Global Central Fill Pharmacy Automation Market Size, Share & Growth is Projected to Reach Worth USD 777.1 Million in 2027 | BlueWeave
A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the global central fill pharmacy automation market was worth USD 405.3 Million in 2020 and anticipated to reach the valuation of USD 777.1 Million at a CAGR of 10.3% by 2027. Automation in the pharmacy sector is expected to contribute to market growth. Additionally, the rising prevalence of chronic diseases in many regions has increased the burden on pharmacies, especially in the United States, which has the maximum number of obese and elderly populations. Moreover, with reduced medication errors and labor costs, central fill pharmacy automation is gaining popularity. With pharmacy automation, dispensing robots are now cost-effective for pharmacies with prescriptions as low as 150 per day. Additionally, specialty drugs delivered through central fill pharmacies have provided the market with new growth opportunities.
Browse report URL for more information about global central fill pharmacy automation market @ https://www.blueweaveconsulting.com/report/global-central-fill-pharmacy-automation-market
Growing Patient Pool Driving Market Demand
Globally, the patient pool is expanding at an accelerating pace. The rise in chronic diseases, infections, and immunological illnesses contributes to the increasing patient base. Additionally, the growing geriatric population is also driving the market. According to the UN Population Division, the global aging population will increase to 2 million by 2050. These factors have increased the burden on pharmacists around the world. Automation in dispensing and other pharmacy services has enhanced efficiency & dispensing time, reduced medication errors, improved safe packaging of drugs, and more. For instance, the BoxPicker by Swisslog Healthcare provides automated pharmacy storage and retrieval of medication systems. It eliminates picking errors and improves safety at dispensing, thereby stimulating market growth.
Technological Advancements Promoting the Market to Consumers
The ever-evolving advancements in the central fill pharmacy automation market have further promoted its significance in the pharmacy sector. The RoboPharma central fill pharmacy automation system is capable of filing upto 100,000 prescriptions per day. One of the benefits of robotic dispensing is its ability to dispense up to 300 prescription scripts each day with a single technician handling everything. Such innovative solutions have revolutionized the pharmacy automation industry and popularised the central fill pharmacy automation market. Furthermore, these advancements have increased the quality of patient care and digital healthcare.
Browse TOC with Facts and Figures @ https://www.blueweaveconsulting.com/report/global-central-fill-pharmacy-automation-market/toc
Automated Medication Dispensing System Segment Leading the Market.
The central fill pharmacy automation market is segmented into software, equipment, and services based on products and services. The equipment segment is further divided into automated medication dispensing systems, integrated workflow automation systems, automated packaging &labeling systems, automated medication compounding systems, automated tabletop counters, automated storage and retrieval systems, and others. On the other hand, the services segment has been further categorized into consulting, facility designing, custom software development, and others. Automated medication dispensing systems accounted for the most significant share of the market in 2020. They consist of mini-drawers that are stocked per patient by the pharmacy. Almost 90% of pharmacy inventory can be stored in a cabinet using new technology. Secure access ensures that only authorized persons can open the drawer and that only specific quantities of medication are accessible. This segment is high in demand as it reduces medication errors and avoids drug abuse in hospital & clinic settings.
Impact of COVID-19
The COVID-19 pandemic has had a positive impact on the central fill pharmacy automation market. Automation has become commonplace in many industries in response to the loss of the workforce. Social distancing norms and the need to reduce labor costs have resulted in the implementation of central fill pharmacy automation systems in many pharmacies around the world. During the Coronavirus pandemic, ScrpitPro enabled pharmacists to manage workflow and pharmacy operations remotely from their homes and other locations using workflow platforms and pharmacy management software. The current focus on digital healthcare has further fuelled the demand for central fill pharmacy automation in the market.
North America Dominates the Cenral Fill Pharmacy Automation Market
The central fill pharmacy automation market is categorized into North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Among these, North America leads the market with the highest market share in 2020. Growing numbers of pharmacies in this region have driven the growth of the central fill pharmacy automation market. Nearly 23% of the population of the United States takes three or more medications daily. However, the European region is expected to witness the most significant growth in the central fill pharmacy automation market during the forecast period. The introduction of specialty drugs in this region dispensed by central fill pharmacy has driven the market's growth, especially in the United Kingdom, Germany, and Spain.
Request For Free Sample Report @ https://www.blueweaveconsulting.com/report/global-central-fill-pharmacy-automation-market/report-sample
Various global and regional players compete in the central fill pharmacy automation market, which is slightly competitive and highly fragmented. The key players dominating the market are ARxIUM, Inc., RXSAFE, LLC, TCGRX Pharmacy Workflow Solutions, Omnicell, Inc., McKesson Corporation, ScriptPro, Kuka AG, Innovation Associates Inc., R/X Automation Solutions, Tension Packaging & Automation, Cornerstone Automation Systems, LLC, Quality Manufacturing Systems Inc., Capsa Healthcare, Synergy Medical, Providen Logistics Ltd., and other prominent players. The critical marketing strategies adopted by the players include new launches, partnerships, and collaborations to expand their clientele base. For example, in June 2021, Pack4U, a medication delivery company, opened a central fill hub in Saskatchewan, allowing pharmacies to go digital and improve patient care.
