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Collaborative robots segment is expected to drive the growth of the global pharmaceutical robots market by product
According to a new 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. Key factors driving the market are significant benefits offered by robots in pharmaceutical manufacturing, growing awareness of robotic systems in the manufacturing process, increasing investments in pharmaceutical research and development.
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.
Global pharmaceutical robots market, based on the product, was segmented into collaborative robots and traditional robots. In 2018, the traditional robots segment held the 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.
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 the others. The market players are focused on bringing new and innovative products and services to sustain their position in the market. For instance, In April 2019, Epson expands LS Series SCARA industrial robot lineup. Epson Robots, the SCARA robot manufacturer in the world, announced that it had expanded its SCARA robot lineup with the introduction of 4 new robots – the LS3-B, LS6-B, LS10-B, and LS20-B.The developments performed by the companies are helping the market to grow in the coming years.
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
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