Smart Life Sciences Manufacturing Market Size & Share Report 2033

Smart Life Sciences Manufacturing Market Forecast to 2033 - COVID-19 Impact and Global Analysis by Component (Solutions and Services), Technology [AR/VR Systems, Internet of Things (IoT), Artificial Intelligence (AI), Cybersecurity, Big Data, and Others], and Application (Pharma, Bio-Pharma, and Medical Device)

  • Report Code : TIPRE00029832
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 212
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The smart life sciences manufacturing market is projected to reach US$ 78,974.61 million by 2033 from US$ 18,649.50 million in 2022; it is expected to record a CAGR of 14.4% during 2023–2033.

The life sciences manufacturing process has changed significantly over the past ten years. Life science manufacturing is a complex process. A smart factory concept that interconnects machinery and system on the production site can simplify the manufacturing process. The system is also connected to the client, partner, and production site. After COVID-19 pandemic, many pharma and medical device manufacturers started to adopt pharma 4.0 esp. due to rising regulations and inspection concerns. Smart life sciences manufacturing, often known as Pharma 4.0, aims to provide practical guidance, embed regulatory best practices, and accelerate Pharma 4.0 transformations. The main goal is to allow organizations participating in the pharmaceutical product lifecycle to control the full potential of digitalization and provide faster therapeutic innovations & improved production processes for the benefit of end-users. These changes will bring huge opportunities to life science manufacturers in the coming years. Modern data analytics tools have allowed biotechnology researchers to create predictive analytics models and understand the most effective ways to achieve their goals and objectives. Big data, AI, virtual reality, data visualization, and data security are among the common technologies used in biotech laboratories. Such factors are expected to boost the smart life sciences manufacturing market size strongly in the coming years.

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Smart Life Sciences Manufacturing Market: Strategic Insights

Market Size Value inUS$ 18,649.50 million in 2022
Market Size Value byUS$ 78,974.61 million by 2033
Growth rateCAGR of 14.4% from 2023 to 2033
Forecast Period2023-2033
Base Year2022
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Lucrative Regions for Smart Life Sciences Manufacturing Market

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Market Insights – Smart Life Sciences Manufacturing Market

The pharmaceutical segment is a key contributor to the global industrial sector. Moreover, the demand and sales of medicine are increasing every day. Thus, pharmaceutical manufacturing businesses invest huge amounts of economic resources in R&D for bringing innovations to markets. Technology upgrades are the key to tackling future manufacturing problems. With this, the Pharma 4.0 market is gaining huge attention worldwide. In June 2022, GSK, a British Big Pharma, inaugurated its new aseptic smart manufacturing plant in Barnard Castle, England. This fully automated plant leverages digitalization to streamline the manufacturing process. This, in turn, would allow GSK to accelerate the launch of new medicines while cutting down on waste. In December 2020, Bayer AG announced the launch of a Cell and Gene Therapy Platform within its Pharmaceuticals division. This platform will combine multiple backbone functions for providing support across the entire value chain of the research and development of cell and gene therapies. In November 2020, the UK started building a “factory of the future” to renovate small-molecule drug production. Drugmakers, academic institutions, healthcare providers, and regulators are expected to come together at the facility to test and improve new technologies, including continuous, digital, and autonomous manufacturing. Hence, the growing adoption of digital transformation is expected to boost the smart life sciences manufacturing market size.

Component-Based Insights

The smart life sciences manufacturing market, by component, is bifurcated into solutions and services. The solutions segment is expected to hold a larger smart life sciences manufacturing market share during the forecast period, despite recording slower growth rates than the services segment. The pharmaceutical industry is rapidly adopting digital transformation as digitalization brings flexibility and efficiency to processes. With the growing complexity of production systems and processes, establishing interconnectivity and deploying robust smart factory solutions in line with good manufacturing practices (GMP) have become a strategic priority for life sciences companies. Moreover, Industry 4.0 has simplified the process of accessing operations data, along with enabling businesses to meet targeted key performance indicators (KPIs). Smart manufacturing solutions assist in quality management by monitoring the temperature and humidity of inventory, monitoring end-to-end process visibility, enhancing product consistency, and identifying specific issues related to batch manufacturing.  The life science industry engages in developing novel, effective, quality, and precise treatments. Pioneers in the industry are exploring new therapeutic areas and approaches by harnessing the latest technological advancements to gain a competitive edge. Such factors drive the smart life sciences manufacturing market growth for the solutions segment.

