Global pharmaceutical robots market is envisaged to reach USD 452.7 Million by 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2025.
According to the report, the global pharmaceutical robots market growth is majorly propelled by the expansive pharmaceutical industry and the increasing demand for automation in this sector. In addition to this, surging adoption of laboratory automation robots and advantages offered by decreased errors and human intervention is also slated to accelerate industry growth. Also, the rising demand for drug production and growing technological advancements in the robotic sector would positively impact the adoption of robots in the pharmaceutical domain. Likewise, the deployment of pharmaceutical robots aids in cost-cutting in the workforce, which directly minimizes the production cost.
Top picks of the pharmaceutical robots market report are cataloged below:
- Based on the application spectrum, in the year 2017, the inspection of pharmaceutical drugs business segment held the biggest share of the market.
- In terms of regional segmentation, North America amassed a significant slice of the global market in 2017.
- On the basis of product type, traditional robots are estimated to dominate the market in terms of market share during the estimation period.
- Articulated robot market, which is a sub-segment of the traditional robot market, will depict significant growth during the forecast period.
In terms of product type, the market is classified into collaborative robot and traditional robot. The research claims that the traditional robot segment would be the leading segment on the basis of market share. However, the collaborative robot segment is projected to depict faster growth rate, due to the product’s ease of maintenance in contrast to the traditional models.
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As per the report, the traditional robot segment is further bifurcated into SCARA robot, articulated robot, delta/parallel robot, dual-arm robot, and cartesian robot. The articulated robot has amassed immense recognition in the business vertical on grounds of its ability to inspect the packaging of pharmaceutical merchandise. On the other hand, the SCARA robot market is predicted to witness decent growth over the forecast timeline, on account of the lower price of linked machines compared to other robot categories.
The research study also sheds light on essential business factors such as market drivers, market forces, market restraints, and foreseeable opportunities in the industry. A careful analysis of Porter's five forces, value chain, industry trends, regional hierarchy, competitive profiling, product type, application type, and end-use type has also been chronicled in the report.
The report divides the end-use segment of the market as research laboratories and biopharmaceutical organizations. The biopharmaceutical companies segment is forecast to hold the biggest share, owing to burgeoning awareness for its use in the ongoing clinical trials, and production of medicines, cites the report.
The application landscape of the market has been segmented into inspection of pharmaceutical drugs, picking & packaging, and laboratory applications. According to the report, the inspection of pharmaceutical drugs segment is estimated to hold the apical position in the market during the prediction timeline. Increase in government interventions and strict policies for certifying drug entry into the market have boosted market growth. The inspection robots are primarily employed for shape recognition, crack detection, color inspection, counting tablets, as well as for scrutiny of packaging to find drug packaging leakage. However, the laboratory application segment is anticipated to grow at a faster speed owing to surging research & development in this sphere, and growing need for plummeting human intervention in the drug development process.
The key players profiled in the global pharmaceutical robots market are Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, FANUCA America Corporation, Denso Wave Inc., Kuka AG, ABB Ltd., Universal Robot A/S, Marchesini Group S.P.A., Seiko Epson Corporation, and Mitsubishi Electric Corporation.