Latin America Pharmaceutical Collaborative Robots Market Size & Outlook
Latin America pharmaceutical collaborative robots market, 2018-2030 (US$M)
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Latin America pharmaceutical collaborative robots market highlights
- The Latin America pharmaceutical collaborative robots market generated a revenue of USD 2.3 million in 2023.
- The market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, picking and packaging was the largest revenue generating application in 2023.
- Picking and Packaging is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 2.3 million |
| Market revenue in 2030 | USD 4.7 million |
| Growth rate | 11.1% (CAGR from 2023 to 2030) |
| Largest segment | Picking and packaging |
| Fastest growing segment | Picking and Packaging |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Picking and Packaging, Inspection of Pharmaceutical Drugs, Laboratory Applications |
| Key market players worldwide | ABB Ltd, Teradyne Inc, Mitsubishi Electric Corp, Kawasaki Heavy Industries Ltd, YASKAWA Electric Corp, Fanuc Corp, OMRON Corp, Seiko Epson Corp, Denso Corp, KUKA Robotics |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.1% of the global pharmaceutical collaborative robots market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 17.0 million by 2030.
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Pharmaceutical Collaborative Robots Market Scope
Pharmaceutical Collaborative Robots Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America pharmaceutical collaborative robots market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmaceutical collaborative robots market will help companies and investors design strategic landscapes.
Picking and packaging was the largest segment with a revenue share of 52.17% in 2023. Horizon Databook has segmented the Latin America pharmaceutical collaborative robots market based on picking and packaging, inspection of pharmaceutical drugs, laboratory applications covering the revenue growth of each sub-segment from 2018 to 2030.
The pharmaceutical collaborative robots market in Latin America is expected to grow significantly due to the technological advancements and research breakthroughs in emerging nations, such as Brazil and Mexico. These countries present lucrative opportunities due to their evolving healthcare landscapes and expanding pharmaceutical industries.
According to the International Federation of Robotics (IFR), Brazil experienced a steady increase in robot imports, growing at an annual rate of 5.3% since 2012, with 961 robot shipments recorded in 2017 and 1,200 units by 2021.
The need for increased efficiency, productivity, and compliance with stringent regulatory standards is expected to drive the demand for collaborative robots in pharmaceutical manufacturing. Cobots offer pharmaceutical companies in Latin America versatile solutions for various tasks, including drug formulation, packaging, labeling, and quality control.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America pharmaceutical collaborative robots market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America pharmaceutical collaborative robots market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America pharmaceutical collaborative robots market size, by country, 2018-2030 (US$M)
Latin America Pharmaceutical Collaborative Robots Market Outlook Share, 2023 & 2030 (US$M)
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