
    • Automated Medication Dispensing Systems
    • Automated Packaging and Labeling Systems
    • Automated Medication Compounding Systems
    • Others
  • Services

Global Central Fill Pharmacy Automation Market by Region

• • North America Central Fill Pharmacy Automation Market (Option 1: As a part of the free 25% customization)
    • North America Global Central Fill Pharmacy Automation Market by Products & Services
    • US Central Fill Pharmacy Automation Market All-Up
    • Canada Central Fill Pharmacy Automation Market All-Up
  • Europe Central Fill Pharmacy Automation Market (Option 2: As a part of the free 25% customization)
    • Europe Central Fill Pharmacy Automation Market by Products & Services
    • UK Central Fill Pharmacy Automation Market All-Up
    • Germany Central Fill Pharmacy Automation Market All-Up
    • France Central Fill Pharmacy Automation Market All-Up
    • Spain Central Fill Pharmacy Automation Market All-Up
    • Rest of Europe Central Fill Pharmacy Automation Market All-Up
  • Asia-Pacific Central Fill Pharmacy Automation Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Central Fill Pharmacy Automation Market by Products & Services
    • China Central Fill Pharmacy Automation Market All-Up
    • India Central Fill Pharmacy Automation Market All-Up
    • Japan Central Fill Pharmacy Automation Market All-Up
    • Rest of APAC Central Fill Pharmacy Automation Market All-Up
  • RoW Central Fill Pharmacy Automation Market (Option 4: As a part of the free 25% customization)
    • RoW Central Fill Pharmacy Automation Market by Products & Services
    • Brazil Central Fill Pharmacy Automation Market All-Up
    • South Africa Central Fill Pharmacy Automation Market All-Up
    • Saudi Arabia Central Fill Pharmacy Automation Market All-Up
    • UAE Central Fill Pharmacy Automation Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Central Fill Pharmacy Automation Market All-Up

Major Players Operating in the Global Central Fill Pharmacy Automation Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • McKesson Corporation
  • Omnicell, Inc.
  • ARxIUM
  • ScriptPro LLC
  • TCGRx
  • Rxsafe, LLC
  • KUKA AG
  • Tension Packaging & Automation
  • Cornerstone Automation Systems, LLC
  • Quality Manufacturing Systems, Inc.