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Manufacturing Industry > Pharma & Life Sciences
Pharma & Life Sciences
IoT and Embedded Technologies: The Future of Connectivity and Automation
Pharmaceuticals and life sciences are critical to global health, and the sector’s growth trajectory is being driven by innovations in biotechnology, personalized medicine, and advancements in drug delivery systems. In 2023, the global pharmaceutical market was valued at $1.5 trillion, with IQVIA projecting this to grow to $2.2 trillion by 2030. The rise of biologics, gene therapies, and precision medicine are creating new revenue streams and transforming the way diseases are treated.
The COVID-19 pandemic accelerated the adoption of digital health technologies and remote monitoring, which is expected to continue post-pandemic. Moreover, the increasing prevalence of chronic diseases and a rapidly aging population worldwide is creating a steady demand for pharmaceutical and life science innovations.
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