Yahoo Finance Global Pharmaceutical Robots Market is Expected to Witness High Growth of USD 349 million by 2027 : Fior Markets
Pharmaceutical Robots Market by Product (Traditional Robots, Collaborative Robots), End-User (Research Laboratories, Biopharmaceutical Companies), Applications (Laboratory Applications, Inspection of Pharmaceutical Drugs, Picking & Packaging), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast to 2027
Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global pharmaceutical robots market is expected to grow from USD 143 million in 2019 to USD 349 million by 2027, at a CAGR of 13.6% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for pharmaceutical robots and is expected to grow at the highest CAGR during the forecast period. The APAC pharmaceutical robots market is poised to witness many new product launches and is expected to see high growth in the coming years. The region’s growth is attributed to the presence of high tech robotics industries and pharmaceuticals. The markets in Japan, South Korea and China are proliferating, commanding significant shares in the regional market.
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Key players in the global pharmaceutical robots market are Kawasaki Heavy Industries Ltd, Mitsubishi Electric Corporation, Shibuya Corporation, Yaskawa Electric Corporation, Seiko Epson Corporation, Marchesini Group S.p.A., Fanuc Corporation, ABB Ltd, Universal Robots A/S., Marchesini Group S.P.A., Denso Wave Incorporated, Kuka AG, and Transcriptic Inc. among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the pharmaceutical robots market.
In 2016, FANUC and NVIDIA (U.S.) collaborated to incorporate Artificial Intelligence on the FANUC Intelligent Edge Connect and Drive (FIELD) framework. This is aimed at increasing the efficiency of robotics and adding new capacities to automated factories worldwide. In addition, the developments in artificial intelligence are intended to allow robots to watch & learn, and to develop their capabilities.
The product segment includes traditional robots and collaborative robots. The traditional segment dominated the market with the largest market share due to increasing awareness and usage. However, the collaborative segment is expected to grow with a higher CAGR due to various reasons such as cost-effectiveness, user-friendliness, advanced technology, and easier maintenance. The end-user segment is divided into research laboratories and biopharmaceutical companies. Machines allow researchers to gain quick analysis and results of scientific tests. The end-user segment consists of research laboratories and biopharmaceutical companies. Research laboratories are expected to show substantial growth over the forecast period as a result of rising automation in R&D facilities. However, the biopharmaceutical segment holds the largest market share because of the increasing use of robotics in the biopharmaceutical industry and the discovery and creation of new medicines. In addition, biopharmaceutical companies are also developing personalized medicine and clinical trials that further support the pharmaceutical robots market's growth. On the basis of application, the market has been segmented into laboratory applications, inspection of pharmaceutical drugs, and picking & packaging. All three segments are anticipated to grow considerably due to given reasons- R&D of new medicines, efficiency and personalized packaging respectively.
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About the report:
The global pharmaceutical robots market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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