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Pharmaceutical Robots market to Grow at a CAGR of 13.4% to reach US$ 383.91 million from 2021 to 2028
According to our new research study on“Pharmaceutical Robots Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product, Application, and End User” the market is expected to reach US$ 383.91 million by 2028 from US$ 159.23 million in 2021; it is estimated to grow at a CAGR of 13.4% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. Factors such as benefits offered by robots in pharmaceutical manufacturing, growing awareness of robotic systems in manufacturing process, increasing investments in pharmaceutical research and development are the key factors driving the market growth. However, high cost of robots and dearth of skilled professional hinders the market growth.
Strategic Insights:
| Report Coverage | (Details) |
| Market Size Value in | (US$ 159.23 Million in 2021) |
| Market Size Value by | (US$ 383.91 Million by 2028) |
| Growth Rate | (CAGR of 13.4% from 2021-2028 |
| Forecast Period | (2021- 2028) |
| Base Year | (2021) |
| No. of Pages | (188) |
| No. Tables | (115) |
| Segments covered | (Product ; Application ; End User ; and Geography) |
| Regional scope | (North America; Europe; Asia Pacific; Latin America; MEA) |
| Country scope | (US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina) |
| Report coverage | (Revenue forecast, company ranking, competitive landscape, growth factors, and trends) |
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Pharmaceutical industry requires efficient and precise precision in production of pharmaceutical drugs. Thus, using robots in pharmaceutical manufacturing improves quality and reduces cost and time. Robots are proving advantageous in filling, inspection, packaging, laboratories, and the manufacture of personalized medicine. A robotic system is a type of automation that has multiple axes of motion and can be programmed to perform any function.
Rising Trend of Cloud Robotic
Cloud robotics is an emerging field of robotics rooted in cloud computing, cloud storage, and other Internet technologies centered on the benefits of converged infrastructure and shared services. Connecting robots to the cloud increase computational power, storage, and communications. Cloud robots communicate with each other and thus operations are carried out easily.
The Google Cloud Robotics Platform combines AI, robotics, and the cloud to enable the opening of an ecosystem of automation solutions that use cloud-connected collaborative robots. Along with AI and machine learning services, the robots will be able to efficiently carry out processes in highly dynamic environments in the manufacturing industry. Moreover, in the industry, the cloud is an ally for processing a large amount of data. For instance, Exscientia and Celgene, a biopharmaceutical company, announced a €19.64 million deal in 2019 to speed up the discovery of medications for cancer and autoimmune illnesses. In 2020, it also announced a collaboration with other firms to find possible COVID-19 medications. As a result, the company now has access to a package of molecules, including medications and other chemicals, that have been successfully tested in humans. The company intended to scan the list for any medications that could be able to combat the virus. Exscientia's technology scans the large databases and can accurately predict which compounds do not generate side effects to reach the desired goal. Similarly, in 2020, another pharmaceutical company, Boehringer Ingelheim, partnered with a biotech company, Click Therapeutics, to produce $500 million in digital treatments. More precisely, both firms planned to collaborate on the development and distribution of a mobile application to help schizophrenia patients with cognitive deficiencies. Also, IBM has created RoboRXN, a chemical laboratory that uses AI, cloud computing, and robotics to develop drugs from the researchers' own homes.
Cloud-based software, with appropriate security protocols, can be adopted to facilitate integration and automation. Its use helps reduce the paperwork of the companies, making data manageable. Thus, cloud robotics is expected to become the trend in the pharmaceutical robot market in the future.
The impact of the pandemic and decreasing global research activities have also harmed the operations and financial execution of several companies in the pharmaceutical robots market. The OIE, the World Organization for Animal Health aids research for their on-going research and other implications of COVID-19 for animal health and poultry public health. The organization also helps in risk assessment, risk management, and risk communication.
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Based on product, the pharmaceutical robots market is segmented into collaborative pharmaceutical robots, and traditional robots. In 2021, collaborative pharmaceutical robots segment is estimated to account for the largest market share, whereas traditional robots is expected to witness the highest CAGR in the market during the forecast period. The growth of this segment is attributed to the increase in the use of robots in dispensing, sorting, kit assembly, and light machine-tending as well as in more traditional applications associated with packaging and others.
Based on application, the pharmaceutical robots market is segmented into inspection of pharmaceutical drugs, laboratory applications, and picking and packaging. The inspection of pharmaceutical drugs segment would hold the largest share of the market in 2021 and is estimated to register the highest CAGR in the market during the forecast period.
Pharmaceutical Robots Market: Competitive Landscape and Key Developments
ABB Ltd., Kawasaki Heavy Industries, Ltd., Yaskawa Electric Corporation, Universal Robots A/S, Marchesini Group S.p.A, Denso Corporation, Fanuc Corporation, Espon India Pvt. Ltd., Shibuya Corporation, and Weiss GmbH are among the leading companies operating in the pharmaceutical robots market.
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In March 2021, Yaskawa Electric Corporation launched a new hybrid Yaskawa cobot-MOTOMAN HC10DTF for food and pharmaceutical industries. The MOTOMAN HC10DTF fulfils the stringent hygienic requirements of the food and pharmaceutical industry pursuant to ISO Class 5 or EG-GMP Class A.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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