Published Date : Jun 07, 2016
Albany, NY, June 07, 2016: MarketResearchReports.biz has announced the addition of a new research report to its online market intelligence repository. The report studies the industrial automation scenario in the life sciences industry and presents actionable forecasts and insights for market players to utilize while formulating strategies. The report is titled ‘Global Industrial Automation In Life Sciences Industry 2016-2020’ and is available for sale on the official website of MarketResearchReports.biz.
The life sciences industry serves an important purpose in today’s world and is thus being supported by several governments worldwide. However, the industry is plagued by persistent problems such as patent expiry, the need to reduce the time to market, rising R&D costs, and the growing number and stringency of regulations. Among the many solutions being utilized to solve these problems, industrial automation has emerged as a promising option.
According to the report, the global market for industrial automation in the life sciences industry is expected to exhibit a steady 5.69% CAGR from 2016 to 2020.
Industrial automation can be applied to the entire lifecycle of life sciences products to reduce their time to market. Major solutions being used by life sciences players to advance automation are SCADA (supervisory control and data acquisition), DCS (distributed control system), MES (manufacturing execution system), and PLC (programmable logic controller).
The primary driver for the industrial automation in the life sciences industry is the decreased risk of falling short of the regulated parameters in any part of the product lifecycle. Automation of life science industry procedures takes away the risk of human errors, eliminating a significant threat for the life sciences industry.
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On the other hand, industrial automation brings with it the need to digitize industry data, which leaves the life sciences industry at risk from cyber-crime. As a result, enhancing the cybersecurity of the life sciences industry through product innovation has become an important avenue to pursue in the coming years. The increasingly popular method of cloud storage and cloud computing is also starting to take hold in the life sciences industry and is set to remain a conspicuous feature of the industrial automation market in the life sciences industry in the coming years.
The report also looks into the regional dynamics of the global industrial automation market in the life sciences industry. Data regarding the performance of the market in the Americas, Asia Pacific, and Europe, the Middle East, and Africa (EMEA) is given in the report to allow market players and investors to compare the opportunities and risks prevalent in each region.
The report also elaborates on the competitive landscape of the global industrial automation market in the life sciences industry. This will allow players and investors to figure out the best investment opportunities and the best collaboration opportunities, as well as the greatest threats. Key players studied in the report include Siemens, Rockwell Automation, Emerson Electric, and ABB.
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