May 29, 2024

“The Global Central Fill Pharmacy Automation Market Is Driven By Rise In Prescription Volumes Across Various Therapeutic Areas”

Central fill pharmacy involves preparation of individual patient prescriptions in a centralized pharmacy location and delivering those to local pharmacies for pick-up by patients. Central fill pharmacies use automation in picking, verification and labeling of medications to increase efficiency. This process allows for better control over inventory, improved safety and accuracy in filling prescriptions. Central fill pharmacies use robotic dispensing systems, carousels and countertop packaging equipment for automation. The growing demand for specialty and complex drugs like oncology medications has increased the need for accuracy in dispensing at pharmacies. Central fill allows pharmacists to focus more on patient care activities rather than repetitive tasks like counting and labeling pills.

The global Central Fill Pharmacy Automation Market is estimated to be valued at US$ 537.78 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the central fill pharmacy automation market is the rise in adoption of robotic dispensing systems. Robotic dispensing allows automatic counting, sorting and labeling of multi-dose medication with improved accuracy compared to manual methods. They ensure consistent performance while reducing dispensing errors. Companies are developing robotic systems integrated with artificial intelligence that can optimize workflows and efficiently adapt to changing prescription patterns. Furthermore, growth in specialty pharmacies is driving demand for high volume medication preparation. Specialty drugs require complex handling and specific storage conditions, creating need for advanced automation solutions in central fill pharmacies. Customizable automation solutions allow specialty pharmacies to efficiently prepare high volumes of specialty medication for distribution.

Porter’s Analysis
Threat of new entrants: Low since there is high capital requirement to set up automation infrastructure.
Bargaining power of buyers: Moderate since buyers have limited suppliers and need for automation but individual orders are relatively small.
Bargaining power of suppliers: Moderate as there are few key automation technology providers but they also require buyers.
Threat of new substitutes: Low as there are limited alternatives to automate high-volume pharmaceutical order filling.
Competitive rivalry: High since major players compete for market share and provide additional integrated digital solutions.

Key Takeaways
The Global Central Fill Pharmacy Automation Market Growth is expected to witness high. The global Central Fill Pharmacy Automation Market is estimated to be valued at US$ 537.78 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

North America dominates the market currently due to advances in healthcare infrastructure and pharmacy automation adoption. Asia Pacific is expected to grow at fastest pace due to increasing patient pool and focus on reducing medication errors.

\Key players operating in the Central Fill Pharmacy Automation Market are Ostara Nutrient Recovery Technologies Inc., Nutrient Recovery & Upcycling LLC, Cambi AS, AgriProtein Holdings Ltd., Anuvia Plant Nutrients, Ostrevent, Veolia, BioHiTech Global Inc., DVO, Inc., AgriReNew, Inc., Smithfield Foods, Inc., Aqua Green, Elemental Enzymes, Suez, Bioprocess Control.

Market players focus on technological advances for automated high-volume order fulfillment. Strategic partnerships allow integration of automation solutions within pharmacy workflows. Innovation is focused on speed, accuracy and expanding to additional medication inventory management.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it