Global Pharmaceutical Robots Market Value Share, Analysis and Segments 2018-2024
The Infinium Global Research analyzes the Pharmaceutical Robots Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global pharmaceutical robots market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of pharmaceutical robots. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the pharmaceutical robots market during the period. The global pharmaceutical robots market is projected to grow at a CAGR of 13.2% over the forecast period of 2018-2024.
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Robotics is an interdisciplinary branch of engineering and science and it deals with the design, manufacture, and application of robots. Robots are beneficial in filing, inspection, packaging, laboratories, and the manufacture of personalized medicine. Robots in pharmaceuticals perform tasks beyond human capability. Pharmaceutical robots eliminate the wrong dosage, wrong medication and other errors owing to human mistakes. Pharmaceutical robots increase the efficiency of work. The growing demand for medicines and new drugs needs increased production capacity. Pharmaceutical robots help to increase productivity to achieve the required production.
Rising Demand for Drugs, Pharmaceuticals, Need for Increasing Productivity Boosts the Growth of the Pharmaceutical Robots Market
Robotic automation provides higher productivity, increased speed, accuracy, reliability, and improved efficiency which drives the pharmaceutical robot market. Rising demand for drugs, pharmaceuticals, need for increasing productivity boosts the growth of the pharmaceutical robots market. According to the International Federation of Pharmaceutical Manufacturers & Associations, the global pharmaceutical market will reach nearly USD 1,430 billion by 2020. However, the high initial investment for robots hampers the growth of the pharmaceutical robots market. Moreover, continuous advancements in robotics emerge to be an opportunity for the pharmaceutical robots market.
Pharmaceutical Robots Market: Segmentation
The pharmaceutical robots market is segmented on the basis of type and application. Based on type, the pharmaceutical robots market is classified into traditional robots and collaborative pharmaceutical robots. Traditional robots are expected to have a larger share in the type segments due to raising awareness about these robots. And based on application, the pharmaceutical robots market is classified into drug inspection, picking and packaging, and laboratory applications. Picking and packaging are anticipated to be dominant in the application segment due to the increasing demand for personalized packaging.
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North America Dominates the Pharmaceutical Robots Market
Based on geography, the pharmaceutical robots market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the pharmaceutical robots market. North America has a well-established healthcare infrastructure. Asia-Pacific region is expected to grow in the pharmaceutical robots market owing to the increasing geriatric population. The population of older persons in the Asia-Pacific region will triple between 2010 and 2050, reaching close to 1.3 billion people. The geriatric population rises the demand for pharmaceuticals, boosting the need for increased productivity by using pharmaceutical robotics.
Pharmaceutical Robots Market: Competitive analysis
The leading players in the pharmaceutical robots market are Fanuc Corporation, Kawasaki Heavy Industries Ltd, ABB Ltd., Shibuya Corporation, Universal Robots A/S., Marchesini Group S.P.A., Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Seiko Epson Corporation, and Universal Robots A/S. Primary strategies adopted by these players are mergers, acquisitions, new product launches, and partnerships. For instance, Fanuc Corporation has acquired all shares of Life Robotics Inc., which engages in the development, manufacture, sales and other activities regarding “CORO.” FANUC has consistently pursued the automation of factories.
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=> Comprehensive analysis of global as well as regional markets of the pharmaceutical robots.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.