Don’t miss the business opportunity of the global Central Fill Pharmacy Automation market. Consult our analysts to gain crucial insights and facilitate your business growth.
The report's in-depth analysis provides information about growth potential, upcoming trends, and statistics of theglobal Central Fill Pharmacy Automation market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global Central Fill Pharmacy Automation market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Please find below some related reports:
BlueWeave Consulting & Research Pvt. Ltd
US: +1 866 658 6826 | +1 425 320 4776
UK: +44 1865 60 0662
Email – firstname.lastname@example.org
LinkedIn Page: https://www.linkedin.com/company/blueweaveconsulting/
112 - H160 - BSI Business Park Sector - 63, Noida U.P. - India
BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Central Fill Pharmacy Automation Market Size, Share & Growth is Projected to Reach Worth USD 777.1 Million in 2027 | BlueWeave here
News-ID: 2381687 • Views: 256
More Releases from BlueWeave Consulting & Research Pvt Ltd.
United States Enhanced Water Market Size, Share Growth is Projected to Growing a …
The United States enhanced water market is growing at high rate because of the rising health awareness and the need for additional nutritional supplements in the body due to a busy lifestyle.... A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the US enhanced water market was worth USD 2,131.0 million in the year 2020. The data yielded by the study reveals that the
Global Electronic Bill Presentment and Payment (EBPP) Market Size & Share is Gro …
Electronic bill presentment and payment (EBPP) market is being driven by factors such as globalization, businesses expanding overseas, and consumers increasingly using plastic money. Market growth is also driven by the use of high-speed internet access on smart phones... A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global electronic bill presentment and payment (EBPP) market was worth 18.5 number of bills in
Global Fatty Alcohol Market Size & Share is Predicted to Garner USD 8.4 Billion …
The global fatty alcohol market is growing at a high CAGR because of the increasing demand for bio-based renewable products to promote sustainability and control dependence on non-renewable products such as petrochemicals... A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global fatty alcohol market was worth USD 5.5 billion in the year 2020. The market is estimated to grow at a CAGR
Global Medical Goggle Market Size, Share & Growth is Projected to Grow at a CAGR …
The global medical goggle market is growing at a high CAGR because of the increasing demand for surgical procedures and prevalence of infectious diseases and stringent regulations regarding the safety of healthcare workers... A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global medical goggle market was worth USD 443.4 million in the year 2020. The data generated by the study reveals that
More Releases for Automation
Global Substation Automation Market
This report studies the Substation Automation market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. The demand of Substation Automation is increasing now. The global Substation Automation market was xx million US$ in
Global Lab Automation Industry
Global Lab Automation Industry Latest Report on Lab Automation Market Global Analysis & 2021 Forecast Research Study Lab Automation Market Analysis Automation is one of the best weapon in the life science laboratory due to the growing demands for productivity in speed, accuracy, throughput and efficiency. Helped by advance technology, contemporary automated systems are already adept of a wide range of functions that were previously performed by slow, tedious and manual labor. Instrumentation
Test Automation Market
Test automation is being utilized in software for comparing the tangible outcomes with expected software outcomes. Automatically, there are various tools that help in operation of controlling the test execution. Software testing which is done manually through which person operates on the computer and go through several stages needed for testing purpose such as trying various usage, application screens, and input combinations that compares the results to be projected behavior
Pharmacy Automation Market
Pharmacy automation is a mechanical process where handling and distribution of medications takes place in hospital pharmacy or at retail pharmacy. It includes any pharmacy task that involves counting of small objects such as tablets or capsules, measuring and mixing of powders and liquids for compounding, tracking and updating customer information in databases such as personally identifiable information (PPI), drug interaction risk detection, medical history and inventory management. The pharmacy
Global Automation Instrumentation Market
Automation is the use of several control systems for operating equipment such as boilers and heat treating ovens, machinery, switching in telephone networks, stabilization and steering of aircraft, ships and other applications with reduced or minimal human intervention. Automation saves labor and energy and improves quality and precision. Automation can be broadly divided into process and discrete automation. Instrumentation is the science and art of control and measurement of
India Home Automation Market,
Renub Research report about India Home Automation Market by Types (Lighting, Security, Heating, Ventilating and Air Conditioning, HVAC, Entertainment) By User (Residential, Commercial & Hospitality) Company Profiles & Forecast. According to this research India Home Automation Market is expected to cross the figure of INR 30,000 Crore by 2022. Home Automation in India is creating big opportunity not only for Indian automation companies, but also for foreign companies. At present