Central Fill Pharmacy Automation Market Global Industry Analysis, size, share and Forecast 2020-2027

 

The GMI Research expects the Central Fill Pharmacy Automation Market to expand at a significant rate during the forecast period. From a regional perspective, Europe is anticipated to grow at a higher CAGR due to the strong demand for efficient prescription filling and the rising emphasis of pharmacists on offering efficient patient care.

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Central Fill Pharmacy Automation Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The global central fill pharmacy automation market is predicted to witness an upsurge in demand during the forecast period due to the increasing aging population with chronic diseases. This factor has led to a significant increase in the volume of outpatient drugs. Various benefits of automation in central fill pharmacy, such as the decrease in errors, fewer labor costs, reduction in turnaround time, and the growing emphasis on patients, will contribute to the growth of the market. Moreover, the rapid technological advancements in this field are creating lucrative opportunities to surge the scalability of business, thereby propelling the growth of the global central fill pharmacy automation market in the upcoming years. On the other hand, the factors hampering the growth of the market include the increasing cost of acquisition and installation of equipment.

Vendor Segment Drivers

Based on the vendor, the equipment vendor is expected to grow at a higher CAGR during the forecast period due to the strong geographic presence, high technical expertise, and access to spare parts (resulting in reduced downtime). In addition to this, these vendors provide various services, equipment, and software under one roof, thus making them the preferred choice among end-users.

Regional Drivers

North America is projected to lead the market owing to the strong presence of the wide number of geriatric patients and obese patients in the US demanding the central fill pharmacy model due to their benefits. Additionally, the increasing number of medication errors due to human intervention in specialty medication dispenses is driven by a drastic rise in demand to offer value-based care to patients in the US. Furthermore, the fundamental shift in consumer's preference towards automated systems owing to the decreased labor costs for packaging, filling, and labeling, followed by improved compounding and dispensing, are some other factors accelerating the growth of the market in the upcoming years.

Central Fill Pharmacy Automation Market’s leading Manufacturers:

·        McKesson Corporation

·        TCGRx

·        Innovation Associates

·        RxSafe, LLC

·        R/X Automation Solutions

·        Capstone Consultants LLC

·        ARxIUM, Inc.

·        Workflow Solutions

·        Omnicell, Inc.

·        ScriptPro

Central Fill Pharmacy Automation Market Segmentation:

Segmentation by Product:

·        Equipment

o   Workflow management

o   Automated Dispensing System

o   Automated Medication Compounding System

o   Automated Storage

o   Retrieval Systems

o   Others

·        Service

o   Facility design

o   Process Optimization

o   Others

·        Software

Segmentation by Vendor:

·        Equipment Vendor

·        Consulting Vendor

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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