Central Fill Pharmacy Automation Market Forecast, 2018-2028: Rising Prescription Volumes and Integration with Pharmacy Management Systems is Driving Market Growth

News provided by

Feb 07, 2024, 23:30 ET

DUBLIN, Feb. 7, 2024 /PRNewswire/ -- The "Central Fill Pharmacy Automation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.

As healthcare demands and prescription volumes rise globally, the Global Central Fill Pharmacy Automation Market takes center stage in enhancing pharmaceutical operations' efficiency and accuracy.

The integration of advanced technologies, including robotics, artificial intelligence (AI), and machine learning, is propelling this market towards notable growth, projected at a CAGR of 9.58% through 2028. According to an exhaustive market study, the sector valued at USD 658.52 million in 2022, is experiencing a significant transformation and is poised for continued expansion in the coming years.

Key Drivers Behind Accelerating Market Progress

Central Fill Pharmacy Automation systems are rapidly being adopted due to the need for scalable prescription processing mechanisms capable of serving the growing medication requirements fuelled by an aging population and the rise of chronic diseases. The undeniable benefits of these automated systems not only lie in their operational efficiencies but also in their capacity to enhance patient safety and adhere to strict regulatory standards.

Equipment Segment and North American Market Leading Charge

The Equipment sector stands as a formidable segment within this market, primarily driven by the relentless pursuit of innovation and enhanced prescription filling accuracy. North America, with its robust healthcare infrastructure and emphasis on healthcare innovation, continues to be at the forefront of this market, showcasing the highest adoption rates of Central Fill Pharmacy Automation.

Integration with Pharmacy Management Systems: A Catalyst for Growth

A seamless integration of automation systems with Pharmacy Management Systems (PMS) is instrumental in pushing the boundaries of what is possible in Central Fill Pharmacy Automation. This synergy not only streamlines workflows but also ensures precision in medication inventory control, reducing dispensing errors and amplifying patient safety through regulatory compliance.

Technological Advancements Shaping the Future

Technological advancements are leading the charge in redefining Central Fill Pharmacy Automation. Innovations in remote monitoring, AI, and automated packaging systems are driving significant improvements in operational efficiency and patient-centric care. These advancements enable pharmacies to expand their service capacity while ensuring medications are accurately and safely dispensed.

Segmental Insights Highlight Equipment and Vendor Collaboration

The market's success is further segmented by the collaborative efforts of equipment vendors who are integral in customizing solutions to meet diverse pharmacy needs. Through research and development, equipment vendors contribute to the market's dynamism by providing automation solutions that ensure efficiency and adaptability across various pharmacy settings, from small-scale operations to large healthcare networks.

Transitioning to a more efficient and error-free pharmaceutical dispensing process, the Global Central Fill Pharmacy Automation Market is a game-changer for healthcare providers worldwide. The benefits of automated central fill systems echo throughout the industry, leading to economies of scale, cost-saving opportunities, and a much-needed focus on patient-centered healthcare.

Report Scope:

In this report, the Global Central Fill Pharmacy Automation Market has been segmented into the following categories:

Central Fill Pharmacy Automation Market, By Product and Service:

Equipment
Software
Services

Central Fill Pharmacy Automation Market, By Vendors:

Equipment Vendors
Consulting Vendors

Companies Profiled

ARXIUM, Inc.
RxSafe, LLC
TCGRX Pharmacy Workflow Solutions
Omnicell, Inc.
ScriptPro LLC
Kuka AG
R/X Automation Solutions
Tension Packaging & Automation
McKesson Corporation (US),
Cornerstone Automation Systems, LLC

For more information about this report visit https://www.researchandmarkets.com/r/47ba0y

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets