According to The Insight Partners market research study titled ‘Pharmaceutical Robots Market – Global Analysis and Forecasts by Product, Application and End User’. The Global Pharmaceutical Robots Market is expected to reach US$ 344.4 Mn in 2027 from US$ 110.8 in 2018. The market is estimated to grow with a CAGR of 13.6% from 2019-2027. The report highlights the trends prevalent in the global pharmaceutical robots market and the factors driving the market along with those that act as deterrents to its growth.
Request for sample PDF Copy @ https://www.theinsightpartners.com/sample/TIPMD00002342/
The pharmaceutical robots market by product is segmented into collaborative robots and traditional robots. In 2018, the traditional robots segment held a largest market share of 75.5% of the pharmaceutical robots market, by product. The traditional robot segment is expected to dominate its market share in 2027 owing to increase in the use of robots in dispensing, sorting, kit assembly, and light machine-tending as well as in more traditional applications associated with packaging and others. However, the collaborative robots segment is anticipated to witness the fastest growth rate of 14.2% during the forecast period, 2019 to 2027.
Key factors driving the market are significant benefits offered by robots in pharmaceutical manufacturing, growing awareness of robotic systems in manufacturing process, increasing investments in pharmaceutical research and development. In addition, the growth opportunities in emerging nations are likely to have a positive impact on the growth of the market in the coming years.
Some of the prominent players operating in pharmaceutical robots market are, ABB, Kawasaki Heavy Industries, Ltd., YASKAWA ELECTRIC CORPORATION, Universal Robots, Marchesini Group S.p.A., DENSO CORPORATION, FANUC CORPORATION, Epson India Pvt Ltd., SHIBUYA CORPORATION, TRANSCRIPTIC INC. among others. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, In September 2018, ABB launched its most compact and lightweight 6-axis robot ever. The new IRB 1100 enhances the industry’s most comprehensive offering for fast, accurate small parts assembly solutions.
Growing Awareness of Robotic Systems in Manufacturing
There are several conferences, workshops, and exhibitions being held across the globe in order to increase the awareness of robotic systems. For instance, 5th World Congress on Automation and Robotics was held in April 2018, at Las Vegas, USA. The conference aimed at growing awareness and share the knowledge of advanced technology amongst the professionals, industrialists, and students from the research area of Automation & Robotics. Furthermore, Pittcon 2018 was held in February 2018 at Orlando, Florida. The conference focused on the latest developments in technology, assisting analysis and automation in pharmaceutical research. For instance, GlaxoSmithKline, who has collaborated with other pharmaceutical companies to assess the robotic platforms for precise, automated dispensing of solids and AstraZeneca has who have worked on combined efforts to improve the measurement and prediction of API solubility. Also, The Digital Robot Pharma Fab Workshop will be held in June 2019 at Amsterdam, The Netherlands. This workshop will demonstrate the applications of robotics in the pharmaceutical industry and also introduces the advantages and risks associated with it. The workshop will conduct also includes lectures as well as hands-on training by mockups and live activities presented in the exhibition hall. Thus the growing conferences, workshops, and exhibitions for pharmaceutical robots drive the market growth during the forecast period.
Increasing Medical Tourism in Emerging Nations
Research and development (R&D) is an essential and crucial part of the company’s business. Pharmaceutical and biotechnology companies’ focus on research and development (R&D) to develop new molecules for various therapeutic applications with the greatest medical and commercial potential. The companies invest majorly on the R&Ds with the aim of delivering high quality and innovative products to the market. R&D spending by biopharmaceutical companies has also increased over the years. According to a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015. Therefore, the increasing research and development expenditure in pharmaceutical and biotechnology companies in order to save the cost and time and to improve the drug discovery process will drive the growth for the pharmaceutical robots market during the forecast period.
The report segments the global pharmaceutical robots Market as follows:
Global Pharmaceutical Robots Market – By Product
Global Pharmaceutical Robots Market – By Application
Global Pharmaceutical Robots Market – By End User
Global Pharmaceutical Robots Market – By Geography