The global pharmaceutical robots market accounted to US$ 110.85 Mn in 2018 and is expected to grow at a CAGR of 13.6% during the forecast period 2019 – 2027
The players in the pharmaceutical robots market are adopting various inorganic and organic developments for individual growth, and thus, the growth of the market is highly dependent on them. The vital players in the pharmaceutical robots market focus on various growth strategies to enroot their presence and garner major market share across the globe. Some of the notable players in the global pharmaceutical robots market include ABB, Kawasaki Heavy Industries, Ltd., YASKAWA ELECTRIC CORPORATION, Universal Robots, Marchesini Group S.p.A., DENSO CORPORATION, FANUC CORPORATION, Epson India Pvt Ltd., SHIBUYA CORPORATION, TRANSCRIPTIC INC. among others. The major market players within recent years have been observed to invest a substantial amount towards the development of new products. This implies a bright picture of the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the pharmaceutical robots market. The global leaders in the market have been majorly adopting product launches and partnerships as one of the key strategies to improve its product lines in order to build up customer-centric benefits to its end users and enhance its geographic diversification.
The global pharmaceutical robots market leaders are expanding their activities across the world and are developing various innovative techniques to diagnose and treat hearing conditions. For instance, in April 2019, Epson Robots, the SCARA robot manufacturer in the world, announced that it had expanded its SCARA robot lineup with the introduction of 4 new robots – the LS3-B, LS6-B, LS10-B, and LS20-B. Thus, considering these developments for the robotics industry, the players operating for the pharmaceutical robots are likely to improve their performance and provide enormous benefits to their customers and end users.
Apart from the developments for the pharmaceutical robots market, the key market players are entering strategic partnerships and working towards developments of robots suitable to cater the demands for the healthcare industry as well as an array of other manufacturing and developing sectors. For instance, in June 2019, the boards of Transcriptic and 3Scan have unanimously approved an agreement to merge companies to combine their considerable engineering capabilities in developing automated systems for chemistry, biology, and tissue analysis. The resulting new company is Strateos. Moreover, in May 2019, Sepro group, a global leader in robots and industrial automation for the plastic industry, and universal robots have signed an agreement to collaborate within collaborative robotics and industrial automation. Therefore, the market is likely to experience rapid growth in the coming years.