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Smart Life Sciences Manufacturing Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Smart Life Sciences Manufacturing Market
What Is the Expected Smart Life Sciences Manufacturing Market Size During the Forecast Period?
Recent years have seen a speedy expansion in the market size of smart life sciences manufacturing. Its growth is predicted to accelerate from $25.07 billion in 2024 to $28.76 billion in 2025 recording a compound annual growth rate (CAGR) of 14.7%. The growth in this historical timeframe can be traced back to the optimization of supply chains, the rise in remote monitoring, the growing demand for precision medicine, and an overall increase in healthcare spending.
The market size for smart life sciences manufacturing is anticipated to experience swift expansion in the upcoming years. The projections show it enlarging to a whopping $50.92 billion by 2029, increasing at a compound annual growth rate (CAGR) of 15.4%. This forecasted expansion can be credited to the progression in advanced materials, rising demands for wearable and flexible electronics, improved energy efficiency, and an upward surge in the requisites for IoT devices. The period of anticipation also involves several significant trends such as the growth in artificial intelligence (AI) and machine learning (ML), the implementation of RFID and sensor technologies, photovoltaic applications, along with the development in display technologies.
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What Are the High-Growth Segments in the Smart Life Sciences Manufacturing Market?
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
Subsegments:
1) By Solution: Manufacturing Execution Systems (MES), Quality Management Systems (QMS), Automation and Control, Data Analytics And Reporting, Digital Twin Technology, Supply Chain Management
2) By Services: Consulting Services, Integration And Implementation, Maintenance and Support, Training And Education, Managed Services
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What Key Drivers Are Expected to Influence Future Smart Life Sciences Manufacturing Market Growth?
The smart life sciences manufacturing market's growth is set to be influenced by the growing acceptance of automation technologies. Automation in this context refers to the development of software and systems to replace repeatable operations and lessen the need for manual efforts. Crucial in smart life sciences manufacturing, automation enhances efficiency, quality, and safety in pharmaceuticals, biotech products, medical equipment, and more. For example, data shared by the International Federation of Robotics, a non-profit based in Germany, revealed that three million industrial robots are operational globally as of February 2022. This number represents a 10% rise from the previous year. Therefore, the surge in industrial automation contributes to the smart life sciences manufacturing market's positive trajectory. The advancement of the smart life sciences manufacturing market is also influenced greatly by the increasing demand for personalized medicine. Here, personalized medicine is characterized by a medical treatment approach that individualizes medical decisions, practices, procedures, and therapies for each patient. The upswing in personalized medicine demand is directing the life sciences sector toward the adoption of smart manufacturing technologies to allow efficient, exact, and flexible production of custom pharmaceuticals and therapies, ultimately enhancing treatment results. As an example, the Personalized Medicine Coalition, an American non-profit, reported that in 2023, 16 new personalized treatments were given FDA approval for use on rare disease patients-a significant increase from six in 2022; these treatments included seven cancer drugs and three for other disorders and illnesses. Thus, the escalating demand for personalized medicine contributes to the smart life sciences manufacturing market's expansion.
Which Companies Hold the Largest Share Across Different Smart Life Sciences Manufacturing Market Segments?
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.
What Are the Latest Developing Trends in the Smart Life Sciences Manufacturing Market?
Prominent market participants are focusing on the development of innovative AI medical technologies to maintain their market standing. In the realm of smart life science, there is a demand for AI-driven enhancements to process and interpret extensive data, streamline operations, and facilitiate personalized interactions. To illustrate, Google Cloud Platform LLC, a tech firm based in the US, introduced two novel AI-infused solutions in May 2023 to hasten the process of drug discovery and precision medicine. These cutting-edge tools are capable of aiding researchers in discovering new medication in a faster and more efficient manner. Not only can these tools enhance the precision of drug development, but they can also cut down the expenses associated with bringing new medicine to marketplace. Furthermore, they have the capacity to expedite the inception of new drugs and positively impact patient outcomes.
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What Are the Emerging Geographies for The Smart Life Sciences Manufacturing Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Life Sciences Manufacturing Market?
2. What is the CAGR expected in the Smart Life Sciences Manufacturing Market?
3. What Are the Key Innovations Transforming the Smart Life Sciences Manufacturing Industry?
4. Which Region Is Leading the Smart Life Sciences Manufacturing Market?
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