Overview and Scope
Smart life sciences manufacturing is a technology-driven strategy to monitor the production process in the life sciences business using Internet-connected gear. It is used to find opportunities for automating activities and to improve industrial performance through data analytics.
Sizing and Forecast
The smart life sciences manufacturing market size has grown rapidly in recent years. It will grow from $21.83 billion in 2024 to $25.07 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to supply chain optimization, increasing remote monitoring, demand for precision medicine, increasing healthcare expenditure.
The smart life sciences manufacturing market size is expected to see rapid growth in the next few years. It will grow to $43.75 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to advanced materials development, demand for flexible and wearable electronics, energy efficiency, increasing demand for iot devices. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML), RFID and sensor technologies, photovoltaic applications, display technologies.
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Segmentation & Regional Insights
The smart life sciences manufacturing market covered in this report is segmented –
1) By Component: Solution; Services
2) By Technology: Augmented Reality And Virtual Reality Systems; Internet of Things (IoT); Artificial Intelligence; Cybersecurity; Big Data; Other Technologies
3) By Application: Pharma; Bio-Pharma; Medical Device
Top 5 Major Players:
North America was the largest region in the smart life sciences manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart life sciences manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing adoption of automation is expected to propel the growth of the smart life sciences manufacturing market going forward. Automation is creating software and systems to replace repeatable processes and reduce manual intervention, which involves using instructions to create a repeated process that replaces manual work. Automation plays a significant role in smart life sciences manufacturing, where it helps improve efficiency, quality, and safety in the production of pharmaceuticals, biotechnology products, medical devices, and other related goods. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 3 million industrial robots are already in use in industries around the world, a 10% increase from 2021. Further, despite the global epidemic, new robot sales increased by 0.5%, with 384,000 units sold globally in 2020. In addition, global robot installations are predicted to rebound sharply in 2021, rising by 13% to 435,000 units. Therefore, the increase in industrial automation is driving the growth of the smart life sciences manufacturing market.
Key Industry Players
Major players in the smart life sciences manufacturing market are Pfizer Inc., Johnson and Johnson, Siemens AG, General Electric Co., F. Hoffmann-La Roche AG, International Business Machines Corporation, AbbVie Inc., Merck and Co. Inc., Novartis AG, Sophos Group PLC, Bristol Myers Squibb, Thermo Fisher Scientific Inc., GlaxoSmithKline PLC, Sanofi S.A., AstraZeneca PLC, Honeywell International Inc., ABB Ltd., Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Emerson Electric Co., Moderna Inc., Regeneron Pharmaceuticals, Biogen Inc., Vertex Pharmaceuticals, Rockwell Automation Inc., Bosch Rexroth AG, Alexion Pharmaceuticals, Fortinet Inc., Genentech Inc.
The smart life sciences manufacturing market report table of contents includes:
1. Executive Summary
2. Smart Life Sciences Manufacturing Market Characteristics
3. Smart Life Sciences Manufacturing Market Trends And Strategies
4. Smart Life Sciences Manufacturing Market – Macro Economic Scenario
5. Global Smart Life Sciences Manufacturing Market Size and Growth
32. Global Smart Life Sciences Manufacturing Market Competitive Benchmarking
33. Global Smart Life Sciences Manufacturing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Life Sciences Manufacturing Market
35. Smart Life Sciences Manufacturing Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Smart Life Sciences Manufacturing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Smart Life Sciences Manufacturing Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Smart Life Sciences Manufacturing Market, Segmentation By Application , Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Pfizer Inc. Financial Performance
Table 75: Johnson and Johnson Financial Performance
Table 76: Siemens AG Financial Performance
Table 77: General Electric Co. Financial Performance
Table 78: F. Hoffmann-La Roche AG Financial Performance
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