Pharmaceutical Robots Market Size Worth USD 440.1 Million By 2025 | CAGR: 15.3%
Published Date : 13 / 09/ 17 | Report Format: PDF
The global pharmaceutical robots market is expected to grow at growth rate of 15.3% to reach USD 440.1 million by 2025.
Automation has become an important part of pharmaceutical manufacturing. Healthcare companies are gradually injecting more robotic systems into their operations due to its associated advantages such as the low risk of infections, short hospital stays, faster recovery and decrease in blood loss and transfusion compared to open surgery. The robotic system achieves very precise movements that limit injury to the affected area while surgical interventions and develops smaller scars post recovery. Furthermore, this technology is increasingly used for clean room processes, as it eliminates human contamination risk. Such factors would, in turn, stimulate the demand for robotic systems in the medical industry. However, lack of expertise and high initial cost will pull back the demand for robots in pharmaceutical industries.
- According to the Association for Packaging and Processing Technologies (PMMI), by 2018, robotic technologies are anticipated to handle over 35% of pharmaceutical packaging operations in the U.S., compared to 20% in 2013
- Use of robotic systems can speed up high throughput screening (HTS) where millions of molecular compounds are tested to determine which could become new drugs which are anticipated to play an important role in market growth
- Of the different products, articulated products accounted for the highest revenue share. In 2017, this segment recorded USD 24.1 million and is projected to grow with 14.3% CAGR over the study period.
- Regionally, China is considered to be the most promising market for the pharmaceutical robotic industry. The Chinese government stated that industrial robots production is projected to rise to 100,000 by 2020. As per the IFR, China supply of these products accounted for 27% of the global market in 2015.
- Kawasaki Heavy Industries Ltd., Fanuc Corporation, ABB Ltd., Kuka AG, Mitsubishi, Yaskawa Electric Corporation, Denso Wave Incorporated, and Universal Robots are some of the prominent players in this industry. Companies are collaborating with pharmaceutical giants to expand their product reach in medical applications.
- For instance, in July 2012, iRobot, an American advanced technology firm partnered with InTouch Health to develop RP-VITA (Remote Presence Virtual + Independent Telemedicine Assistant) robot. RP-VITA enables doctors to directly interact with patients from anywhere across the world.
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The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
MARKET, BY APPLICATION
- Picking and Packaging
- Laboratory Applications
- Pharmaceutical Drugs
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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