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Outpatient Central Fulfillment Market is expected to reach US$ 725.79 million by 2030

Outpatient central fulfillment market is anticipated to cross USD 725.79 million by 2030| Insights on trends, shares and forecast

By The Insight Partners

According to our new research study on “Outpatient Central Fulfillment Market Forecast to 2030 – Global Analysis – by Product Type, End User, and Geography,” the outpatient central fulfillment market size is expected to grow from US$ 309.32 million in 2022 to US$ 725.79 million by 2030; it is anticipated to register a CAGR of 11.3% from 2022 to 2030. Factors such as automation in pharmacies and risk of medication errors propel the market growth. However, the high capital requirements and problems associated with automation system operations impede the outpatient central fulfillment market growth.

The global outpatient central fulfillment market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market in North America is expected to grow at a CAGR of 8.3% from 2022 to 2030. The North America market is segmented into the US, Canada, and Mexico. Market growth in this region is attributed to the increasing adoption of pharmacy automation solutions in the US, rising public health awareness, surge in strategic initiatives by governments, and the presence of leading pharmacy automation vendors. The US is the largest contributor to the outpatient central fulfillment market in North America. With the growing burden on pharmacies, the frequency of medication errors also increases in the country. Thus, the outpatient central fulfillment market growth in the US is mainly attributed to rising concerns among medical professionals with an upsurge in medication errors and an increasing demand for pharmaceutical products. Capsa Healthcare, headquartered in Portland (US), focuses on developing medication carts, computer carts, medical carts, wall-mounted workstations, and prescription tablet counters. In July 2023, the company acquired MASS Medical Storage. The acquisition of MASS Medical Storage provided Capsa with expertise in making medical storage and endoscope cabinet drying systems. In 2021, Rx Billing Genie, LP launched the Rx Billing Genie app. The company’s collaboration with the Canadian Pharmacists Association drives the adoption of the Rx Billing Genie app nationwide. In Mexico, the growing medical tourism, leading to a surge in medicine prescriptions, provides vital growth opportunities to the outpatient central fulfillment market.

Automation in Pharmacies Drives Outpatient Central Fulfillment Market

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00037800

Pharmacy automation has become one of the most flourishing segments of the healthcare sector. The automation technology can improve patient care and increase efficiency by automating pharmacy tasks and processes. According to a study by Visionary Insights, automation in pharmacies was predicted to increase by 22% through 2021. This rise is owing to the growing need for precise and efficient dispensing, and the increasing number of specialty medication dispensing operations. A study by Oracle Cerner states that the automated dispensing of specialty medications is one of the most performed tasks in pharmacies. The study also states that pharmacy automation can improve accuracy (and reduce errors), speed up the process, and improve patient care. Pharmacists also adopt technologies to automate certain other tasks than dispensing, e.g., inventory management. Automated inventory systems can help pharmacies track and manage their inventory more accurately, which boosts the outpatient central fulfillment market growth.

Leading pharmacy automation system vendors continuously focus on developing and introducing their innovations. In February 2021, Omnicell Inc. announced the launch of its Medimat, a next-generation, automated dispensing system for retail pharmacies. It has been built for improved patient safety, efficient time utilization, and financial savings. Similarly, in August 2021, innovativeAspirations (iA), a commercial provider of software-enabled pharmacy fulfillment and automation solutions, launched three solutions integrated with Medimat’s NEXiA technology to manage the fulfillment of prescribed medicines centrally. iA has also introduced SmartPod, a next-generation robot with a modular autofill unit. SmartPod allows pharmacy providers to adjust and scale their centralized fulfillment solutions. Thus, the growing adoption of automation in pharmacies with the introduction of next-generation automated systems fuels the outpatient central fulfillment market.

Product Type Overview

Based on product type, the outpatient central fulfillment market is segmented into automated medication dispensing systems, automated packaging and labeling systems, automated tabletop counters, automated storage and retrieval systems, and other types. The automated medication dispensing systems segment held the largest outpatient central fulfillment market share in 2022. The same segment is expected to register the highest CAGR of 12.0% during 2022–2030.

An automated medication dispensing system, or automated drug cabinet, is an electronic device primarily used for drug storage and dispensing in healthcare settings. Secured with authenticated passwords and biometrics for drug inventory control and security, these systems aid in tracking and controlling drug distribution. These systems are now widely used in many hospitals, clinics, and nursing homes. The Pyxis MedStation system offered by BD is one of the most used automated dispensing systems in the world. It supports decentralized medication management, and its barcode scanning ensures accurate medication dispensing.

End User-Overview

Based on end user, the outpatient central fulfillment market is segmented into hospital pharmacies, retail pharmacies, and mail-order pharmacies. The hospital pharmacies segment held the largest outpatient central fulfillment market share in 2022. It is expected to register the highest CAGR in the outpatient central fulfillment market during 2022–2030.

Many hospitals adopt pharmacy automation systems to ensure accuracy, reproducibility, and patient safety. Some studies have observed up to 10% manual error rates in hospital pharmacies. Many studies have proved that using ADM confers more benefits than liability. In March 2020, Swisslog Healthcare partnered with PipelineRx and Savioke to launch the Meds-to-Beds program, an initiative to provide hospital outpatient pharmacy services at discharge. The program includes automatic robotic delivery of prescribed medication and consulting to expand pharmacy capacities. As hospital pharmacies acknowledge the need to provide a high standard of care to patients, the demand for automation equipment is likely to increase significantly during the forecast period.

Competitive Landscape

Capsa Healthcare, Cardinal Health, Surescripts, McKesson Corporation, Tension Packaging and Automation, ScriptPro LLC, Omnicell, BD, RxSafe LLC, and Custom Health Inc. are among the leading companies operating in the outpatient central fulfillment market. These companies emphasize new product launches, mergers, and geographic expansions to meet the growing consumer demand worldwide, thereby increasing their product range in specialty portfolios. Their widespread presence across the world helps them cater to a large base of customers and subsequently magnify their shares in the outpatient central fulfillment market.

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