Overview and Scope
Physical engineering is concerned with translating fundamental discoveries and research findings from the natural sciences, particularly physics and chemistry, into technological innovations. The life sciences are the branches of science concerned with the scientific study of living organisms and help to improve the quality and standard of life.
Sizing and Forecast
The physical, engineering, and life sciences market size has grown strongly in recent years. It will grow from $443.56 billion in 2023 to $472.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to medical discoveries and health improvement, mathematical and theoretical development, environmental awareness, space exploration and discovery, public health initiatives.
The physical, engineering, and life sciences market size is expected to see strong growth in the next few years. It will grow to $624.02 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to ai and machine learning integration, sustainable engineering and solutions, digital health and telemedicine, smart infrastructure and cities, personalized engineering solutions. Major trends in the forecast period include nanotechnology integration, bioinformatics and data analysis, sustainability and environmental impact, immunotherapy and biopharmaceuticals, industry 4.0 and automation.
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Segmentation & Regional Insights
The physical, engineering, and life sciences market covered in this report is segmented –
1) By Type: Physical And Engineering Sciences, Life Sciences Services
2) By Entities: Organizations, Sole Traders, Partnerships
3) By Service Provider: Large Enterprise, Small and Medium Enterprise
North America was the largest region in the physical, engineering, and life sciences market in 2023. Western Europe was the second largest region in the physical, engineering, and life sciences market. The regions covered in the physical, engineering, and life sciences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
A major transformation is in progress in the life science industry. Much of it is driven by digital transformation, which has a powerful re-imagination of the life science industry. Technology firms such as Microsoft, Cisco., IBM, Amazon, and Google serve as the driving forces and initiators of the digital life sciences transformation. Mobile computing is poised to support the digitization of health in combination with drug therapy as well as through stand-alone therapies. Digital transformation can help people more effectively make decisions on how to run their existing businesses and position the organization for the future. This rise in digital transformation drives the growth of the physical, engineering, and life sciences market.
Key Industry Players
Major companies operating in the physical, engineering, and life sciences market include IQVIA Holdings Inc, Battelle Memorial Institute, Syneos Health Holdings Inc, PRA Health Sciences Inc, Charles River Laboratories International Inc, PAREXEL International Corporation, Pharmaceutical Product Development LLC, Medpace Holdings Inc, Albany Molecular Research Inc, Hitachi High Technologies America Inc, PDL BioPharma Inc, Defense Advanced Research Projects Agency (DARPA), Lawrence Livermore National Security LLC (LLNS), Los Alamos National Security LLC (LANS), AKKA Technologies SE, QinetiQ Group plc, WuXi AppTec Co. Ltd., Charles River Laboratories International Inc., Thermo Fisher Scientific Inc., Illumina Inc., Agilent Technologies Inc., Bruker Corporation, Waters Corporation, PerkinElmer Inc., Mettler-Toledo International Inc., Danaher Corporation, Bio-Rad Laboratories Inc., Bio-Techne Corporation, QIAGEN N.V., Merck KGaA, Abiomed Inc., Intuitive Surgical Inc.
The physical, engineering, and life sciences market report table of contents includes:
- Executive Summary
- Physical, Engineering, And Life Sciences Market Characteristics
- Physical, Engineering, And Life Sciences Market Trends And Strategies
- Physical, Engineering, And Life Sciences Market – Macro Economic Scenario
- Global Physical, Engineering, And Life Sciences Market Size and Growth
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- Global Physical, Engineering, And Life Sciences Market Competitive Benchmarking
- Global Physical, Engineering, And Life Sciences Market Competitive Dashboard
- Key Mergers And Acquisitions In The Physical, Engineering, And Life Sciences Market
- Physical, Engineering, And Life Sciences Market Future Outlook and Potential Analysis
- Appendix
Top Major Players:
- IQVIA Holdings Inc.
- Syneos Health Holdings Inc.
- PRA Health Sciences Inc
- Charles River Laboratories International Inc
- PAREXEL International Corporation
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