LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial automation market in life sciences industry since 2016 and the market is poised to grow by USD 1.92 billion during 2020-2024, progressing at a CAGR of more than 6% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “Industrial Automation Market in Life Sciences Industry Analysis Report by Product (DCS, SCADA, PLC, and MES), Geography (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024”.
The market is driven by the improvement in quality of products and services in the life sciences industry. In addition, rapid improvements in sensor technology are anticipated to boost the growth of the industrial automation market in the life sciences industry.
The adoption of automation in life sciences industry eliminates various issues caused by human error and fatigue. It enables organizations to easily detect and rectify any deviations from the patient care plan, thereby improving the quality of products and services delivered to patients. Industrial automation also frees up human resources and allows organizations to focus on core areas that give cognizance to their clinical prowess and expertise. Moreover, it helps organizations in establishing standardized care for patients, which leads to better health outcomes. With the growing focus on improving patient-experience in the life sciences industry, the need for streamlining billings, scheduling appointments, and processing claims is becoming crucial.
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Major Five Industrial Automation Market Companies:
ABB Ltd. operates its business through segments such as Electrification Products, Robotics and Motion, and Industrial Automation. The company offers automation solutions for API production, secondary production, biotechnology, shop floor integration, and modular automation.
Emerson Electric Co.
Emerson Electric Co. operates its business through segments such as Automation Solutions, Climate Technologies, and Tools & Home Products. The company offers automation solutions that enable life sciences companies to improve their data management, real-time product quality, reliability, and operating costs.
Honeywell International Inc.
Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers Experion automation platforms that combine their distributed control, batch automation, and patent pending visualization technology to provide solutions optimized for Pharmaceutical applications.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. operates its business through segments such as Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, and Home Appliances and Others. The company offers robotic solutions for surgical and metaphysical processes, controlling ozone sterilization for medical instruments, and production processes for replacement of body parts such as replacement hip joints.
OMRON Corp. operates its business through segments such as Industrial Automation, Electronic and Mechanical Components, Automotive Electronic Components, Social Systems, Solutions and Service, Healthcare, and Other. The company offers a wide range of automation solutions for the life sciences industry. Some of the key offerings include laboratory automation systems, patient sample tracking, clinical diagnostics, and integrated control and information systems for pharmaceutical manufacturers.
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Industrial Automation Product Outlook (Revenue, USD Billion, 2020 - 2024)
Industrial Automation Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
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Related Reports on Industrials are:
Global Industrial Automation Control Market – Global industrial automation control market by geography (APAC, Europe, MEA, North America, and South America), product (sensors, DCS, Drives, SCADA, and PLC), and end-users (process industry and discrete industry).
Global Industrial Automation Services Market – Global industrial automation services market by geography (APAC, Europe, MEA, North America, and South America), service (PE, M&S, OS, and consulting), and end-users (process industries and discrete industries).
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