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Automation and Control System Market in Pharmaceutical and Biotech Industry is Growing at Significant Rate, 2020 - Persistence Market Research
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In addition, production requirements in pharmaceutical industry are increasing day by day. In pharmaceutical and biotech industry automation and control systems are mainly used for manufacturing and packaging, to provide high product quality. It also helps the pharmaceutical and biotech industry by saving energy and improving efficiency in manufacturing and packaging.
North America dominates the global market for automation and control system in pharmaceutical and biotech industry due to large number of aging population and accelerates investment in the industry. Asia followed by the Europe are expected to show high growth rates in the next five years in the global automation and control system market in pharmaceutical and biotech industry. China and India are expected to be the fastest growing automation and control system market in pharmaceutical and biotech industry in Asia-Pacific region. Some of the key driving forces for automation and control system market in pharmaceutical and biotech industry in emerging countries are increasing R&D investment, large pool of patients and rising government funding.
In recent times there is increased use of automation and control system in pharmaceutical and biotech industry due to increasing growth of biosimilars. Rise in generic drugs, increase in prevalence of chronic diseases, increasing need of productivity of pharmaceutical drugs and rise in investment by biotechnology market for new drugs are some of the key factors driving the growth for global automation and control system market in pharmaceutical and biotech industry. In addition, increasing healthcare awareness is also fuelling the growth of global automation and control system market in pharmaceutical and biotech industry. However, absence of skilled workforce and different standards adopted by different equipment manufacturers are some of the major factors restraining the growth for the global automation and control system market in pharmaceutical and biotech industry.
Increasing R&D investment and outsourcing of pharmaceutical companies would lead to growth in automation and control system market in pharmaceutical and biotech industry in Asia. In addition, cloud based technology would develop opportunity for the market. However, high cost involved could lead a challenge for global automation and control system market in pharmaceutical and biotech industry. Some of the trends for the global automation and control system market in pharmaceutical and biotech industry are steady shift from batch manufacturing to continuous manufacturing and single use technology in manufacturing.
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Some of the major companies operating in the global automation and control system market in pharmaceutical and biotech industry are Siemens AG, General Electric, M+W Group and Honeywell International.
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