Global Industrial Automation in Life Sciences are expected to make a significant contribution to the overall industry.
According to a lead Analyst "The industrial automation market in the life sciences industry is fairly fragmented with several companies offering services and document management systems such as maintenance management system (MMS), laboratory information management system, manufacturing resource planning system and order management system. Moreover, automation in the life sciences will also reduce the number of occupational hazards and injuries. These factors will contribute to the cost-effectiveness of industrial automation systems, which will lead to the growth of the market in the life sciences industry". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.
According to the report, some of the important driving forces behind the market growth are Implementation of Industrial Automation, Improving Product and Services Quality in LifeSciences, Adoption of Automation by Life Sciences Companies and Changing Demographics & Rapid Improvement in Sensor Technology. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Players, additional restraints impacting market are Risk of Cybersecurity in Industrial Automation in LifeSciences and High Speed and High Bandwidth Internet is Required For Sending and Accessing Data across Cloud-Based Environment which is continuously seeking attention of Industry Experts and Decision makers.
The Industrial Automation in Life Sciences Ecosystem: 2018-2024 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the Industrial Automation in Life Sciences market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2018 till 2024. The forecasts are segmented by Type (DCS [Distributed Control System], PLC [ Programmable Logic Controller], SCADA [Supervisory Control & Data Acquisition] and MES [Military Engineer Services]), by Application (Biotechnology, Medical Device and Pharmaceuticals) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Data Sources & Methodology The primary sources involves the industry experts from the Industrial Automation in Life Sciences Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.