Central Fill Pharmacy Automation Market – Industry Analysis and Forecast (2023-2029)

Central Fill Pharmacy Automation Market was valued at US$ 427.98 Mn in 2022 and is expected to reach US$ 889.12 Mn by 2029, at a CAGR of 11.01 % during a forecast period.

Increasing demand for specialty medicines that are distributed by central fill drugstores is one of the major key factors steering the growth of the central fill pharmacy automation market globally. Also, increase in the patient population base, and emphasize on automation for reducing the labor charges will contribute remarkably to the size of global market.To know about the Research Methodology:-Request Free Sample Report

However, the high initial investment and logistical challenges may act as some of the limitations for market growth. Moreover, untapped emerging markets is expected to gain significant impetus for the market share in the upcoming years.

The equipment vendors segment is projected to account for the largest market share during the forecast period. This is mostly attributed to their broad product portfolio, vast geographic presence, strong technical expertise, and easy access to spare parts.

North America dominated the market, followed by Europe, and this trend is expected to continue throughout the forecast period. The increasing focus on providing value-based care to patients, rise in specialty medication dispensing, rising number of medication errors, and the need for automated systems for improved compounding and dispensing are major factors that have resulted in the increased acceptance of central fill pharmacy automation equipment and services in North America.

A recent development in the market for fill pharmacy automation: In 2021, TCGRx acquired Parata Systems, to increase the company’s existing growth initiatives with central fill, inventory control, and automated blister card packaging technologies. Also, in 2021, ARxIUM, Inc., hurled cGMP RIVA IV Compounding system for 503B facilities.

In 2021, Swisslog Healthcare acquired Talyst Systems, LLC. With the goal of expanding Swisslog’s inpatient and outpatient pharmacy solutions along with the company’s field service network.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Central Fill Pharmacy Automation Market.
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Global Central Fill Pharmacy Automation Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 427.98 Mn.


Forecast Period 2023 to 2029 CAGR:
11.01%
Market Size in 2029:
US $ 889.12 Mn.


 Segments Covered:
By Product & Service
Equipment
 Automated Medication Dispensing Systems
 Integrated Workflow Automation Systems
 Automated Packaging and Labeling Systems
 Automated Tabletop Counters
 Automated Medication Compounding Systems
 Automated Storage and Retrieval Systems
 Other Automated Systems
Software
Services
 Consulting
 Workflow & Process Optimization
 Facility Designing
 Custom Software Development
 Other Services


By Vendor
Equipment Vendors
Consulting Vendors


By Application
Inpatient Pharmacy
Outpatient Pharmacy
Retail Pharmacy
Others



Central Fill Pharmacy Automation Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players are:
1. Omnicell, Inc.
2. ARxIUM, Inc.
3. Innovation Associates.
4. ScriptPro LLC
5. TCGRX Pharmacy Workflow Solutions
6. RxSafe, LLC.
7. Kuka AG
8. Tension Packaging & Automation
9. R/X Automation Solutions
10.Cornerstone Automation Systems, Llc. (CASI)
11.Mckesson Corporation
12.Quality Manufacturing Systems, Inc. (QMSI)

Frequently Asked Questions:

1. Which region has the largest share in Global Central Fill Pharmacy Automation Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Central Fill Pharmacy Automation Market?
Ans: The global market is growing at a CAGR of 11.01% during forecasting period 2023-2029.

3. What is scope of the Global Central Fill Pharmacy Automation market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Central Fill Pharmacy Automation market?
Ans: The important key players in the global market are – Omnicell, Inc., ARxIUM, Inc., Innovation Associates., ScriptPro LLC, TCGRX Pharmacy Workflow Solutions, RxSafe, LLC., Kuka AG, Tension Packaging & Automation, R/X Automation Solutions, Cornerstone Automation Systems, Llc. (CASI), Mckesson Corporation, Quality Manufacturing Systems, and Inc. (QMSI)

5. What is the study period of this market?
Ans: The Global Central Fill Pharmacy Automation Market is studied from 2022 to 2029.