Seattle, Sept. 01, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global central fill pharmacy automation market is estimated to be valued at US$ 416.06 Million in 2022 and is expected to exhibit a CAGR of 12.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Central Fill Pharmacy Automation Market:
Key trends in the market include launch of technologically advanced solutions, increasing partnerships between market players, and growing healthcare expenditure by various healthcare regulatory organizations.
Increasing product launches of technologically advanced solutions is expected to fuel the market growth over forecast period. For instance, in August 2021, iA, a provider of software-enabled pharmacy fulfilment and automation solutions, announced the introduction of three new solutions which are Pharmacy Fulfillment, SmartPod, a therapy management solution that aid in enhancing the pharmacist-patient relationship by helping pharmacies improve fulfilment efficiencies and manage inventory while enabling pharmacy providers the ability to offer greater patient choice.
Market players are involved in strategies such as partnerships, which is expected to drive growth of the global central fill pharmacy automation market over the forecast period. for instance, in february 2020, omnicell, inc., provider of medication management solutions, and geisinger, a health and wellness organization, announced their partnership to introduce Omnicell XT automated dispensing systems to improve nurse-pharmacy workflows and medication safety and security
Moreover, growing healthcare expenditure by various healthcare regulatory organizations in the U.S. is expected to drive the growth of global central fill pharmacy automation market. For instance, according to the U.S. Centers for Medicare and Medicaid Services’ 2020 findings on the National Health Expenditure (NHE), hospital expenditure grew by 6.4% to US$ 1,270.1 billion in 2020, compared to the previous year 2019. Additionally, physician and clinical services expenditures grew 5.4% to US$ 809.5 billion in 2020, faster growth than the 4.2% in 2019.
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Increasing investments in R&D activities by market players is expected to augment the market growth over forecast period. For instance, according to the National Center for Science and Engineering Statistics (NCSES) within the National Science Foundation, in 2019, research and experimental development performed in the U.S. totaled around US$ 606.1 billion in 2018.
Key players operating in the Global Central Fill Pharmacy Automation Market include 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.
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Global Central Fill Pharmacy Automation Market, By Product Type:
Automated Packaging and Labeling Systems
Automated Storage and Retrieval Systems
Others (fully-automatic vial-filling machine, etc.)
Global Central Fill Pharmacy Automation Market, By Application:
Global Central Fill Pharmacy Automation Market, By Region:
Medical Tubing Market, by Material (Polyvinyl Chloride (PVC)), Thermoplastic Elastomer (TPE), Thermoplastic Polyurethane (TPU), Silicone, Polyolefins (Polyethylene (PE), and Polypropylene (PP)), and Others), by Application (Peristaltic Pump Tubing, Catheters (Diagnostic Catheters, Central Venous Catheters, Angioplasty Catheters, and Other Catheters), Feeding Tubes, Urological Retrieval Devices, Cannulas, and Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Central Venous Catheter Market, by Product Type (Single Lumen Central Venous Catheters, Double Lumen Central Venous Catheters, Triple Lumen Central Venous Catheters, and Quadruple Lumen Central Venous Catheters), by Placement Site (Internal Jugular Vein, Femoral Vein, and Subclavian Vein), by Application (Chemotherapy ( Operating Theater, Emergency Departments, and ICU’s), Drugs and Fluid Administration (Operating Theater, Emergency Departments, and ICU’s), Blood Transfusions (Operating Theater, Emergency Departments, and ICU’s), and Others (Operating Theater, Emergency Departments, and ICU’s)), by Location (Operating Theater, Emergency Departments, and ICU’s), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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