Requirement of Accurate Real-Time Data in Production Management Process Drives Manufacturing Execution System in Life Sciences Market
According to our latest market study on "Manufacturing Execution System in Life Sciences Market Forecast to 2033 – Global Analysis – by offering, deployment, organization size, and application," the market is expected to grow from US$ 3,139.14 million in 2022 to US$ 10,456.54 million by 2033; it is estimated to register a CAGR of 12.0% from 2023 to 2033.
The increasing manufacturing execution system in life sciences market size can be attributed to the widespread adoption of MES in life sciences manufacturing. Implementing an MES in manufacturing plants helps pharmaceutical manufacturers improve scheduling and resource utilization, enhance manufacturing flexibility and process changeover, reduce work in progress (WIP), better material tracking, shorten the production cycle, reduce production record errors, and minimize product recalls. As the paper-based data gathering of the manufacturing process can expose companies to unnecessary risks, the demand for MES solutions is rising in the market. Additionally, the growing need for gathering accurate real-time data regarding the production management process is further fueling the growth of manufacturing execution system in life sciences market size. However, high cost of the product is the major restraining factor affecting the manufacturing execution system in life sciences market size to grow at the optimum level.
Manufacturing Execution System in Life Sciences Market Share - by Region, 2022
Manufacturing Execution System in Life Sciences Market Forecast to 2033 - COVID-19 Impact and Global Analysis By Offering (Software and Services), Deployment (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Pharmaceutical, Biotechnology, and Medical Devices)
Manufacturing Execution System in Life Sciences Market Size Report 2033
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The APAC manufacturing execution system in life sciences market is segmented into Australia, China, India, Japan, and South Korea. In terms of revenue, China dominated the manufacturing execution system in life sciences market share in the year 2022. India and China are the largest producers of generic drugs. In addition, India is one of the largest exporters of generic medicines in the world. It is home to several prominent generic drug manufacturers, such as Sun Pharmaceutical Industries Ltd, Aurobindo Pharma, and Cipla. The presence of such major drug manufacturers in the region results in a high demand for MES solutions in APAC.
The increasing of manufacturing execution system solutions in industries engaged in developing cell and gene therapies to provide personalized medicine for patients is expected to create an opportunity for companies in the manufacturing execution system in life sciences market during the forecast period. In addition, the shift of the market players to modern manufacturing execution system solutions to enhance production processes without requiring custom coding will further fuel the manufacturing execution system in life sciences growth of the market. The growing adoption of Pharma 4.0, which includes digitization of the pharmaceutical industry, is anticipated to be the manufacturing execution system in life sciences market trend during the forecast period.
The global manufacturing execution system in life sciences market is segmented on the basis of offering, deployment, organization size, and application. Based on offering, the market is segmented into software and services. Based on deployment, the market is segmented into on-premise and cloud. In terms of organization size, the market is segmented into SMEs and large enterprises. The large enterprises accounted for the largest manufacturing execution system in life sciences market share. Based on application, the market is segmented into pharmaceutical, biotechnology, and medical devices.
Korber AG, Siemens AG, General Electric, Emerson Electric, Schneider, Rockwell Automation, Apprentice FS Inc, ATS Global, Atachi Systems, LZ Lifescience Ltd, POMS Corporation, and Schneider Electric are among the key manufacturing execution system in life sciences market players profiled during this study. In addition, several other important market players were studied and analyzed during this market study to get a holistic view of the global market and its ecosystem.
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