Pharmaceutical Automation Market Worth $18.2 Billion by 2029 – Exclusive Report by Meticulous Research – GlobeNewswire

| Source: Meticulous Market Research Pvt. Ltd. Meticulous Market Research Pvt. Ltd.
Pune, INDIA
Redding, California, May 18, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, Pharmaceutical Automation Market by Component (Plant-level Controls, Enterprise-level Controls, Plant Instrumentation), Mode of Automation (Semi-automatic, Fully-automatic), End User, and Geography – Global Forecast to 2029, the pharmaceutical automation market is projected to reach $18.2 billion by 2029 at a CAGR of 12.0% during the forecast period of 2022-2029.
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Increasing adoption of robots in pharmaceutical manufacturing, government initiatives to promote industrial development, rising investments for transforming conventional production facilities, and growing demand for safe and digitized production processes are expected to support the growth of this market during the forecast period.
The high initial cost of procuring automation hardware and software is expected to restrain the growth of this market. Furthermore, the growing demand for IIoT in pharmaceutical manufacturing and the huge demand for vaccine manufacturing for COVID-19 are expected to offer significant growth opportunities for players operating in this market. However, the limited availability of skilled laborers and cybersecurity risks associated with automated systems are major challenges for the growth of this market.
The Impact of COVID-19 on the Pharmaceutical Automation Market
The outbreak of the COVID-19 pandemic increased the demand for testing and production, resulting in an increased demand for automation solutions. The pharma sector has transitioned from ad hoc automation deployments to implementing robots as an important tool in the global battle against COVID-19. The requirement for robot arms for viral DNA testing has increased due to the COVID-19 pandemic. Furthermore, many pharmaceutical companies have quickly adopted automation and robotics solutions for automated COVID-19 testing.
Pharmaceutical companies have effectively utilized the advantages of automation to maintain or increase production without compromising quality or safety. Automation has allowed pharmaceutical companies to ramp up production safely and build production lines faster and in a more scalable way. The COVID-19 pandemic has accelerated pre-existing trends, such as flexible automation, digitalization, batch production, and personalization.
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The COVID-19 pandemic propelled the demand for SCARA and collaborative robots for pharmaceutical manufacturing. Collaborative robots have allowed pharmaceutical research companies to automate repetitive tasks, and SCARA robots have enabled pharmaceutical companies to perform high-volume tasks such as COVID-19 sample testing with greater accuracy.
The increasing demand for vaccines is expected to increase the adoption of automation for pharmaceutical manufacturing. If the effects of vaccination are short-term due to virus mutations, there will be an increase in robotics adoption as more spending will be catered to automation and robotics by the pharmaceutical industry.
The pharmaceutical automation market is segmented based on component (enterprise-level controls [product lifecycle management, enterprise resource planning, manufacturing execution systems], plant instrumentation [motors & drives, robots, sensors, machine vision systems, relays & switches, and other plant instrumentation components], plant-level controls [supervisory control and data acquisition, distributed control systems, programmable logic controllers, other plant-level controls]), mode of automation (semi-automatic, fully-automatic), end user (pharmaceutical industry, biotech industry), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on component, the pharmaceutical automation market is segmented into enterprise-level controls, plant instrumentation, and plant-level controls. In 2022, the enterprise-level controls segment is estimated to account for the largest share of the pharmaceutical automation market. The large market share of this segment is attributed to the benefits of implementing product lifecycle management, enterprise resource planning, and manufacturing execution systems solutions at the enterprise level. Manufacturing execution systems solutions integrated with process control systems enable pharmaceutical manufacturers to increase productivity and efficiency at a lower cost and significantly reduce the time-to-market of new products. Furthermore, these systems enable organizations to maintain and manage records of their lifecycle, resulting in cost savings. However, the plant instrumentation segment is expected to witness a significant growth rate during the forecast period .
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Based on mode of automation, the pharmaceutical automation market is segmented into semi-automatic and fully-automatic systems. In 2022, the semi-automatic segment is expected to account for the largest share of the pharmaceutical automation market. However, the fully-automatic segment is expected to register a higher CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing installation of complete automation solutions in end-use industries such as chemicals & materials, metals & mining, oil & gas, and paper & pulp. Fully-automatic solutions aid the companies in these industries to efficiently manage activities on-site and in offices.
Based on the end user, the pharmaceutical automation market is segmented into pharmaceutical industry and biotech industry. In 2022, the pharmaceutical industry segment is expected to account for the largest share of the pharmaceutical automation market. The large market share of this segment is attributed to the rapid adoption of continuous improvement process (CIP) to improve production flexibility and efficiency and reduce wastage. Furthermore, prominent technology players such as Microsoft, IBM, and Google are engaged in developing automation and cloud solutions for the pharmaceutical and healthcare industry to close security gaps and protect healthcare and pharmaceutical production networks from external attacks.
Based on geography, Asia-Pacific is expected to account for the largest share of the pharmaceutical automation market, followed by Europe and North America. Asia-Pacific’s large market share is attributed to high technical awareness regarding the usage of robotics in China, Japan, and Singapore. The Asian pharmaceutical manufacturing sector has robust production capabilities, which further fuels the demand for pharmaceutical automation solutions in Asia-Pacific.
The major players operating in the pharmaceutical automation market include ABB Group (Switzerland), Rockwell Automation (U.S.), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Schneider Electric (France), Yokogawa Electric Corporation (Japan), KUKA AG (Germany), Emerson Electric (U.S.), Fanuc (Japan), Honeywell International (U.S.), Mitsubishi Electric Corporation (Japan), OMRON Corporation (Japan), Advantech Co., Ltd. (Taiwan), and Fuji Electric Co., Ltd. (Japan).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pharmaceutical-automation-market-5280
Scope of the Report:
Pharmaceutical Automation Market, by Component
Pharmaceutical Automation Market, by Mode of Automation
Pharmaceutical Automation Market, by End User
Pharmaceutical Automation Market, by Geography
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     Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research
Related Report:
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https://www.meticulousresearch.com/product/industrial-automation-market-5172#toc
Industrial Automation Spares Market by Type (Electrical Components, Electronic Components, Mechanical Components), End User (Oil & Gas, Automotive, F&B, Semiconductor & Electronics, Power), and Geography – Global Forecast to 2029
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Content Source: https://www.meticulousresearch.com/pressrelease/504/pharmaceutical-automation-market-2029

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