The pharmaceutical robots market is projected to reach US$119.5m by 2021 from US$64.4m in 2016, at a CAGR of 13.2 per cent.
While traditional robots segment is expected to command the largest share of the global market in 2016, Asia Pacific is expected to be the region to account for the largest share of the global pharmaceutical robots market. The large share and high growth of Asia Pacific can be attributed to the increase in domestic industrial robot companies, flourishing pharmaceutical industry, increasing number of conferences and exhibitions, investment and funding in the industrial robots industry, and Japan’s Robot Strategy.
The market witnesses high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies to increase their market shares and establish a strong foothold in the global pharmaceutical robots market.