Central Fill Pharmacy Automation  Market Forecast To 2033 : Trends, Segmentation, Product Type, Technology And Key Players

Overview and Scope
Central fill pharmacy automation refers to the process of utilizing automated systems and technologies to centralize the prescription fulfillment process for multiple pharmacies within a network or chain. These facilities use robotic technology and automated processes to fill prescriptions, package medications, and distribute them back to the originating pharmacies, streamlining operations and improving efficiency in medication dispensing.

Sizing and Forecast
The central fill pharmacy automation market size has grown rapidly in recent years. It will grow from $0.57 billion in 2023 to $0.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increased prescription volume, labor shortages, medication safety and accuracy, rising healthcare costs, and expansion of pharmacy services.

The central fill pharmacy automation market size is expected to see rapid growth in the next few years. It will grow to $0.99 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to rising prescription demand, emphasis on patient safety and quality, regulatory compliance requirements, and E-commerce and tele pharmacy. Major trends in the forecast period include integration with telehealth and remote care, interoperability and health information exchange, regulatory compliance and quality assurance, and green initiatives and sustainability.

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The central fill pharmacy automation market covered in this report is segmented –

1) By Product : Equipment, Software, Services
2) By Vendor: Equipment Vendor, Consulting Vendor
3) By Application: Inpatient Pharmacy, Outpatient Pharmacy, Retail Pharmacy, Other Applications

North America was the largest region in the central fill pharmacy automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the central fill pharmacy automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing need to minimize medication errors is expected to propel the growth of the central fill pharmacy automation market going forward. Medication errors are preventable events that may cause or lead to inappropriate medication use or patient harm. Medication errors are rising due to increased complexity in healthcare systems, higher patient volumes, and the proliferation of new medications. Central fill pharmacy automation reduces medication errors by streamlining the medication dispensing process, ensuring accurate and consistent preparation of prescriptions. This technology minimizes human errors and enhances efficiency in handling large volumes of prescriptions. For instance, in September 2022, according to the World Health Organization, a Switzerland-based intergovernmental organization, medication errors cost $2.16 billion, representing 3% of the total national healthcare expenditure. Additionally, 237 million medication errors are reported in a year, with 66 million potentially clinically significant. The estimated costs to the government of avoidable adverse reactions to medication are $106.24 million annually. Therefore, the growing need to minimize medication errors is driving the growth of the central fill pharmacy automation market.

Key Industry Players
Major companies operating in the central fill pharmacy automation market are McKesson Corporation, Cencora Inc., Cardinal Health Inc., Becton Dickinson and Company, Grifols SA, Kuka AG, J M Smith Corporation, Omnicell Inc., Swisslog Healthcare, Parata Systems LLC, ScriptPro LLC, PBA Health, Capsa Healthcare, Cornerstone Automation Systems LLC, ARxIUM Inc., Talyst LLC, Kirby Lester, Quality Manufacturing Systems Inc., R/X Automation Solutions, RxSafe LLC, Innovation Associates Inc.

The central fill pharmacy automation market report table of contents includes:

1. Executive Summary

2. Central Fill Pharmacy Automation Market Characteristics

3. Central Fill Pharmacy Automation Market Trends And Strategies

4. Central Fill Pharmacy Automation Market – Macro Economic Scenario

5. Global Central Fill Pharmacy Automation Market Size and Growth
………….

32. Global Central Fill Pharmacy Automation Market Competitive Benchmarking

33. Global Central Fill Pharmacy Automation Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Central Fill Pharmacy Automation Market

35. Central Fill Pharmacy Automation Market Future Outlook and Potential Analysis

36. Appendix

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