Press release
Central Fill Pharmacy Automation Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Central Fill Pharmacy Automation
There is an increasing demand to reduce medication errors, which is projected to fuel the expansion of the central fill pharmacy automation market. Preventable instances that could potentially lead to incorrect medication usage or jeopardize patient well-being are categorized as medication errors. The rise in such errors can be attributed to more complex healthcare systems, larger patient numbers, and the introduction of new medications. Medication dispensing process is made more streamlined by central fill pharmacy automation, ensuring the accurate and uniform preparation of prescriptions. This technology mitigates mistakes made by humans and augments efficiency when dealing with numerous prescription orders. For example, the World Health Organization, a Swiss-based intergovernmental body, stated in September 2022 that medication errors led to costs of $2.16 billion, equating to 3% of the total healthcare expenditure of the country. Moreover, an annual report reveals 237 million medication errors, with 66 million potentially bearing clinical significance. The estimated annual costs faced by the government due to preventable adverse effects of medication are approximately $106.24 million. Hence, the need to decrease medication errors is pushing forward the growth of the central fill pharmacy automation market.
Get Your Central Fill Pharmacy Automation Market Report Here:
https://www.thebusinessresearchcompany.com/report/central-fill-pharmacy-automation-global-market-report
What is the projected compound annual growth rate (CAGR) of the central fill pharmacy automation market from 2025 to 2034, and what factors influence it?
The market size of central fill pharmacy automation has seen substantial growth lately. The market, which was valued at $0.64 billion in 2024, is projected to swell to $0.71 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.9%. Factors contributing to this historic growth include a surge in prescription volume, lack of manpower, improvements in medication safety and accuracy, escalating healthcare costs, and the broadening of pharmacy services.
The size of the central fill pharmacy automation market is anticipated to significantly surge in the following years, expanding to a value of $1.1 billion by 2029 with a CAGR of 11.5%. The projected growth within the forecast period can be linked to increasing prescription needs, the focus on the safety and quality of patient care, regulatory obedience requirements and the rise of E-commerce and telepharmacy. Key trends during this anticipated growth period comprise integration with telehealth and remote care, interoperability and exchange of health information, regulatory compliance and quality assurance, along with green initiatives for sustainability.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15538&type=smp
How are the latest trends influencing the growth of the central fill pharmacy automation market?
Leading businesses in the central fill pharmacy automation market are now turning their focus towards the creation of high tech products such as cloud-based pharmacy automation in order to carve out a niche for themselves in the industry. Essentially, cloud-based pharmacy automation utilizes cloud computing technology to streamline and manage operations within the pharmacy. Taking this into perspective, Innovation Associates Inc., a U.S. based establishment that pioneers in the creation of high-volume pharmacy automation technology and software solutions, debuted Shared Central Fulfillment, a cloud-based solution in February 2024. The solution is designed to provide pharmacy fulfillment owners with the ability to centralize services to numerous pharmacy partners from one singular fulfillment center. The end goal is to create a sustainable work ecosystem for pharmacy providers which in turn progresses the pharmacist's role in healthcare management. This solution caters to the needs of both large scale and small scale pharmacy operations, allowing them to utilize central fill operations which expands prescription fulfilment solutions across several pharmacy partners from one designated fulfillment center.
What are the major segments of the central fill pharmacy automation market and their role in driving growth?
The central fill pharmacy automation market covered in this report is segmented -
1) By Product: Equipment, Software, Services
2) By Vendor: Equipment Vendor, Consulting Vendor
3) By Application: Inpatient Pharmacy, Outpatient Pharmacy, Retail Pharmacy, Other Applications
Subsegments:
1) By Equipment: Robotic Dispensing Systems, Automated Medication Storage Systems, Barcode Scanning Systems, Medication Counting Machines, Automated Labeling Systems, Packaging Systems, Other Pharmacy Automation Equipment
2) By Software: Prescription Management Software, Inventory Management Software, Workflow Management Software, Data Analytics And Reporting Software, Medication Verification Software, Integration And Interoperability Software, Cloud-Based Software Solutions
3) By Services: Installation And Configuration Services, Maintenance And Support Services, Consulting Services, Training Services, Managed Services, System Upgrades And Customization Services
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15538
North America was the largest region in the central fill pharmacy automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the central fill pharmacy automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the central fill pharmacy automation market?
