Pharmaceutical Robots Market is Projected to be Worth US$ 250.46 Mn by 2026

Posted May 28, 2019 by pragya11

Pharmaceutical Robots Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Pharmaceutical Robots Market – Snapshot

The global pharmaceutical robots market is expanding owing to a robust pharmaceutical industry and benefits offered by automation in this sector across the globe. The global pharmaceutical robots market was valued at US$ 92.73 Mn in 2017 and is projected to expand at a cumulative annual growth rate (CAGR) of more than 12.1% from 2018 to 2026 to exceed a value of US$ 250.46 Mn by 2026. The global pharmaceutical robots market is expanding at a rapid pace owing to increase in penetration of robotics in the pharmaceutical sector, technological advancements, and minimization of production cost due to automation. Pharmaceutical robots are adept at performing tasks at rates that far exceed human capability. These robots are capable of functioning in perilous settings in proximity to biological dangers such as threat of radioactive contamination and toxic chemotherapy compounds. Robots are utilized in various applications such as drug discovery, pharmaceuticals, medical device manufacturing, and performing blood sample testing. Also, pharmaceutical companies are utilizing robots on a large scale for scientific research.

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In the field of robotics, laboratory automation is an emerging segment. Pharmaceutical robots aid in transferring and packaging materials such as diagnostic kits and assays. This helps reduce human error and permits scientists to focus on experiments. The other applications of robots include decreasing repetitive capping work, uncapping, and operation of manual pipettes. Thus, automated machines assist research scientists by easing their work and lead to rapid laboratory work. The field of robotics is seeing large-scale of technological advancements. In the field of industrial robots, pharmaceutical robots is an emerging segment. Various organizations are developing technologically advanced robotic machines, which is likely to boost the pharmaceutical robots market. For example, Universal Robots A/S introduced collaborative robots such as UR3 ROBOT that help in picking and placing, conduction of lab analysis, and injection molding, thereby transforming manufacturing units with novel technology. A large number of pharmaceutical companies are substituting traditional robots with robots that represent a combination of humans and robots, owing to their ability to offer flexibility as well as efficiency.

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The global pharmaceutical robots market can be divided based on type, application, end-user, and geography. In terms of type, the global pharmaceutical robots market can be segmented into traditional robots and collaborative robots. The traditional robots segment can be further categorized into articulated, SCARA (selective compliance articulated robot arm), delta/parallel, cartesian, and other robots (spherical and dual-arm robots). Based on application, the global pharmaceutical robots market can be classified into picking and packaging, pharmaceutical drugs inspection, and laboratory. The picking & packaging segment is expected to constitute a significant market share owing to high demand for personalized packaging. The various advantages offered by robots in the pharmaceuticals field include high speed, efficient track and trace, and optimal utilization of floor space. Various traditional machines, for instance VS-068A2 and VP-6242G, produced by Denso Wave Incorporated are utilized for picking and packaging. In terms of end-user, the global pharmaceutical robots market can be split into pharmaceutical companies and research laboratories. Rise in use of robots in the pharmaceutical sector owing to rise in novel drug discovery and development is leading to expansion of the market. Also, pharmaceutical companies are engaged in the development of personalized medicine as well as clinical trials, which is further benefitting the market.

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Issued By Pragya
Business Address State Tower,90 State Street, Suite 700
Country United States
Categories Health
Tags pharmaceutical robots market
Last Updated May 28, 2019