Central fill pharmacy automation market to grow by USD 480.41 million between 2022 and 2027; Growth driven by rise of medication errors - Technavio

NEW YORK, May 3, 2023 /PRNewswire/ -- The central fill pharmacy automation market is set to grow by USD 480.41 million from 2022 to 2027 progressing at a CAGR of 12.05% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in medication errors. A majority of patients take multiple medications daily. People taking multiple medications are at a high risk of medication errors, which could pose health issues and increase annual healthcare expenditures. Medication errors lead to instances such as a medication cocktail called polypharmacy, which worsens the condition and requires emergency hospital visits. For instance, ingesting acetaminophen, the active ingredient in Tylenol, in large doses, even in different pill combinations, cause liver damage. Hence, vendors are developing products such as central fill pharmacy automation, which help in reducing medication errors. It allows a patient to monitor the time of medication and the exact dose of medication ingested with features such as color coding, braille for the blind, and a locking mechanism to prevent double dosing. Thus, the need to reduce the risk of medication error will drive the growth of the market during the forecast period. Here is an exclusive report talking about market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!

Central Fill Pharmacy Automation Market 2023-2027 - Market Dynamics

• Trend – The increasing adoption of automation in healthcare is identified as the key trend in the market. The adoption of automation technologies in the healthcare industry is increasing with the rising need for cost-saving and generating precise results. Automated solutions help save time for healthcare professionals as they replace manually intensive tasks and allow them to devote more time to patient consultation and precision in diagnosis. It improves pharmacy productivity as it reduces the chances of human error. Automation systems such as medication dispensing systems can be customized with spacious drawers. They can be combined in various configurations and can manage a pharmacy's unique needs. The efficiency and effectiveness provided by such systems are increasing their adoption in the healthcare industry, which is positively impacting market growth.
• Challenge – Stringent government regulations for the approval of pharmacy automation systems will challenge the growth of the market. Central fill pharmacy automation solutions must abide by the guidelines jointly set by regulatory authorities before commercialization. It also requires the pharmacy to notify the board and the department prior to using an automated pharmacy system. The pharmacy must provide information such as the name and address of the pharmacy, the hours of operation of the system, the type or name of the system, and a description of how the pharmacy would use the system. These laws and regulations vary across countries, which is a major challenge faced by vendors. In addition, any changes in the regulatory policies by different governing bodies during the product development period could delay the launch of products. Such challenges reduce the growth potential of the market.

Central Fill Pharmacy Automation Market 2023-2027: Market Segmentation

The central fill pharmacy automation market is segmented by application (inpatient pharmacy, outpatient pharmacy, and retail pharmacy), type (equipment and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market growth in the inpatient pharmacy segment will be significant over the forecast period. The segment is driven by the increasing number of patients for treatment and pharmacological actions for health improvement. The increasing usage of patient care and strong government backing are other factors driving the growth of the segment.

North America will account for 39% of the market growth during the forecast period. Factors such as high awareness and the affordability of central fill pharmacy automation products are driving the growth of the regional market. In addition, factors such as the expanding geriatric population and the high prevalence of chronic diseases such as Alzheimer's disease, diabetes, and cardiovascular diseases (CVDs) have resulted in the increased demand for central fill pharmacy automation for managing complex medication regimens in North America.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

The central fill pharmacy automation market covers the following areas:

• Central Fill Pharmacy Automation Market Sizing
• Central Fill Pharmacy Automation Market Forecast
• Central Fill Pharmacy Automation Market Analysis

Companies Mentioned

• ARxIUM Inc. - The company offers central fill pharmacy automation namely FastFill 54.
• Becton Dickinson and Co. - The company offers central fill pharmacy automation through its subsidiary Parata Systems LLC.
• Capsa Healthcare LLC - The company offers central fill pharmacy automation namely RoboPharma Central Filling.
• Gebr. Willach GmbH - The company offers central fill pharmacy automation through its subsidiary Willach Pharmacy Solutions GmbH.
• Agilent Technologies Inc.
• Cornerstone Automation Systems LLC
• FORMULATRIX Inc.
• Innovation Associates
• KUKA AG
• LABEL ELETTRONICA S.R.L.
• McKesson Corp.
• Noritsu America Corp.
• Omnicell Inc.
• Oracle Corp.
• Quality Manufacturing Systems Inc.
• Rxsafe LLC
• ScriptPro LLC
• Sensum d.o.o.
• Tension Corp.
• Yuyama USA Inc.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global central fill pharmacy automation market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global central fill pharmacy automation market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Inpatient pharmacy - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Inpatient pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Inpatient pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Inpatient pharmacy - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Inpatient pharmacy - Year-over-year growth 2022-2027 (%)

