Central Fill Pharmacy Market - Global Forecast to 2024
The Central Fill Pharmacy Market, in terms of value, is projected to grow at a CAGR of XX% from 2019 to 2024. The market is estimated to be USD XX Billion in 2018, and is projected to reach XX Billion by 2024. In this study, 2018 has been considered the base year, and 2019 to 2024 the forecast period, for estimating the market size of the global market.
Date : 2019-11-01
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OBJECTIVES OF THE STUDY
- To define, describe, and forecast the Central Fill Pharmacy Market in different segmentations
- To forecast the market size in terms of value for various segments with respect to four main regions: North America, Europe, APAC, and RoW
- To provide detailed information regarding the major factors influencing the growth of the Central Fill Pharmacy Market (drivers, restraints, opportunities, and industry-specific challenges)
- To provide a detailed overview of the value chain in the Central Fill Pharmacy Market and analyze the market trends with Porter’s five forces analysis
- To analyze the opportunities in the market for various stakeholders by identifying the high-growth segments of the Central Fill Pharmacy Market
- To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
- To analyze competitive developments such as new product launches and developments; agreements and contracts; mergers and acquisitions; and expansions in the global Central Fill Pharmacy Market
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Central Fill Pharmacy Automation: Market Overview
4.2 Central Fill Pharmacy Automation Market: Geographic Growth Opportunities
4.3 Regional Mix: Central Fill Pharmacy Automation Market
5 Market Overview
5.2 Market Dynamics
5.3 Market Trend
5.4 Regulatory Landscape
6 Central Fill Pharmacy Automation Market, By Product & Service
7 Central Fill Pharmacy Automation Market, By Vendor
7.2 Equipment Vendors
7.3 Consulting Vendors
8 Central Fill Pharmacy Automation Market, By Region
8.2 North America
8.4 Asia Pacific
8.5 Rest of the World
9 Competitive Landscape
10 Company Profiles
10.1 Mckesson Corporation
10.2 Omnicell, Inc.
10.3 Arxium, Inc.
10.5 Scriptpro LLC
10.6 Tcgrx Pharmacy Workflow Solutions
10.7 Rxsafe, LLC.
10.8 Kuka AG
10.9 Tension Packaging & Automation
10.10 R/X Automation Solutions
10.11 Cornerstone Automation Systems, LLC. (CASI)
10.12 Quality Manufacturing Systems, Inc. (QMSI)
*Business Overview, Products Offered, Recent Developments Might Not Be Captured in Case of Unlisted Companies.
By product and service, the equipment segment is expected to account for the largest share of the central fill pharmacy automation market
The central fill pharmacy automation market, by product and service, is segmented into equipment, services, and software. The equipment segment accounted for the largest market share in 2019. A number of automated systems are used in facilities offering the advantages of freeing up manpower, allowing greater throughput, and increasing the number of processed prescriptions. These facilities form an indispensable tool for central fill pharmacies to improve the prescription assembly, verification, and delivery back to the pharmacy. This contributes to the large share of the segment.
The equipment vendors are increasing with the increasing demand for automation systems
Based on vendor, the central fill pharmacy automation market is segmented into equipment vendors and consulting vendors. The equipment vendors segment is estimated to account for the largest market share in 2019. This is mainly attributed to their broad product portfolio, vast geographic presence, strong technical expertise, and easy access to spare parts (resulting in reduced downtime).
North America is expected to dominate the central fill pharmacy automation market during the forecast period
In 2019, North America dominated the central fill pharmacy automation market, followed by Europe, and this trend is expected to continue during the forecast period. The rising focus on providing value-based care to patients, increase in specialty medication dispensing, growing number of medication errors, and the need for automated systems for improved compounding and dispensing are major factors that have resulted in the increased adoption of central fill pharmacy automation equipment and services in North America.
Prominent players in the central fill pharmacy automation market are ARxIUM, Inc. (US), RxSafe, LLC (US), TCGRX Pharmacy Workflow Solutions (US), McKesson Corporation (US), Omnicell, Inc. (US), ScriptPro (US), Kuka AG (Germany), Innovation (US), R/X Automation Solutions (US), Tension Packaging & Automation (US), Cornerstone Automation Systems, LLC (CASI, US), and QMSI (US)