Smart Life Sciences Manufacturing Global Market Report 2024

The global smart life sciences manufacturing market has grown rapidly in recent years. It will grow from $21.83 billion in 2023 to $25.07 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to supply chain optimization, increasing remote monitoring, demand for precision medicine, increasing healthcare expenditure.

The global smart life sciences manufacturing market is expected to see rapid growth in the next few years. It will grow to $43.75 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to advanced materials development, demand for flexible and wearable electronics, energy efficiency, increasing demand for iot devices. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML), RFID and sensor technologies, photovoltaic applications, display technologies.

The escalating adoption of automation is poised to steer the growth of the smart life sciences manufacturing market in the foreseeable future. Automation entails the creation of software and systems to take over repetitive processes and curtail manual intervention, involving the utilization of instructions for establishing a recurrent process that supplants manual labor. Within smart life sciences manufacturing, automation assumes a pivotal role, enhancing efficiency, quality, and safety in the production of pharmaceuticals, biotechnology products, medical devices, and related commodities. For instance, in February 2022, data from the International Federation of Robotics, a Germany-based non-profit organization, indicated that industries across the globe already employ 3 million industrial robots, marking a 10% surge from 2021. Despite the global pandemic, the sales of new robots saw a 0.5% rise, with a global sale of 384,000 units in 2020. Moreover, a substantial resurgence in global robot installations is anticipated in 2021, with a projected surge of 13% to 435,000 units. Thus, the upswing in industrial automation propels the expansion of the smart life sciences manufacturing market.

The escalating demand for personalized medicine is poised to be a driving force in the growth of the smart life sciences manufacturing market. Personalized medicine entails an approach to medical treatment and healthcare that customizes medical decisions, practices, interventions, and therapies to cater to individual patients. The mounting need for personalized medicine is compelling the life sciences sector to adopt smart manufacturing technologies and procedures, enabling efficient, precise, and adaptable production of customized pharmaceuticals and therapies, thus enhancing treatment outcomes. For instance, as of October 2022, reports from STAT, a US-based health-focused news organization, indicated a presence of over 75,000 genetic testing products and 300 personalized medicines. Additionally, in 2023, as per data from the Personalized Medicine Coalition, a US-based advocacy group, in 2022, the FDA granted approval for personalized medicines for 34% of new drugs, marking a consistent trend over the past eight years, where they were approved for at least 25% of new drugs. Therefore, the surge in demand for personalized medicine propels the expansion of the smart life sciences manufacturing market.

The rising concerns about data loss and data privacy are anticipated to pose a restraint on the smart life sciences manufacturing market in the foreseeable future. Data loss can have a substantial impact on the smart life sciences manufacturing (LSM) sector, which relies on cutting-edge technologies like the Internet of Things (IoT), data analytics, and automation to improve the efficiency and quality of pharmaceutical and biotechnology manufacturing processes. For instance, a recent analysis by Code42 Software in July 2023 revealed an uptick in insider data loss incidents within 70% of health sciences companies. These incidents pose significant risks to the industry, potentially leading to the compromise of private patient information, intellectual property, and sensitive research data. Hence, the mounting concerns over data loss and data privacy are acting as a constraint on the smart life sciences manufacturing market.

Major players in the market are directing their efforts towards the development of cutting-edge AI (artificial intelligence) medical technologies to maintain their market position. In the realm of smart life sciences, advancements in AI are crucial for the analysis and interpretation of extensive data sets, process optimization, and enabling more personalized engagements. For instance, in May 2023, Google Cloud Platform LLC, a US-based technology company, introduced two new AI-powered solutions aimed at expediting drug discovery and precision medicine. This groundbreaking tool holds the potential to significantly enhance the speed and efficiency of drug research. Moreover, it promises to enhance the accuracy of drug development and reduce the costs associated with bringing new drugs to market. Ultimately, this innovation has the capacity to accelerate the introduction of new drugs, ultimately benefiting patients' lives.

In October 2022, Burke Porter Group (BPG), a US-based company specializing in advanced technology solutions, completed the acquisition of D&K Engineering Inc. The specific financial terms of the deal remain undisclosed. Through this strategic move, Burke Porter Group seeks to augment its proficiency in life sciences, reinforce its manufacturing capabilities, and tap into D&K's valuable engineering know-how. D&K Engineering Inc. is a US-headquartered firm known for providing services in the realm of intelligent life sciences manufacturing.

Major players 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.

North America was the largest region in the smart life sciences manufacturing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart life sciences manufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart life sciences manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of smart life sciences manufacturing are solutions and services. Solutions denote distinct and essential components within a larger system, incorporating various technologies like augmented reality and virtual reality systems, the Internet of Things (IoT), artificial intelligence, cybersecurity, big data, among others. These technologies find applications in pharmaceuticals, biopharmaceuticals, and medical devices.

This report provides smart life sciences manufacturing market statistics, including smart life sciences manufacturing industry global market size, regional shares, competitors with a smart life sciences manufacturing market share, detailed smart life sciences manufacturing market segments, market trends and opportunities and any further data you may need to thrive in the smart life sciences manufacturing industry. This smart life sciences manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart life sciences manufacturing includes revenues earned by entities by providing services such as process automation and integration, supply chain optimization, bioprocessing solutions, process optimization, digital twin implementation and robotics integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart life sciences manufacturing market also includes sales of manufacturing execution systems, robotic systems, laboratory automation equipment, real-time monitoring devices and Internet of Things (IoT) devices that are used in providing smart life sciences manufacturing. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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