BIOMEDICAL
Innovation in Medical Technology to Drive Growth
Supportive government (and its allied agencies) policies related to synthetic biology is a major growth impacting driver in this sector. Developed economies such as the U.K. and the U.S. are critically monitoring and funding synthetic biology R&D initiatives.
Source: Grand View Research Inc.
The global biotechnology market size is expected to reach USD 727.1 billion by 2025, at a CAGR of 7.4% according to a new report by Grand View Research, Inc. The emergence of certain key themes in the market is expected to drive growth in this industry to a lucrative extent.
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Technological advancements pertaining to the penetration of artificial intelligence in this industry is expected to fuel progress with potential avenues.
Source: Grand View Research Inc.
Real-Time Analysis and Process Control Systems
Real-time Data Capturing and Analysis
Improvement in Reporting and Operational Efficiency
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Integration with mobile devices to improve on-site maintenance
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Analytical toolsets and Real-time alerts to improve data utilization
Data-driven Production Traceability
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Traceability
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Quality
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