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.
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Equipment vendors promote adherence to patient medications along with specialty drugs, focus on high-quality personalized counseling and clinical services, provide high-speed automation technology and increase patient safety with digital imaging technology.
Top producers and service providers are engaged in new product development on a global scale. An increasing number of international collaborations and partnerships with hospital chains, retailers and major pharmaceutical chains will drive market growth in the U.S. and Europe. The U.S. market holds the maximum market share possible.
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.