Pharmaceutical Robot Market : Segmented by Product Outlook (Traditional Robots, Collective Robots); by Application (Picking and packaging, Inspection of Pharmaceutical drugs, Laboratory Applications); By End-User (Pharmaceutical companies and Research Laboratories) and Region - Global Analysis of Market Size, share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report Pharmaceutical Robot Market to surpass USD 315.71 million by 2030 from USD 101.12 million in 2020 at a CAGR of 12.06% in the coming years, i.e., 2021-30.
Pharmaceutical robots are robots that are utilized in the pharmaceutical business. Manipulators, sensing devices, and robot tooling are all included in these robots. There are numerous advantages to using a robot in the pharmaceutical sector. Robots are three to four times more efficient than people and can work 24 hours a day, seven days a week. Robotics plays a significant part in the production of pharmaceutical medications because, as the demand for pharmaceutical goods grows, many pharma businesses want speed, precision, and automation. These robots may be employed for a variety of tasks, including packing, filling, and inspection. Another benefit of robotics is that it speeds up the drug development process. Robots are also used to manufacture equipment including needles, inhalers, IV bags, and diabetes test kits. Pharmaceutical firms are increasingly incorporating more robotic systems into their operations, indicating that the usage of robotics systems in the pharmaceutical sector has significant potential.
Global Pharmaceutical Robot market is expected to project a notable CAGR of 12.06% in 2030.
Global Pharmaceutical Robot to surpass USD 315.71 million by 2030 from USD 101.12 million in 2020 at a CAGR of 12.06% in the coming years, i.e., 2021-30. The increasing need for robots in clinical trials, drug research, and laboratories for automating operations is being driven by the growing need for automation in manufacturing units, as well as the high costs of new drug discovery. Furthermore, major corporations are developing technologically superior robotic devices, fueling the market's explosive expansion. Moreover, The COVID-19 pandemic is accelerating the use of pharmaceutical robots to address labor shortages, lower production costs, and boost in-house manufacturing through automation rather than outsourcing in order to reduce global supply chain concerns after COVID-19.
Recent highlights in the Global Pharmaceutical Robot Market
On October 10, 2019, Parata Systems introduced Max 2, their next-generation vial-filling robot. Parata Systems is a prominent pharmacy technology solution supplier that helps businesses develop in order to improve patient outcomes.
Traditional Robots segment to grow with the highest CAGR during 2020-30
Global Pharmaceutical Robot Market is segmented by Product Outlook into Traditional Robots and Collaborative Robots. Due to a growth in the use of robots in dispensing, sorting, kit assembly, and light machine-tending, as well as in more conventional applications such as packaging and others, the traditional robot category is anticipated to dominate its market share throughout the forecast period.
Laboratory applications to grow with the highest CAGR during 2020-30
Global Pharmaceutical Robot Market is segmented by Application into Picking and Packaging, Inspection of Pharmaceutical drugs and laboratory applications. laboratory applications among these Is expected to show the maximum growth. Due to the reduced human participation in the medication production phases, laboratory application is attributed with the highest market share over the projection period. Capping, uncapping, and manual pipettes are just a few of the repetitive tasks that robotics can help with.
Increasing Awareness of Robotic Systems in Manufacturing
Several conferences, workshops, and exhibitions are being organized throughout the world to raise awareness of robotic systems. The conferences aim to raise awareness of advanced technology and share knowledge among professionals, industrialists, and students working in the field of automation and robotics. These courses also show how robots may be used in the pharmaceutical sector, as well as the benefits and hazards that come with it. As a result, the market for pharmaceutical robots is expected to rise over the projected period due to an increase in conferences, seminars, and exhibits.
Increasing Medical Tourism in Emerging Nations
Research and development (R&D) is an important element of a company's operations. Pharmaceutical and biotechnology firms devote significant resources to research and development (R&D) in order to create novel molecules for a variety of therapeutic applications with the highest medical and economic potential. The firms put a lot of money into R&D in order to offer high-quality, innovative items to the market. As a result, rising R&D spending in pharmaceutical and biotechnology firms in order to save money and time while improving the drug discovery process would propel the pharmaceutical robots market forward throughout the projected period.
Lack of skilled Personnel
A key major obstacle to the market's expansion is a scarcity of qualified employees. Industrial robotics is a diverse sector in which finding and keeping skilled employees is a big challenge. There is a paucity of individuals that specialize in industrial robotics disciplines such as electrical, embedded, software, and mechanical engineering. There is also a shortage of highly educated people with certain educational backgrounds and abilities, particularly those required to manufacture high-value-added robots that incorporate advanced technology. There is a scarcity of skilled personnel to operate industrial robots in growing economies such as India, Thailand, and Brazil. This is due to the fact that being an expert in this subject necessitates knowledge of four to five engineering fields, and faculty shortages are a big issue in these nations.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Pharmaceutical Robot market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Pharmaceutical Robot in Asia- Pacific held the largest market share of 41.9% in the year 2020 and is expected to grow at a faster rate during 2021-2030. This can be due to the fact that nations like Japan have a high number of indigenous pharmaceutical businesses. Furthermore, according to the International Federation of Robotics, China was the largest market for industrial robots in 2019. (IFR). China accounted for the highest proportion (140,500 units) of industrial robot installations worldwide, according to a report published in Robotics & Automation in October 2020. This was mostly due to significant growth in sales in China. As a result, prominent pharmaceutical firms with large production facilities in these nations are likely to drive the regional market forward.
Global Pharmaceutical Robot is further segmented by region into:
Pharmaceutical Robot Segments:
|Market size value in 2021||USD 113.24 million|
|Revenue forecast in 2030||USD 315.71 million|
|Growth Rate||CAGR of 12.06% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Outlook, Application, End-User|
|Segments covered||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
|Key companies profiled||ABB Ltd., Universal Robots A/S, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, FANUC America Corporation, Marchesini Group S.p. A, Seiko Epson Corporation, Denso Wave, Inc., Other Prominent Players.|
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