Pharmaceutical Robots Market Analysis By Product, By Application, By End Use And Segment Forecasts, 2014 - 2025
LONDON, Aug. 21, 2017 /PRNewswire/ -- Pharmaceutical Robots Market Analysis By Product (Traditional, Collaborative), By Application (Picking & Packaging, Inspection of Pharmaceutical Drugs, Laboratory Applications), By End Use, And Segment Forecasts, 2014 - 2025
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The global pharmaceutical robots market is anticipated to reach USD 430.0 million by 2025, according to a new report by Grand View Research, Inc.
This growth can be attributed to the flourishing pharmaceutical industry.
The pharmaceutical industry is flourishing due to huge R&D investments by global players. With increasing drug discovery and clinical trials, there is growing demand for robotics. To minimize workload and maintain higher levels of accuracy, automation has become a significant part of pharmaceutical manufacturing. It increases efficiency, prevents performance of repetitive activities, and avoids human error & contamination.
Technological advancement is an important factor driving growth. The use of robots & automated machines in the field of pharmaceuticals is still in its nascent stage and expected to grow in the near future. The automation industry has incorporated a few new techniques such as collaborative robots and laboratory automation.
Pharmaceutical robotic machines also minimize manufacturing costs by reducing labor. These machines are 3 to 4 times faster than humans and have the capacity to work for 24 hours. Reduction in production cost is expected to raise return on investment in the long run, thus driving demand for these products in the future.
Further Key Findings From the Study Suggest:
• In 2016, traditional robots held the largest share due to their availability in different types, varied applications, and increased awareness
• Collaborative robots are expected to witness highest growth over the forecast period owing to their ability to easily integrate with existing manufacturing environments and interact with humans
• Picking and packaging segment dominated the market in 2016 since almost all types of robotic machines are primarily used for picking and packaging
• Laboratory applications are anticipated to propel significant growth over the forecast period due to increasing laboratory automation and the need to reduce the risk of human contamination
• Pharmaceutical companies were the biggest contributors to the growth of the market in 2016 owing to a growing number of new drug development and clinical trials
• Asia Pacific dominated the market in 2016 and is also anticipated to be the biggest driver of growth due to high penetration of robotic machines in pharma companies in countries such as China and Japan
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