Industrial Automation Market in Life Sciences Industry by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR40901
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 Industrial Automation Market in Life Sciences Industry - 2021-2025

The industrial automation market size in life sciences industry is expected to reach a value of USD 2.42 billion, at a CAGR of 7.35%, during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as improved quality of product and service in life sciences are projected to significantly support market growth during the forecast period. Our research experts have thoroughly evaluated and covered the latest trends and challenges that will have a far-reaching effect on the market growth.

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Industrial Automation Market Segments in Life Sciences Industry

From this Technavio report, get actionable insights on the industrial automation market segments in life sciences industry to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by product (DCS, SCADA, PLC, and MES) and geography (North America, Europe, APAC, South America, and MEA) in this industrial automation market in life sciences industry report to pursue growth opportunities.

Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. This research report entails a thorough qualitative and quantitative analysis on the post-pandemic industrial automation market predictions in life sciences industry on consumer demand changes for 2021-2025.

Industrial Automation Market in Life Sciences Industry Key Vendors and Competitive Analysis

Technavio research specialists have included significant well-thought-out business planning approaches of key players in this report. The industrial automation market in life sciences industry is fragmented and the vendors are deploying growth strategies such as investing heavily in R&D and incorporating a high degree of customization in their offerings to gain a competitive advantage.

The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Get the full report to understand the COVID-19 impact on the growth of the industrial automation market share in life sciences industry during 2021-2025.

The industrial automation market forecast report of life sciences industry comprises complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Industrial Automation Market in Life Sciences Industry Vendors

Regional Opportunities in Industrial Automation Market in Life Sciences Industry - 2021-2025

39% of the industrial automation market growth in life sciences industry will originate from North America during the forecast period. The US is a key market for industrial automation in life sciences industry in North America. This report encompasses exclusive information on potential business locations and understand the demographics of current and prospective customers.

Industrial Automation Market in Life Sciences Industry Share by Geography

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North America has been exhibiting a significant growth rate for industrial automation market in life sciences industry vendors. Factors such as the provision of premium services to the burgeoning aging population are accelerating the industrial automation market growth in life sciences industry in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click on the image above.

The industrial automation market share growth in life sciences industry in North America will be faster than the growth of the market in Europe, MEA, and South America. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.

Industrial Automation Market Share in Life Sciences Industry and Revenue by Product

Industrial Automation Market in Life Sciences Industry Share by Product

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The industrial automation market share growth in life sciences industry by the distributed control systems (DCS) segment will be significant during the forecast period. The primary factor prompting the increasing use of 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. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial automation market size in the life sciences industry.

From the industrial automation market segmentation insights of life sciences industry, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentations will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.

 Key Industrial Automation Market Drivers & Trends in Life Sciences Industry

While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize business planning and sustain market competition. One of the key factors impeding industrial automation market growth in the life sciences industry is infrastructural and integration issues. In this research report, our analysts have elucidated exhaustive all key industry trends, drivers, and challenges, which will help companies evaluate and develop growth strategies.

The life sciences industry is increasingly adopting industrial automation to eliminate issues associated with human error and fatigue, which will eventually improve product and service qualities. Moreover, the use of automation in the life sciences industry has freed up human resources, enabling them to focus on highly skilled tasks that give due cognizance to their clinical prowess and expertise. Industrial automation also helps in establishing standardization of care for patients, which eventually increases the percentage of predictable outcomes when compared to service by people. In such a setup, automation will easily detect and promptly rectify any deviation by a patient from the care plan. Furthermore, processes such as contracts management, medical records management, denials management, billing, order entry, claims management, and reimbursement management are being automated to attain better productivity and cost-optimization. These beneficial factors have increased the sales of vendors, contributing to the industrial automation market share growth in the life sciences industry.

Rapid improvement in sensor technology is one of the critical industrial automation market trends in the life sciences industry. Currently, there is rapid development in sensor technology with a decline in the costs of sensors. The life science industry is adopting smart sensors that are highly reliable, with low maintenance and repair costs, and minimum replacement time, to boost operational efficiencies. Vendors are offering advanced sensor technologies. For instance, PARKER HANNIFIN has brought out SensoNODE Blue Sensors that are compressed, energy-efficient, and have Bluetooth-enabled wireless sensors. Vendors are also making strategic alliances to gain access to innovative sensor technologies.

This industrial automation market analysis report of life sciences industry provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.

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Industrial Automation Market Report Outlook of Life Sciences Industry

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial automation market growth in life sciences industry during the next five years
  • Precise estimation of the industrial automation market size in life sciences industry and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial automation market in life sciences industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial automation market vendors in life sciences industry 

Buy the Industrial Automation Market Report of Life Sciences Industry now to reimage your business strategies!

 

Industrial Automation Market In Life Sciences Industry Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.35%

Market growth 2021-2025

$ 2.42 billion

Market structure

Fragmented

YoY growth (%)

5.78

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 39%

Key consumer countries

US, China, Italy, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parker Hannifin Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

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.

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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.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The industrial automation market in life sciences industry market growth will increase by $1058.33 million during 2019-2024.
The industrial automation market in life sciences industry market is expected to grow at a CAGR of 3.70% during 2019-2024.
Technavio has segmented the industrial automation market in life sciences industry market by product (DCS, SCADA, PLC, and MES) and geographic (North America, Europe, APAC, South America, and MEA).
ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parker Hannifin Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corp. are a few of the key vendors in the industrial automation market in life sciences industry market.
North America will register the highest growth rate of 39.63% among the other regions. Therefore, the industrial automation market in life sciences industry market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the industrial automation market in life sciences industry market growth are:
  • Growing global demand for healthcare services
  • Open process automation
The industrial automation market in life sciences industry market vendors should focus on grabbing business opportunities from the dcs segment as it accounted for the largest market share in the base year.
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