Pharmaceutical Robot Market Size Is Expected To Reach A Value Of US$ 431 Million By 2033: Fact.MR Report
FACT.MR
4 min read
FACT.MR
Growing Need for Increased Drug Productivity Leading to Higher Reliance on Pharmaceutical Robots
Rockville , Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global pharmaceutical robot market is projected to expand at a CAGR of 6.7% from 2023 to 2033, as revealed by Fact.MR, a market research and competitive intelligence provider, in its research report. Worldwide demand for pharmaceutical automation is forecasted to reach a market value of US$ 431 million by 2033-end.
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.
Report Attribute
Details
Value Projection (2033)
US$ 431 Million
Growth Rate (2023-2033)
6.7% CAGR
No. of pages
170 Pages
No. of Tables
25 Tables
No. of Figures
132 Figures
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.
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.
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).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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