PUBLISHER: Meticulous Research | PRODUCT CODE: 1565906
PUBLISHER: Meticulous Research | PRODUCT CODE: 1565906
The research report titled, 'Global Pharmaceutical Automation Market by Offering (Solutions and Services), Mode of Automation (Semi-automatic Systems and Fully Automatic Systems), End User (Pharmaceutical Industry and Biotech Industry), & Geography -Forecasts to 2031', provides in-depth analysis of pharmaceutical automation market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.
The pharmaceutical automation market is projected to reach $25.11 billion by 2031, at a CAGR of 10.8% from 2024 to 2031. The growth of the global pharmaceutical automation market is fueled by the rising adoption of robots in pharmaceutical manufacturing, government initiatives to support industrial automation, and increasing demand for energy-efficient systems. However, the high capital expenditure (CAPEX) required may hinder market growth.
Furthermore, the rising demand for IIoT in pharmaceutical manufacturing is expected to generate growth opportunities for the stakeholders in this market. However, the lack of availability of a skilled workforce and cybersecurity risk associated with automated systems is a major challenge impacting the market growth.
Based on offering, the pharmaceutical automation market is segmented into solutions and services. In 2024, the solutions segment is expected to account for a larger share of 87.5% of the global pharmaceutical automation market. The segment's large share is due to the increasing demand for automation to ensure high-quality and reliable manufacturing, the rising need for real-time monitoring and predictive maintenance capabilities, and the growing need for operational efficiency while reducing operational costs and downtime.
Furthermore, the solutions segment is poised to register a higher CAGR during the forecast period.
Based on mode of automation, the pharmaceutical automation market is segmented into semi-automatic systems and fully automatic systems. In 2024, the semi-automatic systems segment is expected to account for a larger share of 57.4% of the global pharmaceutical automation market. The segment's large share is due to the effectiveness of semi-automatic systems in streamlining processes while still enabling human oversight. This balance is essential for maintaining quality control in the pharmaceutical industry.
However, the fully automatic systems segment is anticipated to register a higher CAGR during the forecast period. The growth of this segment is attributed to growing adoption of fully automatic systems by large scale companies to increase their throughput volumes by automating the feeding and assembly processes.
Based on end user, the pharmaceutical automation market is segmented into the pharmaceutical industry and the biotech industry. In 2024, the pharmaceutical industry segment is expected to account for a larger share of 61.7% of the global pharmaceutical automation market. The segment's large share is due to the increasing need for automation in manufacturing facilities, the enforcement of stringent regulations in the pharmaceutical industry, the integration of advanced technologies such as machine vision, spectroscopy, and chromatography in inspection systems, and the growing application of AI technology in pharmaceutical manufacturing.
Furthermore, the pharmaceutical industry segment is projected to register the highest CAGR during the forecast period.
Based on geography, the pharmaceutical automation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 32.9% of the global pharmaceutical automation market. The region's large share is due to the rising digitalization and adoption of Industry 4.0 technologies in the pharmaceutical industry to improve efficiency, reduce waste, and enhance product quality, the increasing need to enhance production through automation and intelligent process technologies, and the growing demand for pharmaceutical automation.
However, Asia-Pacific is poised to register the highest CAGR of 11.8% during the forecast period. The growth of this regional market is driven by pharmaceutical companies' increasing focus on expanding manufacturing facilities, increasing investments in innovative technologies, and advancements in robotics & automation.
Some of the key players operating in the pharmaceutical automation market are Siemens AG (Germany), Emerson Electric (U.S.), Mitsubishi Electric Corporation (Japan), ABB Ltd (Switzerland), FANUC CORPORATION (Japan), Honeywell International Inc. (U.S.), KUKA AG (Germany), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), YASKAWA Electric Corporation (Japan), Yokogawa Electric Corporation (Japan), General Electric Company (U.S.), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), and Fuji Electric Co., Ltd. (Japan).
Pharmaceutical Automation Market Assessment-by Offering
Pharmaceutical Automation Market Assessment-by Mode of Automation
Pharmaceutical Automation Market Assessment-by End User
Pharmaceutical Automation Market Assessment-by Geography