At 12.1% CAGR, the Middle East & Africa Smart Life Sciences Manufacturing Market is projected to be worth US$ 5,202.85 million by 2033, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa smart life sciences manufacturing market was valued at US$ 1,653.90 million in 2023 and is expected to reach US$ 5,202.85 million by 2033, registering a CAGR of 12.1% from 2023 to 2033. Rising adoption of Pharma 4.0 and increasing use of technologies in biotechnology laboratories are the critical factors attributed to the Middle East & Africa smart life sciences manufacturing market.

A data silo is a storehouse of data that is separated from the rest of the organization and these repositories are mostly controlled by one department. Different reasons can drive the formation of data silos; a few of these include improper management, time-consuming stuff, inferior infrastructure, inter-department competition, and variable data sources. The concerned departments may make a data silo to protect patient’s health information, in accordance with government regulations surrounding data privacy and security. The present volume of medical data is too big, and it is growing at a faster rate than before. Traditional software techniques are not sufficient to process these data. However, companies that have big data or machine learning tools may benefit from such huge volumes of medical data. Further, big data analytics can process both structured and unstructured data to convert it into meaningful information.

The connection of data silos is increasing, which is likely to result in better access to insights and data leads, eventually supporting creative research. Large data allows more efficient data research and accelerates the innovation process. Technologies such as blockchain and AI will help to break the isolated data silos. Blockchain technology can provide a visible and secure way to exchange data within and among research organizations and pharmaceutical companies. AI collects and analyzes vast volumes of data obtained from different sources in different formats, filtering relevant insights from noise and providing an understanding of the context. Blockchain technology is an advanced database model that can be employed to trace the origin of pharmaceuticals, procurement of raw materials, and transportation of drugs. The technology helps lower costs and improve the safety of data storage. In smart manufacturing, blockchain technology is vital in storing data related to stakeholders in a block form. The data related to manufacturers, packaging plants, and distribution centers are securely stored at the end destination with the help of blockchain technology.

On the contrary, presence of skill gap and need for high initial investment hampers the Middle East & Africa smart life sciences manufacturing market.  

Based on component, the Middle East & Africa smart life sciences manufacturing market is bifurcated into solutions and services. The solutions segment held 69.3% share of Middle East & Africa Smart Life Sciences Manufacturing Market in 2023, amassing US$ 1,146.07 million. It is projected to garner US$ 3,491.78 million by 2033 to expand at 11.8% CAGR during 2023–2030.

Based on technology, the Middle East & Africa smart life sciences manufacturing market is segmented into AR/VR Systems, Internet of Things (IoT), Artificial Intelligence (AI), Cybersecurity, Big Data, and others. The Internet of Things (IoT) segment held 59.5% share of Middle East & Africa smart life sciences manufacturing market in 2023, amassing US$ 983.34 million. It is projected to garner US$ 2,870.33 million by 2033 to expand at 11.3% CAGR during 2023–2033.

Based on type, the Middle East & Africa smart life sciences manufacturing market is bifurcated into IT Cybersecurity, and OT Cybersecurity. The IT Cybersecurity segment held 50.2% share of Middle East & Africa smart life sciences manufacturing market in 2023, amassing US$ 186.92 million. It is projected to garner US$ 524.81 million by 2033 to expand at 10.9% CAGR during 2023–2033.

Based on application, the Middle East & Africa smart life sciences manufacturing market is segmented into pharma, bio-pharma, and medical device. The pharma segment held 52.9% share of Middle East & Africa smart life sciences manufacturing market in 2023, amassing US$ 875.19 million. It is projected to garner US$ 2,620.97 million by 2033 to expand at 11.6% CAGR during 2023–2033.

Based on country, the Middle East & Africa smart life sciences manufacturing market has been categorized into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 30.2% share of Middle East & Africa Smart Life Sciences Manufacturing Market in 2023. It was assessed at US$ 499.97 million in 2023 and is likely to hit US$ 1,708.09 million by 2030, exhibiting a CAGR of 13.1% during 2023-2033.      

Key players operating in the Middle East & Africa smart life sciences manufacturing market are ABB Ltd, Emerson Electric Co, Fortinet Inc, General Electric Co, Honeywell International Inc, International Business Machines Corp, Rockwell Automation Inc, Siemens AG, and Sophos Ltd, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com