The smart life sciences manufacturing market is segmented on the basis of component, technology, and application. Based on component, the market is bifurcated into solutions and services. By technology, the smart life sciences manufacturing market is segmented into Augmented Reality/Virtual Reality (AR/VR) systems, Internet of Things (IoT), artificial intelligence (AI), cybersecurity, big data, and others. IoT segment commanded the largest smart life sciences manufacturing market share in 2022. Based on application, the smart life sciences manufacturing market is segmented into pharma, bio-pharma, and medical device. Based on geography, the smart life sciences manufacturing market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). ABB Ltd, Bosch Rexroth AG, Emerson Electric Co, Fortinet Inc, General Electric Co, Honeywell International Inc, IBM Corporation, Rockwell Automation, Siemens AG, and Sophos Group plc are among the key smart life sciences manufacturing market players.

Smart life sciences manufacturing market players mainly focus on partnerships to create customer value.

  • In February 2023, Theragent, a cell therapy CDMO focused on advancing next-generation cancer and rare disease treatments, signed a multi-year exclusive contract with Insight68, an AI-driven software provider that aims to digitalize and streamline the cell therapy manufacturing process. The partnership reinforces Theragent's commitment to 100% digital batch record compliance and elevates the company's reputation as a leading CDMO in the current biopharma manufacturing transformation.
  • In December 2022, Hovione announced a strategic collaboration with GEA for Advance Continuous Tableting. Hovione is a company engaged in industrializing and democratizing emerging pharmaceutical technologies. It offers amorphous solid spray-dried dispersions converted into dependable and scalable offerings, made available to all.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Technology, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What is the estimated global market size for smart life sciences manufacturing market?

The global smart life sciences manufacturing market was estimated to be US$ 18,649.50 million in 2022 and is expected to grow at a CAGR of 14.4%, during the forecast period 2023 - 2033.

What are the driving factors impacting the global smart life sciences manufacturing market?

Smart life sciences manufacturing market is being driven by the growing adoption of Pharma 4.0. Additionally, rising application of advanced technologies in cancer research is expected to provide growth opportunities for the smart life sciences manufacturing market.

What are the future trends for smart life sciences manufacturing market?

The connection of data silos is increasing, which is likely to result in better access to insights and data leads. Additionally, there is an increasing usage of blockchain, coupled with roadmaps been created for Pharma 5.0.

Which are the key players holding the major market share of smart life sciences manufacturing market?

The key players, holding majority shares, in smart life sciences manufacturing market includes ABB Ltd, Emerson Electric Co, General Electric Co, Honeywell International Inc, and Rockwell Automation.

Which is the fastest growing regional market?

Asia Pacific is the fastest growing regional market, followed by Europe.

Which countries are registering a high growth rate during the forecast period?

India, China, and Germany are expected to register high growth rates during the forecast period.

Which country is holding the major market share of smart life sciences manufacturing market?

The US held the largest market share in 2022, followed by China.

Which is the leading offering segment in the smart life sciences manufacturing market?

The solutions segment led the smart life sciences manufacturing market with a significant share in 2022.

What will be the global market size for smart life sciences manufacturing market by 2033?

The smart life sciences manufacturing market is expected to reach US$ 78.974.61 million by 2033.

What is the incremental growth of the smart life sciences manufacturing market during the forecast period?

The incremental growth, expected to be recorded for the smart life sciences manufacturing market during the forecast period, is US$ 58,475.08 million.

The List of Companies - Smart Life Sciences Market 

  1. ABB Ltd
  2. Bosch Rexroth AG
  3. Emerson Electric Co
  4. Fortinet Inc
  5. General Electric Co
  6. Honeywell International Inc
  7. IBM Corporation
  8. Rockwell Automation
  9. Siemens AG
  10. Sophos Group plc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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