Central Fill Pharmacy Automation Market Size Worth USD 1,520.43 Million in 2032 | Emergen Research

Vancouver, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global central fill pharmacy automation market size was USD 523 Million in 2022 and is expected to register a revenue CAGR of 11.20% during the forecast period. Increasing specialty drug dispensing, growing need to minimize medication errors, and increasing focus on automation by major companies to reduce labor costs are major factors driving the central fill pharmacy automation market revenue growth.

Expansion of the global central fill pharmacy automation market revenue growth is expected to be driven by rising demand for specialty medicine dispensing from central fill pharmacies. Specialty drugs have revolutionized medicine during the past two decades, extending life expectancy, and enhancing the quality of life for many people with chronic illnesses. One can purchase any registered pharmacy from a manufacturer or through a licensed wholesale distribution channel. Marketed specialty medications treat complicated, unusual, or persistent illnesses. The rising adoption of these drugs is crucial for delivering best possible patient care, and it is expected to continue. Healthcare providers are aware of the financial advantages of launching or growing specialized pharmacy services, but they also understand.

The process of filling prescriptions can be automated. It resembles a manufacturing process in many respects, and lean manufacturing concepts are in play. When compared to a human preparation method, automated filling technology can safely fill prescriptions in blister packs at rates up to 1.5 multi-dose blister packs per minute. Automated visual inspection solutions are also now available to drastically increase efficiency by reducing or eliminating the requirement for manual accuracy checks for adherence packets.

The fact that bulk of inventory can be stored at a single-fill facility, centralized fulfillment enables pharmacies to decrease the quantity of inventory in their physical stores. As a cost-effective approach, pharmacies can use central fill facilities outfitted with pharmacy automation technology. These facilities' size enables optimum material flow and space arrangement, increasing efficiency and quality. Hence, driving the central fill pharmacy automation market revenue growth.

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Automated technologies for drug administration and dispensing can lower medication mistakes, enhance patient care, and save costs related to adverse events brought on by pharmaceutical errors. Automated medicine dispensing systems, bar-code drug administration and dispensing verification, and computerized medication administration records are some of these technologies. Physicians can enter orders online using a program called Computerized Physician Order Entry (CPOE). This approach has arguably had the most effect on lowering pharmaceutical mistakes of any automated intervention; in one study, the incidence of major errors dropped by 55%, while in another, the rate of all errors dropped by 83%.

Segment Insights

Application Insights:

Based on application, the global central fill pharmacy automation market is segmented into inpatient pharmacy, outpatient pharmacy, and retail pharmacy.

The inpatient pharmacy segment accounted for a major market share in 2022. The inpatient pharmacy has multiple applications in healthcare, including acute care and long-term care. It offers numerous advantages through collaborative care and direct engagement with patients. The provision of pharmacist services for inpatients typically leads to enhanced care, with no evidence of negative effects.

Healthcare teams engage with patients through various activities, such as conducting patient rounds, interviewing patients, reconciling medications, and providing counseling and follow-up upon patient discharge. These interactions consistently yield improved outcomes. In addition, there is a rising number of patients seeking care and an increase in pharmaceutical activities aimed at improving health. The expanding utilization of patient care, coupled with strong government support, serves as a major factor driving revenue growth of this segment.  

Product Type Insights:

Based on product type, the global central fill pharmacy automation market is segmented into automated medication dispensing systems, integrated workflow automation systems, automated packaging and labeling systems, automated tabletop counters, automated medication compounding systems and automated storage and retrieval systems, and others.

The automated medication dispensing system segment accounted for largest market share in 2022. An Automated Medicine Dispensing Machine (ADM) is a computer-controlled device that works to store, dispense, and track drugs at a medical facility. ADMs, often referred to as Automated Medicine Dispensing Cabinets (ADCs), are common in American hospitals. Depending on the size, manufacturer, and other details, cost of these automatic medicine dispensers might vary greatly. When support services are added, the price of this equipment can quickly reach several thousand dollars per unit. However, it has been demonstrated that using ADMs in a hospital can dramatically cut costs since fewer medication mistakes, lower pharmaceutical inventory costs, and higher medication inventory turn rates all result in lower expenses. Personal ADMs, which are significantly smaller than ones used in hospitals, are also offered for sale.

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Regional Insights:

North America accounted for largest market share in 2022. The existence of a sizable population of elderly and obese patients in the United States, who want the central fill pharmacy model due to its benefits, is likely to cause North America to dominate the global central fill pharmacy automation market over the forecast period.

According to the United States Census Bureau, by 2030, all baby boomers will be over 65 and will outnumber children for the first time in American history. There will be 78 million seniors living in the nation by 2035. Patients in this age group make up almost 40% of hospitalized adults and can be responsible for up to 50% of all hospitalization-related spending on healthcare. In addition, they are hospitalized three times as frequently as people aged 45 to 64. By 2025, the United States will require 2.3 million additional healthcare employees to adequately care for the aging population in the country.

Asia Pacific accounted for third-largest market share in 2022. Asia Pacific is the world's fastest-growing region. The need for pharmacy automation systems in APAC is going to be favorably impacted by rapidly increasing number of patients, need for high-quality treatment, and efficient upgrading of the healthcare IT infrastructure.

During the estimated time frame, China is expected to dominate the Asia Pacific market for pharmacy automation systems. Medical experts and pharmacists are under pressure to develop more effective technologies as the incidence of medication prescription error-related fatalities and injuries rises. In addition, there is a rising need for medication delivery methods that are safe and promote more patient visits. The best way to prevent medication errors and increase patient safety is to use advanced automated processes and technology.

Scope of Research

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Major Companies and Competitive Landscape

The global central fill pharmacy automation market is fairly fragmented, with a number of large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solutions. Some major companies included in the global central fill pharmacy automation market report are:

• ARxIUM
• Cornerstone Automation Systems, LLC.
• KUKA AG
• MCKESSON CORPORATION
• Omnicell
• Parata Systems, LLC
• Quality Manufacturing Systems, Inc.
• R/X Automation Solutions.
• RxSafe, LLC

• ScriptPro LLC 

Strategic Development

• On 16 November 2020, ARxIUM, a global provider of pharmacy automation, workflow, and inventory management solutions, today announced it has completed a multi-year engagement that expands and integrates the UNC Health Shared Services Center, UNC Hospitals, and Rex Hospital. By implementing a range of highly automated, interoperable systems and other workflow solutions, the health system has achieved advanced pharmacy safety and operational efficiencies.

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For the purpose of this report, Emergen Research has segmented the global central fill pharmacy automation market based on product type, application, and region:

• Product Type Outlook (Revenue, USD Million; 2019-2032)
  • Automated Medication Dispensing System
  • Integrated Workflow Automation System
  • Automated Packaging and Labeling Systems
  • Automated Tabletop Counters
  • Automated Medication Compounding Systems
  • Automated Storage and Retrieval Systems
  • Others
• Application Outlook (Revenue, USD Million; 2019-2032)
  • Inpatient Pharmacy
  • Outpatient Pharmacy
  • Retail Pharmacy
• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. U.A.E.
    3. South Africa
    4. Turkey
    5. Rest of MEA

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