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The Industrial Automation Market in Life Sciences Industry Market is estimated to grow at a CAGR of 10.31% between 2022 and 2027. The size of the market is forecast to increase by USD 4,127.65 million. The growth of the market depends on several factors, including growing global demand for healthcare services, improved data security, and improved quality of products and services in life sciences.
This report extensively covers market segmentation by product (DCSA, SCADA, PLCA, and MES), deployment (onsite and decentralized), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing global demand for healthcare services is notably driving the industrial automation market growth. An increase in the number of people will likely access and adopt modern healthcare services globally during the forecast period, spurred by the twin-pronged effects of a rise in the ageing population and disposable income. Further, with a growth in the growing issue of chronic diseases, people in need of medical assistance is increasing, and their numbers are expected to rise going forward. With demographics changing drastically, the entire infrastructure of the current life sciences industry is expected to come under extreme pressure, as the volume of care services and personnel required to cater to the growth in patient numbers will shoot up dramatically.
Amid such a backdrop, industrial automation is foreseen as a must-have factor from the perspective of enhancing strategic business performance in the industry. The industry will find it extremely difficult to effectively service the high patient influx expected during the forecast period with its current staffing volumes. Besides the high costs involved in manually catering to such huge patient numbers, the entire life sciences industry is anticipated to witness an acute shortage of skilled personnel. The growing demand for healthcare services will lead to increased adoption of industrial automation across all life sciences industry verticals in a concerted endeavour to reduce human effort, achieve operational efficiencies, and improve overall service quality.
Open process automation is the primary trend in the industrial automation market in the life sciences industry market. The Open Process Automation (OPA) vision from the Open Process Automation Forum is expected to gain more traction during the forecast period. This forum is one of the platforms through which key industry stakeholders are making concerted efforts to resolve the issue of interoperability in industrial automation.
ExxonMobil announced to work with Yokogawa Electric Corporation, an automation-based services company that delivers project execution capabilities for all automation-related aspects of a project. The company worked with Yokogawa Electric Corporation to be the open process automation (OPA) system integrator, which would be responsible for establishing the company's OPA testbed. It would help the company develop an integrated testbed platform to evaluate standards used in industrial fields, including the pharmaceutical sector. In the long run, the OPA vision is expected to lower the cost factors, given the highly modularized and reusable components with a high interoperability factor, and reduce the level of training required to operate such systems.
Infrastructural and integration issues are major challenges impeding the industrial automation market in the life sciences industry market growth. Infrastructural and integration issues faced across processes in the industry are major challenges obstructing the growth of the market. High-speed and high-bandwidth Internet is required for the effective implementation of industrial automation, primarily for sending and accessing data across a cloud-based environment. Connectivity issues, power outages, and slow networks can cause system downtimes and hamper business productivity. These are major challenges in the effective implementation of industrial automation, especially in developing countries, as also among SMEs and startups.
Healthcare or pharmaceutical enterprises operating in an exceedingly heterogeneous environment using various proprietary tools and systems to handle and manage data can also face integration issues. This is because automation solutions and control technologies run on different configurations. End-users need to contend with interoperability issues when the interface fails to support the latest automation control systems. Moreover, any upgrades to industrial automation systems bring their own set of interoperability issues. Therefore, the implementation of industrial automation in the life sciences industry is hampered by various infrastructural and system integration issues.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Industrial Automation Market in Life Sciences Industry Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aspentech- The company offers industrial automation solutions such as electronic batch records.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the DCSA segment will be significant during the forecast period. The primary factor prompting the increasing use of distributed control systems (DCS) for effective process control is the stringent regulations governing the life sciences industry. As the adoption of technology is growing in the global life sciences industry, especially in the pharmaceutical sector, the development and integration of new systems and API products call for the effective deployment of DCS.
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The DCSA segment shows a gradual increase in the market share of USD 1,783.18 million in 2017 and continue to grow by 2021. Further, the faults in the traditional systems lead to the demand being expected to grow for upgrades across legacy DCS as well as new capacity additions, and these factors are expected to propel the market forward during the forecast period. The entire DCS market is witnessing extensive product development, and this trend is expected to stimulate demand during the forecast period. In addition, the advent of open-source DCS software is expected to drive the demand for DCS in small- and medium-sized enterprises that may not be financially capable of maintaining proprietary DCS. Furthermore, key companies are offering new services pertaining to DCS.
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North America is projected to hold a 39% share of the market in 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
One of the most crucial factors for the growing adoption of industrial automation is the provision of premium services to the burgeoning ageing population of North America. The rapidly increasing number of patients in the region is one of the prime drivers for the growing adoption of automation in a bid to de-stress the entire infrastructure of the life sciences industry. Further, consumers have started asking for sophisticated healthcare systems and solutions, given high household incomes and the growing need for better-quality services. This evolution in consumer demand is essentially encouraging the region's life sciences sector to implement automation with its aim to provide greater convenience and patient experience.
The outbreak of COVID-19 in 2020 and 2021 pushed companies to innovate their work processes. Manufacturers across the region are adopting automation technologies such as robotic process automation, artificial intelligence, and machine learning and using them to cut costs during this economic turmoil and provide faster services to customers. As healthcare systems seek operating efficiency and quick value creation, they are embracing enterprise automation strategies to enhance productivity in the region. This will drive the growth of industrial automation in the life sciences industry market in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
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Industrial Automation Market In Life Sciences Industry Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.31% |
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Market growth 2023-2027 |
USD 4,127.65 million |
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Market structure |
Fragmented |
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YoY growth (%) |
8.23 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 39% |
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Key countries |
US, China, Japan, Italy, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Applied Materials Inc., Aspen Technology Inc., Azbil Corp., Balluff GmbH, Danaher Corp., Dassault Systemes SE, Emerson Electric Co., Endress Hauser Group Services AG, Festo SE and Co. KG, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., Honeywell International Inc., Johnson Controls International Plc, Mitsubishi Electric Corp., OMRON Corp., and Parker Hannifin Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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