Central Fill Pharmacy Automation Market By Product & Service Type (Equipment, Software, Services), By Vendor (Equipment Vendors, Sales & Consulting Vendors) - Growth, Future Prospects And Competitive Analysis, 2019 – 2027

Central fill pharmacy automation market to exhibit dynamic growth during the forecast period.

The global central fill pharmacy automation market is developing competently, expected to grow at a CAGR of 10.1%. Globally, increasing penetration of pharmacy automation products, advancement in robotics & tabletop devices, and growth in overall software & services for enhanced distribution of pharmaceutical drugs will drive the overall market growth. Rising awareness about central fill automation technology and the launch of integrated software solutions are key factors driving the development of the central fill pharmacy automation market on a global scale. In addition, advancements in high-volume solutions improve operational efficiency and minimize costs related to drug inventory, and other upfront investments will enhance the overall market growth.

Market Synopsis

Automated equipment systems are expected to register higher growth by the end of 2027

In 2018, the medication dispensing systems in the equipment segment accounted for the largest share of the global market. Increased focus on packaging and automation activities for enhanced optimization and workflow management will improve the overall dynamics of the central fill pharmacy automation, including increased accuracy, order archives, and traceability. Additionally, demand for specialty drugs and biologics will upsurge the market's growth. Expansion of pharmacy management software, group purchasing, packaging, alternate site pharmacy solutions, consulting services, and supply chain solutions will drive the demand on a global scale, e.g., SP Central Workflow Integration, McKesson High Volume Solutions, SynMed® Ultra (automated blister pack central fill) and others.

Equipment vendors to witness a significant CAGR

Pharmacy automation equipment vendors are expanding their manufacturing capacity in the retail chain; long term cares inpatient and outpatient hospital settings. Additionally, vendors and top suppliers mainly focused on packaging technology, medication dispensing, design, staff efficiency, training, and streamlining automated pharmacy workflow. As a result, acquisitions, partnerships, and new product & service expansion will spur revenue growth during the forecast period. For instance, in Dec 2018, TCGRx acquired Parata Systems to further expand its pharmacy technology solutions in the U.S. market. Moreover, in Aug 2017, Synergy Medical launched Synmed Ultra pharmacy automation for high throughput dispensing medications in blister packs (fill over 100 multi-dose blister packs/hour with hundreds of different tablet types).

Increased research and development with strong product pipelines in the developed regions

Major players in the central fill pharmacy automation market 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. Top service providers are developing with advanced expertise, integrated automated pharmacy solutions, and superior distribution channels. Acquisitions, technology expansion, partnerships, and improved R&D will invent the development of a central fill pharmacy automation market in the developing nations in the near future.

Historical & Forecast Period

This study report represents an analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Frequently Asked Questions:

The market for Central Fill Pharmacy Automation is expected to reach US$ XX Bn in 2027.

The Central Fill Pharmacy Automation market is expected to see significant CAGR growth over the coming years, at 10.1%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

TCGRx (Parata Systems), Scriptpro, ARxIUM, Inc, Cornerstone Automation Systems, LLC (CASI), Omnicell, Inc, Tension Packaging & Automation, RxSafe, LLC, Innovation Associates, Inc. are some of the major players in the global market.

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Published Date:  Nov 2019
Category:  Pharmaceuticals
Report ID:   60029
Report Format:   PDF
Pages:   120
Rating:    4.3 (67)
Delivery Time: 24 Hours to 48 Hours   
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