Central Fill Pharmacy Automation Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.71 Billion |
| Market Size (2029) | USD 1.22 Billion |
| CAGR (2024 - 2029) | 11.32 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
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*Disclaimer: Major Players sorted in no particular order |
Central Fill Pharmacy Automation Market Analysis
The Central Fill Pharmacy Automation Market size is estimated at USD 0.71 billion in 2024, and is expected to reach USD 1.22 billion by 2029, growing at a CAGR of 11.32% during the forecast period (2024-2029).
The major factors attributing to the increased adoption of central fill pharmacies in recent years include growth inthe global prevalence of various cancers, immunological disorders, necessitating the automated dispense of specialty drugs with reduced medication errors and increasing unintentional injuries in geriatric population demands the fastest and accurate supply of medication. For instance, according to the World Health Organization Report - 2018, about 28-35% of people aged 65 and over, fall each year increasing to 32-42% for those over 70 years of age, which is expected to rise in the forecast period fueling the market. Moreover, the reduction of labor costs with the adoption of automation is likelyto drive the growth of the central fill pharmacy automation market throughout the forecast period.
Central Fill Pharmacy Automation Market Trends
This section covers the major market trends shaping the Central Fill Pharmacy Automation Market according to our research experts:
The Automated Medication Dispensing Systems is Estimated to Hold the Largest Revenue Share Over the Forecast Period
- The automated medication dispensing systems segment is estimated to account for the largest market share in recent years and expected to do so over the forecast period. This dominance is because of their ability to eliminate medication errors and decreased procedural time duration along with enhanced patient safety and overall staff productivity contributing to the growth of the market.
- On the other hand, in recent years various companies like Parata Systems, ARxIUM, McKesson Corporation, and QMSI generated good revenue by providing central filling services and customized solutions as per the customer requirements. For example, McKesson Corporation, a key player in the central fill pharmacy automation market offers services such as Central Fill as a Service along with drug dispensing systems and pharmacy management software solutions for better operational efficiency resulting in higher availability to the increasing demand.
North America Dominates the Central Fill Pharmacy Automation Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall central fill pharmacy automation market throughout the forecast period due to the presence of the huge number of geriatric patients and obese patients in the United States demanding the central fill pharmacy model owing to their advantages. For instance, the American Medical Association report in 2018, nearly 40% of adults over the age of 20 representing about 93.3 million people in the United States were obese, projected to increase in the forecast period driving the market. Furthermore, a rise in the growing number of medication errors due to human intervention in specialty medication dispenses resulting in steep growth of demand to focus on providing value-based care to patients in the United States. Also, an increase in the shift towards automated systems due to reduced labor costs for filling, packaging, and labeling coupled with enhanced compounding and dispensing has drawn attention in this market driving the demand in North America central fill pharmacy market contributing to its outstanding market revenue share throughout the forecast period.
Central Fill Pharmacy Automation Industry Overview
The central fill pharmacy automation market is moderately competitive and consists of several major players. In terms of market share, few of the major players are focusing on developing new ways to enhance the services by providing a central fill pharmacy model. Prominent players are also focusing on product approvals, product launch, and are engaged in establishing a strategic alliance and collaborating with other companies operating in this market across the globe. For example, in November 2018, ARxIUM, a leading pharmacy automation industry launched a cGMP RIVA IV compounding system for 503B central-fill, hospital and outsourcing pharmacies which is the only fully automated cGMP system on the market. Some of the companies currently dominating the market are McKesson Corporation, Parata Systems LLC, Omnicell Inc, ARxIUM Inc, and RxSafe LLC.
Central Fill Pharmacy Automation Market Leaders
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McKesson Corporation
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Parata Systems LLC
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Omnicell Inc
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ARxIUM Inc
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RxSafe LLC
*Disclaimer: Major Players sorted in no particular order
Central Fill Pharmacy Automation Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Demand for Specialty Drug Prescription Filling Solutions In The Developed Economies
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4.2.2 Reduced Labor Cost and Filling More Prescriptions Without Errors in Lesser Time
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4.3 Market Restraints
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4.3.1 Lack of Skilled Healthcare Professionals to Operate
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4.3.2 High Initial Capital Investments and Installation Challenges
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Products & Services
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5.1.1 Equipment
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5.1.1.1 Automated Medication Dispensing System
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5.1.1.2 Automated Packaging and Labeling Systems
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5.1.1.3 Automated Medication Compounding Systems
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5.1.1.4 Others
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5.1.2 Services
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United states
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.2 Europe
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5.2.2.1 France
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5.2.2.2 Germany
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5.2.2.3 United Kingdom
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5.2.2.4 Italy
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5.2.2.5 Spain
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5.2.2.6 Rest of Europe
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5.2.3 Asia-Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 India
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5.2.3.4 Australia
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5.2.3.5 South Korea
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5.2.3.6 Rest of Asia-Pacific
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5.2.4 Rest of World
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 ARxIUM Inc
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6.1.2 Cornerstone Automation Systems LLC
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6.1.3 Kuka AG
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6.1.4 McKesson Corporation
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6.1.5 Omnicell Inc
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6.1.6 Parata Systems LLC
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6.1.7 Quality Manufacturing Systems Inc
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6.1.8 R/X Automation Solutions
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6.1.9 RxSafe LLC
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6.1.10 ScriptPro LLC
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Central Fill Pharmacy Automation Industry Segmentation
The central fill pharmacy automation systems are computer-controlled devices to prepare repeated prescriptions received electronically from the connected branches located centrally on a continuous cycle to simplify the processes for counting, packaging, and filling in large quantities. The Central Fill Pharmacy dispenses the medicines, verifies, labels and packages the items of the prescription in a bag and labels the bag accurately so that they can be easily sorted and transported to the respective branches.
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Central Fill Pharmacy Automation Market Research FAQs
How big is the Central Fill Pharmacy Automation Market?
The Central Fill Pharmacy Automation Market size is expected to reach USD 0.71 billion in 2024 and grow at a CAGR of 11.32% to reach USD 1.22 billion by 2029.
What is the current Central Fill Pharmacy Automation Market size?
In 2024, the Central Fill Pharmacy Automation Market size is expected to reach USD 0.71 billion.
Who are the key players in Central Fill Pharmacy Automation Market?
McKesson Corporation, Parata Systems LLC, Omnicell Inc, ARxIUM Inc and RxSafe LLC are the major companies operating in the Central Fill Pharmacy Automation Market.
Which is the fastest growing region in Central Fill Pharmacy Automation Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Central Fill Pharmacy Automation Market?
In 2024, the North America accounts for the largest market share in Central Fill Pharmacy Automation Market.
What years does this Central Fill Pharmacy Automation Market cover, and what was the market size in 2023?
In 2023, the Central Fill Pharmacy Automation Market size was estimated at USD 0.64 billion. The report covers the Central Fill Pharmacy Automation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Central Fill Pharmacy Automation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Central Fill Pharmacy Automation Industry Report
Statistics for the 2024 Central Fill Pharmacy Automation market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Central Fill Pharmacy Automation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