Major companies operating in the central fill pharmacy automation market are McKesson Corporation, Cencora Inc., Cardinal Health Inc., Becton Dickinson and Company, Grifols SA, Kuka AG, J M Smith Corporation, Omnicell Inc., Swisslog Healthcare, Parata Systems LLC, ScriptPro LLC, PBA Health, Capsa Healthcare, Cornerstone Automation Systems LLC, ARxIUM Inc., Talyst LLC, Kirby Lester, Quality Manufacturing Systems Inc., R/X Automation Solutions, RxSafe LLC, Innovation Associates Inc.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=15538&type=smp
What Is Covered In The Central Fill Pharmacy Automation Global Market Report?
•Market Size Forecast: Examine the central fill pharmacy automation market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the central fill pharmacy automation market for a structured understanding.
•Key Players Overview: Analyze major players in the central fill pharmacy automation market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the central fill pharmacy automation market.
•Segment Contributions: Evaluate how different segments drive overall growth in the central fill pharmacy automation market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the central fill pharmacy automation market.
•Industry Challenges: Identify potential risks and obstacles affecting the central fill pharmacy automation market.
•Competitive Landscape: Review strategic developments in the central fill pharmacy automation market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
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 Central Fill Pharmacy Automation Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers here
News-ID: 3922722 • Views: …
More Releases from The Business Research Company
Surgical Meshes Market Landscape to 2034: Key Forces Shaping the Next Decade of …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Surgical Meshes Market Size By 2025?
In the past few years, the market size of surgical meshes has seen significant growth. It is projected to expand from $2.03 billion in 2024 to $2.18 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 7.3%.…
Rehabilitation Equipment Market Poised to Hit $23.97 Billion by 2029 with Accele …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Rehabilitation Equipment Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a significant growth in the size of the rehabilitation equipment market. Projected to increase from $17.36 billion in 2024, it is expected to reach $18.49 billion in 2025, with a compound annual…
Future of the Pediatric Neurology Device Market: Strategic Analysis and Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Pediatric Neurology Device Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for pediatric neurology devices has seen significant expansion in recent years, climbing from $2.5 billion in 2024 to an anticipated $2.65 billion in 2025, reflecting a compound annual growth rate (CAGR)…
Key Trends Influencing the Growth of the Orthokeratology Lens Market in 2025: In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Orthokeratology Lens Market Through 2025?
The market for orthokeratology lenses has seen a significant increase in size over recent years. It's projected to expand from $2.56 billion in 2024 to $2.75 billion in 2025, with a compound annual growth rate (CAGR) of…
More Releases for Pharmacy
Pharmacy Automation Systems Market Analysis By Top Keyplayers - Inpatient Pharma …
The "Pharmacy Automation Systems Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Pharmacy Automation Systems Market, 2024-2031
Verified Market Research's most recent report, "Pharmacy Automation Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides…
Convenient and reliable online pharmacy - Onlinepills pharmacy
Onlinepills Pharmacy is a trusted and reliable online pharmaceutical company that has been serving the global community for over a decade. Onlinepills Pharmacy ensures and prioritizes customer interest with premium customer assistance and the best offers on prescription medicines.
Key Benefits at Onlinepills Pharmacy:
• No prescriptions are asked to order medicines.
• Genuine medicines at the best price.
• Medicines undergo quality checks before shipping in discreet and safe packages.
• Tracking details are provided after shipping…
Pharmacy Compounding For Veterinary Medicine Market Next Big Thing | Medisca, Lo …
Worldwide Pharmacy Compounding For Veterinary Medicine Market In-depth Research Report 2021, Forecast to 2026 is the latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities, and leveraging with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Worldwide Pharmacy Compounding For Veterinary Medicine Market. Some of the key players…
Compounding Pharmacy Market Competitive Outlook Covering COVID-19 Impact | Lorra …
The role of compounding pharmacies is to make drugs prescribed by doctors for specific patients with needs that can't be met by commercially available drugs in the market. Compounded drugs are the amalgamation of two or more drug ingredients in different proportions, i.e., combining or altering the active pharmaceutical ingredients of drugs to meet the unmet medical need of an individual patient. The major driver of compounding pharmacies market is…
Compounding Pharmacy Market SWOT Analysis by Key Players: Olympia Pharmacy, Wedg …
Latest Market intelligence report released by HTF MI with title "Global Compounding Pharmacy Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)" is designed covering micro level of analysis by manufacturers and key business segments. The Global Compounding Pharmacy Market survey analysis offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is…
U.S. Compounding Pharmacies Market Global Key Players - Premier Pharmacy Labs, R …
Endowed with numerous regulatory compliances, the U.S. compounding pharmacies market has been traversing toward becoming one of the most profitable business spaces. Owing to the lack of safety and absence of clinical clearances, compounded medications have been under stringent scrutiny that has been helping players in the U.S. compounding pharmacies to strengthen their existing manufacturing practices. The surging use of compounded medicines for pain relief and hormone replacement therapies is…
