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Automation in Biopharma Industry market is projected to grow at a CAGR of 7% by 2034: Visiongain
Visiongain has published a new report entitled Automation in Biopharma Industry Market Report 2024-2034: Forecasts by Technology (Automation Technology, Digitisation Technology), by Automation Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), Manufacturing Execution System (MES), Human-machine Interface (HMI), Advanced Process Control (APC), Enterprise Resource Planning (ERP), Laboratory Information Management System (LIMS), Customer Relationship Management (CRM), Corrective and Preventive Actions (CAPA), Other), by Digitisation Technology (Internet of Things (IoT), Artificial Intelligence (AI), Digital Twin Technology, Augmented Reality (AR) and Virtual Reality (VR), Predictive Analytics, Cloud Computing), by Application (Clinical Phase, Drug Discovery Phase, Production Phase), by Component (Automation Hardware, Automation Software, Services Project Phase, Services Operation Phase) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The automation in biopharma industry market is estimated at US$1,954.3 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period 2024-2034.
Faster Hypothesis Testing Cycles Anticipated to Fuel Automation in Biopharma Industry Market Growth
Automating PV testing cycles is a fantastic way to produce hypotheses more quickly. The American Society for Clinical Pharmacology and Therapeutics (ASCPT) is investigating the viability of utilising state-of-the-art technologies such as robotic process automation (RPA) and artificial intelligence (AI) to automate the processing of adverse event reports. Pfizer faced forth against three private vendors' proposed solutions at the same time during this trial research. The findings demonstrated that automotive technology, made possible by artificial intelligence, accelerates the extraction of negative occurrences from source documents.
More technological developments in this area, such as the application of Big Data Analytics, Natural Language Processing (NLP) technology, and data extracted from social media, would enable the full shift from labour-intensive manual methods of source document annotation to total reliance on data fields of safety databases. Process automation provides the benefit of being able to differentiate across vendor solutions and determine which vendor is most suited for the discovery phase analysis of a testing cycle, according to pharmacovigilance experts. To ascertain the long-term advantages of this change, research is still necessary.
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How has COVID-19 had a Significant Impact on the Automation in Biopharma Industry Market?
Pharmacovigilance specialists assert that the advantage of process automation is the ability to distinguish between vendor solutions and identify the vendor most suited for the testing cycle's discovery phase analysis. Research is still required to determine this change's long-term benefits.
The pandemic has also made it clear how important remote automation system monitoring and control is. As more employees work from home, businesses are relying more and more on remote automation system administration and monitoring to ensure that output keeps up. As a result, the biopharmaceutical industry now has more advanced remote monitoring and control systems for automation.
In the biopharmaceutical industry, the COVID-19 pandemic has significantly impacted the market for automation, driving up demand for more advanced automation systems and technologies that can increase industry productivity and efficiency.
How will this Report Benefit you?
Visiongain’s 364-page report provides 138 tables, 226 charts/graphs. Anyone in need of comprehensive, commercial assessments for the Automation in Biopharma Industry Market and in-depth market segment analysis may consider our latest study. You may assess the total regional and global market for automation in the biopharmaceutical industry with the aid of our most recent report. Achieve a larger market share by obtaining financial analyses of the market as a whole and its various segments, such as technology, automation technology, digitization technology, application, and component. We think that the rapidly expanding automation market in the biopharmaceutical industry offers a lot of promising prospects. Examine how you may take advantage of the current and potential chances in this sector to increase your revenue soon. Additionally, by framing growth strategies, supporting the analysis of other market competitors, and optimizing corporate productivity, the report will help you make better strategic decisions.
What are the Current Market Drivers?
Technological Advancements to Improve Product Safety
Novel drug formulations and delivery techniques may provide pharmaceutical makers cause for concern regarding safety. For instance, the DTC channel "handles packages far more frequently than those transported through typical bulk channels, resulting in rougher handling overall and a higher risk of product damage or packaging." Since injectables have gotten more and more popular, sterility has become even more crucial due to the nature of these medications and how they are provided by injection. Product safety can be enhanced by automated solutions, particularly those backed by artificial intelligence, for both of these types of problems.
Increased Adoption of Electronic Batch Records is Driving the Market
Packs of paper are produced by manufacturers utilizing batch records. Every record must then be manually reviewed three times for mistakes. This means that, for example, a three-week production process can be planned to coincide with a lengthy, month-long paper-checking period. The drug would be kept in storage during that time, collecting dust and accruing storage and demurrage expenses. The bulk release procedure can be shortened by months thanks to EBR's automation and capacity to identify merely exceptions. High levels of control, transparency, and traceability that are required by the industry are provided by an EBR solution integrated with corporate information systems, which enhances compliance. The EBR also generates an abundance of readily accessible data that can be used for future research.
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Where are the Market Opportunities?
Working Smarter Using Digital Labour
The robotic workforce can complete more and more mundane administrative jobs, requiring less human discretion. Considering the variety of clinical and sales call reporting techniques available, the sheer amount of these actions within the biopharmaceutical business is astounding. When these processes are automated, the biopharma value chain as a whole will collaborate more, increasing productivity and cutting expenses. Workers will have more time to concentrate on more important duties, including enhancing client interactions, if repetitive chores are automated. Robotic process automation, or RPA, not only modifies the efficiency equation but also improves the customer experience directly. Businesses may better prepare for the future and lay the groundwork for an artificially intelligent, more autonomous firm with the aid of this cutting-edge technology.
Rapidly Evolving Robots Projected to Offer Lucrative Growth Prospects
Robotics is growing more and more important, according to operations, but only when it's used to improve the efficiency, quality, and speed of processes. Rapidly evolving robots are beginning to have a rightful position in the war. According to a survey published by the Association for Advancing Automation (A3), a trade association for robotics, companies ordered 7,697 robots for a total of $457 million between April and July 2023. The second-strongest demand was seen in the life sciences and pharmaceutical sectors in the second quarter. These days, the majority of robots utilised in the pharmaceutical sector are limited to packing, kit assembling, dispensing, sorting, and light machine tending. Robots have a strong business case when new foil rolls, cartons, and leaflets are introduced, among other bulk material alterations. With some production lines, the cost-justification for investing in sophisticated robotic technology may be much greater based on product volumes, the frequency of varying tasks, and the weight and volume of the objects themselves.
Competitive Landscape
The leading companies in the Automation in Biopharma Industry market are ABB, Acieta, ADLINK Technology Inc., AMETEK, Inc., Baumüller, Emerson Electric Co., Revvity Inc., RheoSense Inc., Rockwell Automation, Sartorius AG, Siemens Healthineers AG, TetraScience, Inc., Thermo Fisher Scientific Inc. The major rivals in this industry have used a range of tactics, such as partnerships, collaborations, R&D investments, mergers and acquisitions, regional firm expansion, and new product introductions.
Recent Developments
On 16th February 2024, ABB inked an agreement to acquire SEAM Group. SEAM Group is a major provider of advice services and energized asset management to clients in the commercial and industrial building markets.
On 12th February 2024, Revvity Inc. unveiled Signals Clinical, a software-as-a-service (SaaS) end-to-end clinical data science platform, with the goal of combining all clinical trial data and quickly delivering relevant information for quicker decision-making in clinical trials and therapeutic market delivery.
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