Central Fill Pharmacy Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Central Fill Pharmacy Automation Market is segmented by Products & Services (Equipment and Services), and Geography

Central Fill Pharmacy Automation Market Snapshot

Central Fill Pharmacy Automation Market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >11.2 %

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Market Overview

The Central Fill Pharmacy Automation Market studied was anticipated to grow with a CAGR of nearly 11.2% during the forecast period. The major factors attributing to the increased adoption of central fill pharmacies in recent years include growth in the 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 likely to drive the growth of the central fill pharmacy automation market throughout the forecast period.

Scope of the Report

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.

Products & Services
Equipment
Automated Medication Dispensing System
Automated Packaging and Labeling Systems
Automated Medication Compounding Systems
Others
Services
Geography
North America
United states
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of World

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Key Market Trends

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.
Central Fill Pharmacy Automation Market

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 Market

Competitive Landscape

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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Demand for Specialty Drug Prescription Filling Solutions In The Developed Economies

      2. 4.2.2 Reduced Labor Cost and Filling More Prescriptions Without Errors in Lesser Time

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Skilled Healthcare Professionals to Operate

      2. 4.3.2 High Initial Capital Investments and Installation Challenges

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Products & Services

      1. 5.1.1 Equipment

        1. 5.1.1.1 Automated Medication Dispensing System

        2. 5.1.1.2 Automated Packaging and Labeling Systems

        3. 5.1.1.3 Automated Medication Compounding Systems

        4. 5.1.1.4 Others

      2. 5.1.2 Services

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United states

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 France

        2. 5.2.2.2 Germany

        3. 5.2.2.3 United Kingdom

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Rest of World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 ARxIUM Inc

      2. 6.1.2 Cornerstone Automation Systems LLC

      3. 6.1.3 Kuka AG

      4. 6.1.4 McKesson Corporation

      5. 6.1.5 Omnicell Inc

      6. 6.1.6 Parata Systems LLC

      7. 6.1.7 Quality Manufacturing Systems Inc

      8. 6.1.8 R/X Automation Solutions

      9. 6.1.9 RxSafe LLC

      10. 6.1.10 ScriptPro LLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Central Fill Pharmacy Automation Market market is studied from 2018 - 2026.

The Central Fill Pharmacy Automation Market is growing at a CAGR of >11.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

McKesson Corporation, Parata Systems LLC, Omnicell Inc, ARxIUM Inc, RxSafe LLC are the major companies operating in Central Fill Pharmacy Automation Market.

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