May 29, 2024
Central Fill Pharmacy Automation Market

The Central Fill Pharmacy Automation Market Is Driven By Growing Demand For Efficient Prescription Filling

Central fill pharmacy operations are growing in popularity due to their ability to efficiently manage and fulfill high prescription order volumes across multiple locations. Central fill pharmacies operate separate processing centers or centralized hubs that consolidate dispensing operations from multiple retail locations. These centers utilize automated systems that streamline the prescription fulfillment process to accurately and efficiently label, package, and distribute medications to spokes or customer-facing pharmacies for pickup or delivery. Automation helps reduce errors, improves productivity, and optimizes pharmacy staff allocation. The utilization of central fill pharmacy automation systems allows the processing of thousands of prescriptions daily while upholding the highest patient safety standards.

The global Central Fill Pharmacy Automation Market is estimated to be valued at US$ 505 million in 2023 and is expected to exhibit a CAGR of 5.9%  over the forecast period 2023-2033, 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 adoption of robotic dispensing systems. These systems utilize robotic arms, carousels and other mechanisms to accurately pick, verify and package medications. They can process a large volume of prescriptions with minimal human intervention thus reducing errors. For example, Swisslog’s Central Fill Robotic system claims to fill over 300 prescriptions per hour with 99.99% accuracy. Adoption of such robotic systems is growing among large pharmacies and healthcare providers to gain efficiencies through automation.

Porter’s Analysis

Threat of new entrants: High upfront costs involved in setting up automation equipment and software solutions pose moderate threat of new entrants.

Bargaining power of buyers: Moderate bargaining power of healthcare providers and pharmacy benefit managers who demand advanced automation solutions at competitive costs.

Bargaining power of suppliers: Low to moderate bargaining power of suppliers due to the presence of numerous pharmacy automation equipment providers.

Threat of new substitutes: Low threat of substitution as centralized fill pharmacy automation provides immense benefits over traditional pharmacy practices.

Competitive rivalry: High rivalry exists among key players offering advanced solutions to gain higher market share.

Key Takeaways

The global Central Fill Pharmacy Automation Market Demand is expected to witness high growth. The global Central Fill Pharmacy Automation Market is estimated to be valued at US$ 505 million in 2023 and is expected to exhibit a CAGR of 5.9%  over the forecast period 2023-2033.

Centralized fill pharmacy automation solutions lower the costs of manual filling, counting, and repackaging of medications. The North America region currently dominates the market due to high adoption rates among healthcare facilities to reduce medication errors and improve filling efficiency.

Key players operating in the Central Fill Pharmacy Automation market are Omnicell, Inc., ARxIUM, Innovation Associates, ScriptPro, Kuka AG, RxSafe, LLC, Tension Packaging & Automation, McKesson Corporation, TCGRx.

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