Central Fill Pharmacy Automation Market was valued at US$ 391.23 Mn in 2021 and is expected to reach US$ 971.12 Mn by 2030, at a CAGR of 12.11 % during a forecast period.
With sophisticated solutions for counting, packaging, filling, and routing, central fill pharmacy automation assists in addressing the complex challenges of filling large quantities. Industry advancements are pushing health-system pharmacy in a variety of directions. Consider central fill automation to connect everything and add value for the customers that businesses serve, particularly medical patients. Central fill pharmacy automation has numerous advantages, including increased operational efficiency, lower costs, increased revenue, increased patient care potential, and others.
The pharmacy industry is rapidly evolving with the advent of pharmacy intelligence, predictive analytics, and growing demand for an entire end-to-end solution. Healthcare executives must innovate to address new medication management challenges (such as COVID-19) and old drug management challenges.
Market Dynamics
Drivers:
The global Central Fill Pharmacy Automation market is expanding as more attention is paid to reducing human interference in the packing, counting, and filling medications. Another advantage of using a central fill pharmacy model is obtaining real-time inventory data, monitoring consumption, and optimizing the inventory. Chronic diseases such as dementia, heart disease, type 2 diabetes, arthritis, and cancer become more common as people age. These factors constantly increase the patient pool and contribute to the demand for central fill pharmacy automation.
Restraints:
Some healthcare professionals and providers are wary of any IT-based central fill pharmacy automation system. This is especially true in situations involving cultural differences and developing economies. Many pharmacists believe they do not need help and are resistant to incorporating central fill pharmacy automation technologies into their dispensing practice. Despite the significant benefits of CFPA systems, as evidenced by their widespread adoption, only high-volume pharmacies and hospitals have been able to justify the ROI generated by their implementation. Physician skepticism, regulatory challenges, and a need for more qualified AI workers could all stymie the CFPA industry's growth during the forecast period. Inconsistent data availability, quality, and the massive amount of computer power and energy required to evaluate data are expected to stymie industry growth in the coming years.
Key players:
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ARxIUM, Inc.,
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RXSAFE, LLC,
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TCGRX Pharmacy Workflow Solutions,
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Omnicell, Inc.,
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McKesson Corporation,
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ScriptPro,
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Kuka AG,
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Innovation Associates Inc.,
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R/X Automation Solutions,
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Tension Packaging & Automation,
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Cornerstone Automation Systems, LLC,
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Quality Manufacturing Systems Inc.,
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Capsa Healthcare,
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Synergy Medical,
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Providen Logistics Ltd.
Market Segmentation:
By Products
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Automated Medication Dispensing System
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Integrated Workflow Automation Systems
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Automated Packaging and Labelling Systems
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Automated Table Top Counters
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Automated Medication Compounding Systems
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Automated Storage and Retrieval Systems
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Others
Services
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Consulting
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Workflow and process optimization
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Facility Designing
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Customer Software Development
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Others
By Vendors
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Equipment Vendors
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Consulting Vendors
By Region
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The Asia-Pacific
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North America
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Europe
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The Middle East & Africa
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Latin America
Regional Analysis:
Due to increased mergers and acquisitions among market players, North America is expected to provide lucrative growth opportunities for the central fill pharmacy automation market. For example, in July 2021, North Carolina-based pharmacy automation provider Parata Systems announced the acquisition of Synergy Medical, a privately held company that develops automation technologies to prepare and dispense solid oral medication in blister cards. This acquisition broadened Parata Systems' portfolio of cutting-edge pharmacy automation technologies.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.11% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 391.23 Million |
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Companies Covered |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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