Market Size of Central Fill Pharmacy Automation Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.71 Billion |
| Market Size (2029) | USD 1.22 Billion |
| CAGR (2024 - 2029) | 11.32 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players/central-fill-pharmacy-automation-market---growth,-trends,-and-forecast-(2020-–-2025)_CFP_MP.webp)
*Disclaimer: Major Players sorted in no particular order |
Central Fill Pharmacy Automation Market Analysis
The Central Fill Pharmacy Automation Market size is estimated at USD 0.71 billion in 2024, and is expected to reach USD 1.22 billion by 2029, growing at a CAGR of 11.32% during the forecast period (2024-2029).
The major factors attributing to the increased adoption of central fill pharmacies in recent years include growth inthe global prevalence of various cancers, immunological disorders, necessitating the automated dispense of specialty drugs with reduced medication errors and increasing unintentional injuries in geriatric population demands the fastest and accurate supply of medication. For instance, according to the World Health Organization Report - 2018, about 28-35% of people aged 65 and over, fall each year increasing to 32-42% for those over 70 years of age, which is expected to rise in the forecast period fueling the market. Moreover, the reduction of labor costs with the adoption of automation is likelyto drive the growth of the central fill pharmacy automation market throughout the forecast period.
Central Fill Pharmacy Automation Industry Segmentation
The central fill pharmacy automation systems are computer-controlled devices to prepare repeated prescriptions received electronically from the connected branches located centrally on a continuous cycle to simplify the processes for counting, packaging, and filling in large quantities. The Central Fill Pharmacy dispenses the medicines, verifies, labels and packages the items of the prescription in a bag and labels the bag accurately so that they can be easily sorted and transported to the respective branches.
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Central Fill Pharmacy Automation Market Size Summary
The central fill pharmacy automation market is poised for significant growth, driven by the increasing need for efficient medication dispensing systems. This growth is largely attributed to the rising prevalence of cancers and immunological disorders, which necessitate the automated dispensing of specialty drugs to minimize medication errors. Additionally, the growing geriatric population, with its heightened risk of unintentional injuries, underscores the demand for fast and accurate medication supply. The adoption of automation is also seen as a cost-saving measure, further propelling market expansion. The automated medication dispensing systems segment is expected to maintain its dominance due to its ability to enhance patient safety, reduce procedural time, and improve staff productivity.
North America is anticipated to lead the central fill pharmacy automation market, driven by a substantial geriatric and obese patient population in the United States. The region's market growth is supported by the increasing demand for value-based care and the shift towards automated systems, which offer reduced labor costs and improved operational efficiency. The market is moderately competitive, with key players like McKesson Corporation, Parata Systems, and ARxIUM Inc. focusing on service enhancement, product innovation, and strategic collaborations. These companies are actively developing solutions to meet the growing demand for central fill pharmacy models, contributing to the market's robust revenue growth.
Central Fill Pharmacy Automation Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Demand for Specialty Drug Prescription Filling Solutions In The Developed Economies
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1.2.2 Reduced Labor Cost and Filling More Prescriptions Without Errors in Lesser Time
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1.3 Market Restraints
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1.3.1 Lack of Skilled Healthcare Professionals to Operate
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1.3.2 High Initial Capital Investments and Installation Challenges
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Products & Services
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2.1.1 Equipment
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2.1.1.1 Automated Medication Dispensing System
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2.1.1.2 Automated Packaging and Labeling Systems
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2.1.1.3 Automated Medication Compounding Systems
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2.1.1.4 Others
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2.1.2 Services
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United states
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 France
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2.2.2.2 Germany
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2.2.2.3 United Kingdom
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Rest of World
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Central Fill Pharmacy Automation Market Size FAQs
How big is the Central Fill Pharmacy Automation Market?
The Central Fill Pharmacy Automation Market size is expected to reach USD 0.71 billion in 2024 and grow at a CAGR of 11.32% to reach USD 1.22 billion by 2029.
What is the current Central Fill Pharmacy Automation Market size?
In 2024, the Central Fill Pharmacy Automation Market size is expected to reach USD 0.71 billion.
