As per the report titled ‘Pharmaceutical Robots Market Share, Size, Trends, Industry Analysis Report By Product Type; By Application; By End Use; By Regions, Segments & Forecast, 2019 - 2026’, available with Market Study Report, global pharmaceutical robots market is expected to record an appreciable growth rate over 2019-2026 and accumulate USD 6.89 billion by the end of the forecast timeframe.
 

Growing inclination towards automation technologies owing to their benefits such as reduced human errors and reduction of production overheads, along with expansion of pharmaceutical sector are driving global pharmaceutical robots market growth. Technological advancements in the field will further enhance the overall industry outlook, claims the study.
 

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Notably, robots surpass certain physical capabilities of humans and accomplish tasks of far greater magnitudes. Unlike humans, they can perform tasks in close proximity to hazardous environments such as lethal chemotherapy compounds and radioactive waste. Moreover, these machines are increasingly being utilized in drug discovery, medical device manufacturing, and scientific research.
 

In terms of application scope, global pharmaceutical robots market size from laboratory applications segment is increasing at a strong pace, as robots are assisting in picking, placing, and packaging kits & assays to different sites which allow scientists to focus on more important tasks. Using robots significantly reduces labor and subsequently reduce burden on production estimates.
 

Based on product type, collaborative robots are pulling the overall pharmaceutical robots industry share from other segments, attributable to lower maintenance requirements of these robots in comparison to traditional robots.
 

Meanwhile, SCARA robots segment is expected to witness an increased demand in the forthcoming years due to affordable pricing as compared to its counterparts. Also, inspection robots segment will gain considerable traction in view of stringent government regulations & norms regarding drug approvals.
 

Considering the end-user spectrum, biopharmaceutical companies led global pharmaceutical robots industry growth in the recent past and will likely continue to experience strong gains owing to increasing knowledge in medicine manufacturing and ongoing clinical trials.
 

With respect to the geographical outlook, North America, Latin America, Middle East & Afirca, Asia Pacific, and Europe are the key contributors to the overall industry expansion.
 

Speaking of the competitive arena, top contenders in global pharmaceutical robots market sphere are Mitsubishi Electric Corp., Kuka AG, Marchesini Group S.p.A., Seiko Epson Corp., Universal Robot A/S, Yaskawa Electric Corp., ABB Ltd., Denso Wave, Inc., Kawasaki Heavy Industries, Ltd., and FANUC America Corp.