Scaling Heights: Pharmaceutical Robot Market's CAGR Reaches...

Scaling Heights: Pharmaceutical Robot Market's CAGR Reaches 6.7% by 2033

Posted 2024-04-30 17:43:08

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The market research and competitive intelligence source Fact.MR has released a study report projecting the worldwide Pharmaceutical Robot Market to grow at a compound annual growth rate (CAGR) of 6.7% between 2023 and 2033. By the end of 2033, the pharmaceutical automation market is expected to be worth US$ 431 million worldwide.

Rising need for automation in different drug manufacturing units along with higher prices of novel drug discovery are predicted to boost demand for robotics in laboratories, clinical trials, and drug discovery for procedure automation. Robotics and automation are gaining traction owing to the increasing demand for faster turnaround time and precision.

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Key Takeaways from Market Study

Worldwide demand for robotic dispensing reached US$ 211 million in 2022.
The global pharmaceutical robot market stands at US$ 225.2 million in 2023.
The market is set to reach a value of US$ 431 million by the end of 2033, expanding at 6.7% CAGR.
Global sales of traditional robots are forecasted to rise at 5% CAGR and reach US$ 201.6 million by 2033-end.
Demand for pharmaceutical robots in the United States reached a market value of US$ 61.5 million in 2022.
The market in China is predicted to advance at 6.2% CAGR and reach US$ 60.8 million by 2033.
Sales of pharmaceutical production robots in Germany are projected to expand at 4.7% CAGR from 2023 to 2033.
Demand for pharmaceutical robots in Japan is predicted to increase at a CAGR of 5.5% through 2033.

“Growing awareness about the benefits of pharmaceutical robots, including enhanced health and safety, improved production output, and reduced labor are contributing to their increased sales,” says a Fact.MR analyst.

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Extensive Application of Pharmaceutical Robots Due to Their Benefits

Sales of traditional robots held 63.5% share of global market revenue in 2022. Several benefits related to the adoption of these conventional robots in numerous industrial applications are contributing to revenue streams. Precision spot welding, process-to-process transferring, sorting, scribing, cutting, stacking, product placement, storing & retrieving, palletizing & depalletizing, packaging, loading & unloading, and pick & place material handling are some prominent applications of traditional pharmaceutical robots that are positively impacting their sales.

Winning Strategy

Collaborations, mergers, and acquisitions are some of the key strategies being adopted by market players.

For instance:

FANUC America Corporation, in July 2018, expanded its headquarters in Auburn Hills, MI. This newly developed facility is used for the development, manufacturing, warehousing, and engineering of products.

Key Companies Profiled in This Report

ABB Ltd.,
Denso Wave Inc.,
Denso Corporation,
Epson India Pvt. Ltd.,
Kawasaki Heavy Industries Ltd.,
FANUC Corporation,
KUKA AG,
Mitsubishi Electric Corporation,
Marchesini Group S.p.A.,
Seiko Epson Corporation,
Transcriptic Inc.,
Shibuya Corporation,
Yaskawa Electric Corporation,
Universal Robots A/S.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the pharmaceutical robot market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on type (traditional robots, collaborative robots) and application (picking & packaging, drugs inspection, laboratories), across major regions of the world (North America, Europe, East Asia, South Asia & Oceania, Latin America, and MEA).

Market Competition:

Manufacturers of pharmaceutical robots are incorporating strategies to acquire a competitive edge, including new developments, ensuring quality control of products, management of supply chain systems, etc. Pharmaceutical robot market players are developing more advanced analytical products to extend offerings. They are also concentrating on product launches, technology collaborations, alliances, etc.

For instance:

Jianjia Robots, in September 2021, raised a significant amount to complete clinical registration for the development of joint replacement surgical robots of the company.
ABB, in February 2021, introduced two new additions to its robot line. The firm is predicted to depend on collaborative robots for automation in the pharmaceutical industry.

Segmentation of Pharmaceutical Robot Market Research:

By Type :
- Traditional Robots
- Collaborative Robots
By Application :
- Picking & Packaging
- Drugs Inspection
- Laboratories
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa