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WiseGuyRerports.com Presents “Global Pharmaceutical & Cosmetics Industrial Robots Market 2014-2025 by End-user, Application, Product Type and Region” New Document to its Studies Database
An industrial robot is a system used for manufacturing. The report is a detailed overview of Global Pharmaceutical and cosmetic industrial robots market 2014-2025 by End-user, application, product type and region. It is predicted that revenue of global pharmaceutical & cosmetics industrial robots markets would reach USD 492.2 million by 2025 in terms of hardware and USD 1,329.8 million in terms of the robotic system (hardware, software & service), growing at a compound annual growth rate of 10% annually over the forecasted time span from 2014-2025.
Even though there is a small consumer group of industrial robots, a rapid growth of industrial robotics adoption in the pharmaceutical & cosmetics industry has been seen in recent years. There are different advantages in integrating robots into the production processes.
Increase in productivity and a decrease in the occurrence of accident at works. Industrial robots are replacing human workforce and keeping pharmaceutical & cosmetics manufacturers at ease of work. These are the major benefits achieved by the adoption of industrial robots.
The introduction of robots will help to increase capacity, reduce manufacturing costs and also reduce waste. Although the cost is high in the short term, the return on investment is highly beneficial especially as the pricing and reimbursement of drugs continue to be a problem. The Robotic Industries Association are developing safety standards which also increases the adoption of robots. These are the major driving factors for this market.
The major key players contributing to this market are:
The market is segmented on the basis of
Based on the end-user
Based on application
The North American pharmaceutical & cosmetics industrial robots market is predicted to reach USD 368.88 million in terms of the robotic system in 2025, growing by over 9.7% annually during the forecasted period from 2019-2025. 35,880 robots were shipped to factories in the US in 2018 by the industrial robot makers in the United States.
China also contributes a large revenue into the market and is considered the largest industrial robot market, with 137,900 units sold in 2017. The largest operational stock of industrial robots is held by Japan, with 286,554 at the end of 2015.