Global Central Fill Pharmacy Automation Market was valued at US$ 312.9 Mn in 2017 and is expected to reach US$ 721.5 Mn by 2026, at a CAGR of 11.01 % during a forecast period.
Global Central Fill Pharmacy Automation Market
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 central fill pharmacy automation market.
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 central fill pharmacy automation 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 central fill pharmacy automation 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 2018, 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 2018, ARxIUM, Inc., hurled cGMP RIVA IV Compounding system for 503B facilities.
In 2018, 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 Central Fill Pharmacy Automation 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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Scope of the Global Central Fill Pharmacy Automation Market
Global Central Fill Pharmacy Automation Market, By Product & Service
o Automated Medication Dispensing Systems
o Integrated Workflow Automation Systems
o Automated Packaging and Labeling Systems
o Automated Tabletop Counters
o Automated Medication Compounding Systems
o Automated Storage and Retrieval Systems
o Other Automated Systems
o Workflow & Process Optimization
o Facility Designing
o Custom Software Development
o Other Services
Global Central Fill Pharmacy Automation Market, By Vendor
• Equipment Vendors
• Consulting Vendors
Global Central Fill Pharmacy Automation Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Central Fill Pharmacy Automation Market
• 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, Inc. (QMSI)
• This Report Is Submitted By @ Maximize Market Research Company
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