• 6.4 Outpatient pharmacy - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Outpatient pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Outpatient pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Outpatient pharmacy - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Outpatient pharmacy - Year-over-year growth 2022-2027 (%)

• 6.5 Retail pharmacy - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Retail pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Retail pharmacy - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Retail pharmacy - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Retail pharmacy - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 47: Chart on Type - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 49: Chart on Comparison by Type
• Exhibit 50: Data Table on Comparison by Type

• 7.3 Equipment - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Equipment - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 59: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027 
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 ARxIUM Inc.
• Exhibit 112: ARxIUM Inc. - Overview
• Exhibit 113: ARxIUM Inc. - Product / Service
• Exhibit 114: ARxIUM Inc. - Key offerings

• 12.4 Becton Dickinson and Co. 
• Exhibit 115: Becton Dickinson and Co. - Overview
• Exhibit 116: Becton Dickinson and Co. - Business segments
• Exhibit 117: Becton Dickinson and Co. - Key news
• Exhibit 118: Becton Dickinson and Co. - Key offerings
• Exhibit 119: Becton Dickinson and Co. - Segment focus

• 12.5 Capsa Healthcare LLC
• Exhibit 120: Capsa Healthcare LLC - Overview
• Exhibit 121: Capsa Healthcare LLC - Product / Service
• Exhibit 122: Capsa Healthcare LLC - Key offerings

• 12.6 Cornerstone Automation Systems LLC 
• Exhibit 123: Cornerstone Automation Systems LLC - Overview
• Exhibit 124: Cornerstone Automation Systems LLC - Product / Service
• Exhibit 125: Cornerstone Automation Systems LLC - Key offerings

• 12.7 Gebr. Willach GmbH
• Exhibit 126: Gebr. Willach GmbH - Overview
• Exhibit 127: Gebr. Willach GmbH - Product / Service
• Exhibit 128: Gebr. Willach GmbH - Key offerings

• 12.8 KUKA AG
• Exhibit 129: KUKA AG - Overview
• Exhibit 130: KUKA AG - Business segments
• Exhibit 131: KUKA AG - Key offerings
• Exhibit 132: KUKA AG - Segment focus

• 12.9 McKesson Corp.
• Exhibit 133: McKesson Corp. - Overview
• Exhibit 134: McKesson Corp. - Business segments
• Exhibit 135: McKesson Corp. - Key offerings
• Exhibit 136: McKesson Corp. - Segment focus

• 12.10 Noritsu America Corp. 
• Exhibit 137: Noritsu America Corp. - Overview
• Exhibit 138: Noritsu America Corp. - Product / Service
• Exhibit 139: Noritsu America Corp. - Key offerings

• 12.11 Omnicell Inc.
• Exhibit 140: Omnicell Inc. - Overview
• Exhibit 141: Omnicell Inc. - Product / Service
• Exhibit 142: Omnicell Inc. - Key offerings

• 12.12 Oracle Corp.
• Exhibit 143: Oracle Corp. - Overview
• Exhibit 144: Oracle Corp. - Business segments
• Exhibit 145: Oracle Corp. - Key news
• Exhibit 146: Oracle Corp. - Key offerings
• Exhibit 147: Oracle Corp. - Segment focus

• 12.13 Quality Manufacturing Systems Inc. 
• Exhibit 148: Quality Manufacturing Systems Inc. - Overview
• Exhibit 149: Quality Manufacturing Systems Inc. - Product / Service
• Exhibit 150: Quality Manufacturing Systems Inc. - Key offerings

• 12.14 Rxsafe LLC
• Exhibit 151: Rxsafe LLC - Overview
• Exhibit 152: Rxsafe LLC - Product / Service
• Exhibit 153: Rxsafe LLC - Key offerings

• 12.15 ScriptPro LLC
• Exhibit 154: ScriptPro LLC - Overview
• Exhibit 155: ScriptPro LLC - Product / Service
• Exhibit 156: ScriptPro LLC - Key offerings

• 12.16 Tension Corp.
• Exhibit 157: Tension Corp. - Overview
• Exhibit 158: Tension Corp. - Product / Service
• Exhibit 159: Tension Corp. - Key offerings

• 12.17 Yuyama USA Inc.
• Exhibit 160: Yuyama USA Inc. - Overview
• Exhibit 161: Yuyama USA Inc. - Product / Service
• Exhibit 162: Yuyama USA Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

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