The latest market report published by Credence Research, Inc. “Central Fill Pharmacy Automation Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the central fill pharmacy automation market was valued at US$ 308.1 Mn in 2018, expected to grow at a CAGR of 10.1% during the forecast period from 2019 to 2027.
The global central fill pharmacy automation market is growing effectively from 2019 to 2027 accredited to the rise in uptake for specialty medications dispensed through central fill pharmacies. Advancement in robotic technology along with updated software integration, enhancement in supply chain services, support programs, and consulting services for streamline inventory management and workflow will drive the market growth on a global scale. Numerous reported medication errors due to improper patient or drug information, storage, quality control, standardization and others will upsurge the central fill pharmacy installations. Launch of new equipment with improved solutions & dispensing technology, and enhancement in high-speed volume will drive the market growth in the near future.
Equipment vendors promote patient medication adherence along with specialty medications, more focused on high-value personalized counseling and clinical services, provide high-speed automation technology and ensure higher patient safety with digital imaging technology. For instance, in Aug 2018, TCGRx launched the PharmAlytics™ business intelligence system for enhanced management of pharmacy inventories. In Aug 2017, Swisslog Holding AG acquired Talyst Systems, LLC further expand its pharmacy automation solutions across North America, Asia and EMEA.
Top manufacturers and service providers are engaged in new product development on a global scale. An increasing number of collaborations and partnerships with hospital chains, retail, and big pharmacy chains internationally will drive the market growth in the U.S. and Europe region. The U.S. market holds maximum market share. Key factors include increasing demand for specialty medications, rising capital equipment installations in central fill for enhanced patient outcomes at less cost, faster delivery of drugs, reduced labor costs, and improved medication packaging accuracy with zero errors along with greater control.
Key Market Movements:
• Globally, the central fill pharmacy automation market is growing at a CAGR of 10.1% for the period from 2019 to 2027
• Speedy expansion of central fill pharmacy automation infrastructure in emerging economies, and pharmacy supply chain industry will drive the market growth
• The evident growth factors include increasing demand for biologics globally, and FDA approval of new integrated pharmacy systems. Additionally, increasing population, along with awareness related to top applications in the central fill pharmacy automation productiveness for enhanced patient outcomes
• Market limitations include high cost of capital equipment installations, less technology expansion in the emerging nations, medication errors and others
• Major players in this vertical are TCGRx (Parata Systems), Scriptpro, ARxIUM, Inc, Cornerstone Automation Systems, LLC (CASI), Omnicell, Inc, Tension Packaging & Automation, RxSafe, LLC, Innovation Associates, Inc., Kuka AG, R/X Automation Solutions, Capsa Healthcare, McKesson Corp., Simplimatic Engineering Holdings LLC, Conveyco Technologies Inc., Synergy Medical and others.
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