Pharmaceutical Robots Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Pharmaceutical Robots Market: Snapshot
Pharmaceutical robots are extensively used in numerous applications in the field of medicine. A range of medical environments such as laboratories and pharmacies utilize pharmaceutical robots to carry out various drug manufacturing processes. This is mainly because of the high functionality at which the robots operate, which makes them efficient beyond comparison as compared to the accuracy showcased in case of human actions.
Pharmaceutical robots can function in numerous hazardous settings and in close proximity various biological dangers. Virtually, they are not harmed by any radioactive contamination or other toxic chemotherapy compounds. These advantages have made the use of the robots a high necessity in today’s rampantly advancing field of medicine, consequently giving rise to a distinct pharmaceutical robots market.
Pharmaceutical robots can be used to assemble and package a plethora of medical devices as well as implants, assist in drug manufacturing, and prepare prescriptions for mail order sent to pharmacies, hospitals, and clinics. Since past few years, the global pharmaceutical robotics market is growing at a decent pace, as the rate of acceptability for using the robots is rising gradually from the perspective of pharmaceutical companies. However, the market is expected to grow rapidly in the next few years in sectors such as pharmaceutical manufacturing, product operations, and distribution systems.
A surging demand for new drugs and compound formulations has caused numerous pharmaceutical companies to explore new and efficient ways of making better and less expensive drug. This is one of the chief factors that have been driving the global pharmaceutical robots market. Moreover, rising concerns over fraudulent product manufacturing and cheap quality drugs has made it highly necessary for utilizing highly efficient and unbiased ways of making medicines, consequently boosting the market.
However, high costs of utilizing the robots have been a key restraint affecting the global pharmaceutical robots market. Nevertheless, efforts are being taken by companies to introduce cost effective solutions, which could offset these hindrances.
Global Pharmaceutical Robots Market: Overview
Pharmaceutical robots find application in laboratories and pharmacies and in various drug manufacturing processes. Robotics are also used by hospitals for numerous pharmaceutical applications that include mixing hazardous oncological drugs and formulations emitting harmful radiations. Over the past few years, the adoption of robotics in the pharmaceutical industry has been markedly slower than in other industries. Nonetheless, in recent years, the application of robotics and automation technologies in pharmaceutical manufacturing, production operations, and distribution systems, has gathered pace.
Robots find wide applications in automating a variety of repetitive tasks, mainly in hazardous environments. The application of different types of pick-and-place machines for the development of different pharmaceutical products is growing too.
Global Pharmaceutical Robots Market: Key Trends
The soaring demand for new drugs and formulations has egged a number of pharmaceutical companies to explore new ways to make better and less expensive drugs. This is a key factor propelling the pharmaceutical robots market. The demand for automated filling, inspection, and packaging in pharmaceutical manufacturing are other factors driving the market. The use of robots in potentially hazardous settings such as those prone to radioactive radiations, biological dangers, and cross-contamination in cleanrooms has boosted the uptake of robots in the pharmaceutical industry. Various advantages of using pharmaceutical robots include remarkably high precision and speed in drug formulation, significantly reduced overhead costs, elimination in human error, and high reproducibility. Rising awareness of these benefits is expected to fuel the application of pharmaceutical robots.
Global Pharmaceutical Robots Market: Market Potential
Robotic technologies are increasingly being adopted in automated syringe assemblies, inspections, and packaging. The use of pharmaceutical robots is gaining prominence in sterile environments. This is attributed to their dexterity and reliability in reducing risks arising from environmental contamination and in eliminating cross-contamination between humans and components. Witnessing the vast potential of robots in the pharmaceutical sector, leading manufacturers of pharmaceutical process equipment are making product innovations.
Steriline, a global manufacturer and supplier of specialized process equipment in the pharmaceutical sector, has recently expanded its robotics solutions for the aseptic processing of pharmaceutical products. The European manufacturer will preview its new Robotic Pulsed Light Sterilizer (RPLS1) at interpack 2017, a leading event scheduled to take place in Düsseldorf starting May 4, 2017. The robotic solution is the first-of-its kind to adopt the pulsed light sterilizer technology for ready-to-use (RTU) nest sterilization. RPLS1 can be connected to any RTU filling machine and can sterilize cartridges, syringes, and vials. Easy and cost-effective to install, the robotic device boasts of a processing capacity of 120 tubs/h. Besides enhanced efficiency, it is safe as well, claims the company.
Global Pharmaceutical Robots Market: Regional Outlook
The regional markets for pharmaceutical robots covered in the report are North America, Europe, and Asia Pacific. Asia Pacific, among them, is a lucrative market that is expected expand at a significant CAGR over the forecast period. The growing number of domestic industrial robotic companies, advances in the pharmaceutical sector, and soaring investment in the robotics industry are the key factors boosting the pharmaceutical robots market in the region. In addition, growing number of conferences and exhibitions aimed to create awareness about the adoption of automated technologies is also expected to stimulate the demand for pharmaceutical robots.
Global Pharmaceutical Robots Market: Competitive Analysis
Major companies operating in the global pharmaceutical robots market, profiled in the report are Kawasaki Heavy Industries Ltd., FANUC Corporation, KUKA AG, Mitsubishi Electric Corporation, ABB Ltd., Denso Corporation, Seiko Epson Corporation, Marchesini Group S.p.A, Universal Robots A/S, and Yaskawa Electric Corporation.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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