Collaborative Pharmaceutical Robots Market Overview
Collaborative pharmaceutical robots are referred to a robot which is designed to assist human beings as an assistor in a specific task. Collaborative pharmaceutical robots are designed for assisting various operations in the pharmaceutical industry such as assembling, picking and packaging, inspection of pharmaceutical drugs and others.
Market Size and Forecast
Global collaborative pharmaceutical robots market is anticipated to flourish at a robust growth over the forecast period i.e. 2017-2024. Further, the market of collaborative pharmaceutical robots is riding on the back of various factors such as growing adoption of collaborative robots by pharmaceutical industry to lower down the operational cost, improve quality and operational flexibility. Additionally, rising regulations related with human safety in pharmaceuticals industry is projected to fuel the demand for collaborative pharmaceutical robots.
On the basis of application, the global collaborative pharmaceutical robots market is segmented into assembly, picking and packaging, inspection of pharmaceutical drugs, and laboratory applications. Further, the picking and packaging segment is expected to dominate the overall segment by the end of 2024. Likely, this growth of picking and packaging segment is attributed to increasing demand for personalized packaging.
On the basis of regional platform, the most prominent regional markets are North America and Europe. North America region is expected to dominate the market during the forecast period aided by U.S. Further, rising technological advancement and increasing research and development activities related with drugs are believed to bolster the growth of collaborative pharmaceutical robots market in this region.
Europe region captured the second largest market of collaborative pharmaceutical robots in terms of revenue in 2016. Further, Western Europe countries such as U.K., Germany and others are believed to be the major countries witnessing the augmented demand for collaborative pharmaceutical robots. This augmented demand is attributed to the rising drug discovery and clinical trials. Moreover, presence of major key players such as Universal Robots GmbH in Europe region is envisioned to propel the growth of collaborative pharmaceutical robots market.
Asia-Pacific region is believed to the fastest the growing collaborative pharmaceutical robots market during the forecast period owing to rapid urbanization and low price of collaborative pharmaceutical robots compared to traditional robots. Japan and China are the major countries driving the growth of collaborative pharmaceutical robots market in this region due to high adoption of pharmaceutical robots to minimize human errors.
Our in-depth analysis has segmented global collaborative pharmaceutical robots market into the following segments:
By Payload Capacity
Global collaborative pharmaceutical robots market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factors such as increasing drug development activities and growing adoption of innovative technology to curb the operational cost and human errors are envisioned to be the dynamic factor behind the rapid growth of collaborative pharmaceutical robots market. Further, increasing regulation regarding human safety in pharmaceutical industry is projected to boost the demand for collaborative pharmaceutical robots across the globe.
Moreover, low cost associated with collaborative pharmaceutical robots and growing implementation of collaborative pharmaceutical robots for material handling & packaging, quality testing and others are predicted to foster the growth of collaborative pharmaceutical robots market by the end of 2024. Additionally, the various factors propelling the growth of collaborative pharmaceutical robots market includes rising labor cost, rising per capita income of developing nations and adoption of collaborative pharmaceutical robots by small and medium-sized enterprises.
However, high initial investment associated with the installation of collaborative pharmaceutical robots is anticipated to dampen the growth of global collaborative pharmaceutical robots market over the forecast period. Moreover, high maintenance associated with collaborative pharmaceutical robots is expected to hamper the growth of this market.
Scope and Context
Overview of the Parent Market
The global collaborative pharmaceutical robots market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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