The global collaborative pharmaceutical robots Market is segmented into application such as assembly, picking and packaging, inspection of pharmaceutical drugs, laboratory applications and others. Further, picking and packaging is believed to be the fastest growing segment in overall collaborative pharmaceutical robots market by the end of 2024. This growth of picking and packaging segment is attributed to the rising demand for personalized packaging. Moreover, assembly segment is also predicted to grow at a significant pace over the forecast period.
Global collaborative pharmaceutical robots market is expected to register a robust CAGR over the forecast period. Moreover, collaborative pharmaceutical robots market is anticipated to reach USD 410.1 million globally by 2024. The market is expected to expand on the back of growing adoption of innovative technology to curb the operational cost and human errors.
The Up to 10kg segment by payload capacity is expected to post a significant CAGR by 2024. Moreover, Up to 10kg segment is anticipated to account for the largest share of revenue across the globe. Furthermore, wide application of this segment in picking and packaging and others is one of the major factors driving the growth of Up to 10kg segment. Apart from this, increasing regulations related with human safety in pharmaceuticals industry is bolstering the growth of collaborative pharmaceutical robots market.
Rising drug discovery and clinical trials
Increasing research and development activities in the field of drug and rising number of clinical trials are the major factors augmenting the demand for collaborative pharmaceutical robots. Moreover, adoption of collaborative robots by pharmaceutical industry to reduce human errors is also envisioned to boost the demand for collaborative pharmaceutical robots by 2024. Further, these factors are anticipated to flourish the growth of collaborative pharmaceutical robots market across the globe.
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Technological advancement in robots
Growing adoption of innovative technology by pharmaceutical industry for material handling & packaging, quality testing and others is predicted to supplement the growth of collaborative pharmaceutical robots market. Moreover, rising labor cost, rising per capita income of developed and developed nations and adoption of collaborative pharmaceutical robots by small and medium-sized enterprises are some of the major factor propelling the growth of collaborative pharmaceutical robots market.
However, high maintenance associated with collaborative pharmaceutical robots is expected to hamper the growth of this market. Moreover, high initial investment related with the installation of collaborative pharmaceutical robots is anticipated to dampen the growth of global collaborative pharmaceutical robots market over the forecast period.
The report titled “Collaborative Pharmaceutical Robots Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global collaborative pharmaceutical robots market in terms of market segmentation by payload capacity, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global collaborative pharmaceutical robots market which includes company profiling of Kawasaki Heavy Industries Ltd., FANUC America Corporation, ABB Ltd., KUKA AG, Denso Wave Inc., Seiko Epson Corporation, Marchesini Group S.p.A, Universal Robots A/S, Shibuya Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global collaborative pharmaceutical robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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