How big is Pharmaceutical Robots Market ?
Market Research Future (MRFR) expects the pharmaceutical robots market is expected to register a CAGR of 8.9% to reach USD 349.7 billion by 2022-2030, (review period), given the rising focus on laboratory automation.
The end-users discussed in the report are pharmaceutical companies and research laboratories. the sub-markets covered in the report are profiled under four major regions that include North America, Europe, Asia Pacific and the rest of the world.
Robotic, among other advanced technologies, has emerged as a powerful weapon in the fight against SARS-CoV-2. Pharmaceutical robots have been in great demand since their inception, and have now gained even more importance following the COVID-19 outbreak. Researches based on the pandemic reveal that these robots are associated with better clinical outcomes and aid reduction in complication rates. Their rising use in the pharmaceutical industry since the onset of the novel coronavirus has resulted in better work efficiency as well as accuracy while also preventing human errors.
The Pharmaceutical Robots Market is advancing at a promising rate, thanks to the surging use of automation during manufacturing processes, combined with the high costs associated with drug discovery. These factors have raised the use of robotics in drug discovery, laboratories, and clinical trials for the automation of the procedures. Development and introduction of cost-effective and flexible pharmaceutical robots by manufacturers and the increasing approvals for their use in new laboratory and manufacturing conditions also favor the worldwide market.
Stunning expansion rate of the pharmaceutical sector in emerging countries and the introduction of superior quality manufacturing technologies also benefit the market. Pharmaceutical robots have been observing a paradigm transformation over the years, as technical advances continue to surge, including high-definition microscopic cameras, motion sensors, 3D-imaging, robotic controlled catheters, data recorders data analytic systems, remote navigation systems, and more. A number of vendors are collaborating with other companies to broaden the application scope of their systems, launching new and improved robots in the market.
Pharmaceutical Robots Market Players are Marchesini Group S.p.A (Italy), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), FANUC Corporation (Japan), ABB Ltd. (Switzerland), Denso Corporation (Japan), Mitsubishi Electric Corporation (Japan), Universal Robots A/S (Denmark), Shibuya Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Seiko Epson Corporation (Japan), and more.
Pharmaceutical Robots Market Segmentation
The global market for pharmaceutical robots has been considered for type, application, along with end-user.
Major types of pharmaceutical robots are collaborative robots as well as traditional robots. Types of traditional robots available in the global market are dual-arm robots, SCARA robots, articulated robot, cartesian robots, delta/parallel robots, and others.
Key applications of pharmaceutical robots are picking and packaging, pharmaceutical drugs inspection, and laboratory applications.
Top end-users covered in the research study are pharmaceutical companies as well as research laboratories.
Pharmaceutical Robots Market Regional Analysis
Asia Pacific is most likely to be the biggest market for pharmaceutical robots in the next few years, thanks to the large-scale spending by major companies on technological advances. Robust base of a number of pharmaceutical vendors and the massive market for industrial robots will raise the demand for pharmaceutical robots in the region over the years ahead. In 2019, the top performer in the region was China, as the country houses a thriving industrial robots sector, says the International Federation of Robotics (IFR). The Robotics & Automation reveals that in 2020, China held the highest share (150,700 units) of industrial robots and their installation in the world. This can be attributed to the booming sales of the same in the country.
The European market will be generating huge revenues in the following years, as the demand for pharmaceutical robots continues to soar in the region. The dramatic growth in the industrial robots sector along with the initiatives helmed by the European Union to encourage automation in the pharmaceutical industry will also warrant rapid business growth. Germany can expect to take the lead in the region, given the strong technological base and the hordes of target companies established in the country.
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