Central Fill Pharmacy Automation Is Estimated To Witness High Growth Owing To Increasing Need For Improving Medication Dispensing Accuracy

Central Fill Pharmacy Automation Market

 

The global Central Fill Pharmacy Automation Market is estimated to be valued at US$ 466.82 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Central fill pharmacy automation systems help to reduce labor costs, increase productivity and improve medication safety through robotic dispensing systems. Central fill pharmacies play a vital role in increasing overall efficiency of filling prescriptions by automating various drug packaging processes.

 

Market key trends:

One of the key trends in the central fill pharmacy automation market is the growing integration of artificial intelligence. AI is helping automate decision making related to inventory management, drug dispensing and package sorting. It enables tracking orders in real-time and ensures timely delivery of medications. AI analyses huge amounts of data to optimize workflows. Machine learning algorithms also help gain insights into patterns of drug usage to forecast future demand more accurately. This significantly improves overall efficiency of central fill pharmacies.

Segment Analysis

The global central fill pharmacy automation market is segmented into product, end-user, and region. Based on product, the segment is classified into medication dispensing system, packaging and labeling systems, and tabletop counters. Among these, the packaging and labeling systems segment dominated the market in 2022 due to rising adoption of these systems by hospitals and pharmacies to eliminate errors during packaging and labeling of medications.

 

Key Takeaways

The global central fill pharmacy automation market is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing focus on reducing medication errors and enhancing workflow efficiency in pharmacies.

 

Regional analysis

Regionally, North America dominated the central fill pharmacy automation market in 2022 by accounting for around 40% share of the global market. This is majorly due to well-established healthcare infrastructure and presence of leading market players in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to rising geriatric population, increasing investments by market players, and growing need to reduce healthcare costs in the region.

 

Key players

Key players operating in the central fill pharmacy automation market are Omnicell, ARxIUM, ScriptPro, Cardinal Health, Parata Systems, RxSafe, LLC, Tension Packaging & Automation, McKesson Corporation, Cornerstone Automation Systems, LLC, Quality Manufacturing Systems, Inc., Noritsu, Capsa Healthcare, Yuyama USA, and Catalyst Healthcare Ltd. These players are focusing on new product launches and strategic collaborations to stay competitive in the market.

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https://www.dailyprbulletin.com/central-fill-pharmacy-automation-market-size-share-growth-outlook-2023/

 

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