PUBLISHER: The Business Research Company | PRODUCT CODE: 1695040
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695040
Smart life sciences manufacturing employs technology-driven strategies to oversee the production process within the life sciences industry, utilizing Internet-connected equipment. Its purpose is to identify opportunities for automation and enhance industrial performance through data analytics.
The main components of smart life sciences manufacturing are solutions and services. Solutions denote distinct and essential components within a larger system, incorporating various technologies like augmented reality and virtual reality systems, the Internet of Things (IoT), artificial intelligence, cybersecurity, big data, among others. These technologies find applications in pharmaceuticals, biopharmaceuticals, and medical devices.
The smart life sciences manufacturing market research report is one of a series of new reports from The Business Research Company that provides smart life sciences manufacturing market statistics, including smart life sciences manufacturing industry global market size, regional shares, competitors with a smart life sciences manufacturing market share, detailed smart life sciences manufacturing market segments, market trends and opportunities and any further data you may need to thrive in the smart life sciences manufacturing industry. This smart life sciences manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart life sciences manufacturing market size has grown rapidly in recent years. It will grow from $25.07 billion in 2024 to $28.76 billion in 2025 at a compound annual growth rate (CAGR) of 14.7%. 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 $50.92 billion in 2029 at a compound annual growth rate (CAGR) of 15.4%. 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.
The escalating adoption of automation is poised to steer the growth of the smart life sciences manufacturing market in the foreseeable future. Automation entails the creation of software and systems to take over repetitive processes and curtail manual intervention, involving the utilization of instructions for establishing a recurrent process that supplants manual labor. Within smart life sciences manufacturing, automation assumes a pivotal role, enhancing efficiency, quality, and safety in the production of pharmaceuticals, biotechnology products, medical devices, and related commodities. For instance, in February 2022, data from the International Federation of Robotics, a Germany-based non-profit organization, indicated that industries across the globe already employ 3 million industrial robots, marking a 10% surge from 2021. Thus, the upswing in industrial automation propels the expansion of the smart life sciences manufacturing market.
The rising demand for personalized medicine is expected to drive the growth of the smart life sciences manufacturing market. Personalized medicine tailors medical decisions, practices, and therapies to individual patients, and its increasing demand is pushing the life sciences industry to adopt smart manufacturing technologies. These technologies enable efficient, precise, and flexible production of customized pharmaceuticals and therapies, leading to improved treatment outcomes. For instance, in February 2024, the Personalized Medicine Coalition, a US-based non-profit organization, reported that in 2023, the FDA approved 16 new personalized treatments for rare disease patients, a significant increase from six in 2022. This includes seven cancer drugs and three treatments for other diseases and conditions. Therefore, the growing demand for personalized medicine is driving the smart life sciences manufacturing market.
Major players in the market are directing their efforts towards the development of cutting-edge AI (artificial intelligence) medical technologies to maintain their market position. In the realm of smart life sciences, advancements in AI are crucial for the analysis and interpretation of extensive data sets, process optimization, and enabling more personalized engagements. For instance, in May 2023, Google Cloud Platform LLC, a US-based technology company, introduced two new AI-powered solutions aimed at expediting drug discovery and precision medicine. This groundbreaking tool holds the potential to significantly enhance the speed and efficiency of drug research. Moreover, it promises to enhance the accuracy of drug development and reduce the costs associated with bringing new drugs to market. Ultimately, this innovation has the capacity to accelerate the introduction of new drugs, ultimately benefiting patients' lives.
In October 2022, Burke Porter Group (BPG), a US-based company specializing in advanced technology solutions, completed the acquisition of D&K Engineering Inc. The specific financial terms of the deal remain undisclosed. Through this strategic move, Burke Porter Group seeks to augment its proficiency in life sciences, reinforce its manufacturing capabilities, and tap into D&K's valuable engineering know-how. D&K Engineering Inc. is a US-headquartered firm known for providing services in the realm of intelligent life sciences manufacturing.
Major companies operating 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.
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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the smart life sciences manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart life sciences manufacturing includes revenues earned by entities by providing services such as process automation and integration, supply chain optimization, bioprocessing solutions, process optimization, digital twin implementation and robotics integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart life sciences manufacturing market also includes sales of manufacturing execution systems, robotic systems, laboratory automation equipment, real-time monitoring devices and Internet of Things (IoT) devices that are used in providing smart life sciences manufacturing. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Life Sciences Manufacturing Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart life sciences manufacturing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart life sciences manufacturing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart life sciences manufacturing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.