Life Sciences Industry: Improving the Quality of Life

Posted by Dev Sharma on August 29th, 2022

The life sciences industry is constantly changing and evolving. Every day, there are new breakthroughs and advancements happening in the world. No matter what area you are looking at—technology, science, culture, or arts—there are always new things to discover and look forward to. This industry is dedicated to improving and ensuring the safety of human and animal life. New discoveries and breakthroughs are constantly being made in this field. So, before diving deep into the latest findings, let us first understand the life sciences.

The life sciences industry is made up of companies that create products to improve the lives of organisms. These products include biotechnology, pharmaceuticals, medical devices, cosmeceuticals, biomedical technologies, nutraceuticals, and food processing. We are going to focus on the health and medical science aspects. This includes pharmaceuticals, biotechnology, medical devices, digital health, and other businesses that support these industry giants. These supporting businesses are known as CROs or CMOs and they are responsible for developing, producing, and commercializing innovative treatments and tools. Their ultimate goal is to improve and prolong lives.

Pharmaceuticals - Pharmaceutical companies are an important part of society, and their work benefits us all. They research and develop new medicines to treat or prevent diseases, and then distribute them to the public. Pharmaceutical companies can produce brand-name or generic medications, or medical devices.

The industry is booming, and 2020 was a great year for growth. The top companies in the world, including Pfizer, Roche, Merck, Johnson & Johnson, and Novartis, all contributed to the industry’s success with innovative new product launches.

Biotechnology - Biotech companies are different from pharmaceutical companies because they use living organisms to create products or solve problems. Because of this, biotech firms tend to have a wider range of commercial products, with many of them having medical applications.

Gilead Sciences, Celgene, Novo Nordisk, CSL, and Allergan are currently the front runners in the global biotech market. They were valued at 9bn in 2019 and this number is expected to jump to 7.1bn by 2025. These companies are constantly striving to meet unmet medical needs around the world. Many more innovative and ambitious companies are close behind them, each with their own unique way of approaching this field and making a difference.

CRO/CMO - Contract research organizations (CROs) and contract manufacturing organizations (CMOs) provide an essential service to the biotech, pharma, and medical devices industries. CROs and CMOs help clients test, refine, and market their drugs and medical devices. This support is essential to the success of these industries.

As the contract research organization marketplace continues to grow, so does the level of competition between companies. Mergers and acquisitions among leading CROs such as Parexel, IQVIA, and Covance are becoming more commonplace as these companies strive to maintain their competitive edge and extend their global reach. The CRO industry is currently valued at approximately .1 billion and is expected to rise to .7 billion by 2025.

Medical Devices - It is crucial to have access to quality, affordable, and appropriate health products in order to improve global health coverage, address health emergencies, and promote healthier populations. By sourcing these products responsibly and making them available to those who need them most, we can help create a healthier world for everyone.

Health technologies like medical devices are used in all sorts of settings—from people’s homes to remote clinics, from opticians and dentists to healthcare professionals in advanced medical facilities. They can be used for everything from diagnosis and treatment to prevention and screening, and from assisting disabled people to intervening and treating acute and chronic illnesses.

Medical device manufacturers produce items that are used in a variety of medical settings. In some cases, medical devices need to be produced in large quantities; in other cases, a higher level of precision is necessary for production. Medical device companies develop medical tools to help with various medical conditions. The devices that they create can take on many forms, such as an instrument, machines, implants, software, and more. The purpose of these devices is to make the lives of those who have to use them easier and help with their condition.

While Google and Apple receive a lot of credit for their contributions to healthcare, other companies have also been working hard to develop new tools for patients and providers. So far, these two companies have had the biggest impact in this area, but it is important to remember that they are not the only ones doing good work in healthcare.

The global medical devices market was valued at 6.9bn in 2019. The release of new technologies has been a major driving force behind the industry’s expansion and top companies such as Abbott, Medtronic, Johnson & Johnson, GE Healthcare, and Thermo Fisher Scientific have been big contributors to this growth.

Titan Engineering & Automation Limited (TEAL) is also such an industry. At Titan Engineering & Automation Limited, we understand that medical devices, medical diagnostics, and pharmaceutical companies need reliable and efficient automation solutions. That is why we offer both standard and custom solutions for production, packaging, research and development, commercial production, and after-sales services. We only work with businesses that we know will be a good fit for our services, so you can be confident that you are getting the best possible solution for your needs.

With our experience in the medical device industry, we have an edge over the competition. We collaborate with medical device and equipment manufacturers to create innovative solutions and assist with regulatory compliance.

At Titan Engineering & Automation Limited (TEAL), we understand that our customers rely on us. We are proud to be associated with the medical and healthcare sector, which is making progress and benefitting humankind. We take satisfaction in knowing that our work contributes to this essential industry and that we are truly making a difference in people’s lives.

We provide solutions for assembly and testing for a variety of applications like:

• Inhaler
• IV Cannula
• Insulin Pen
• Blood bag
• Needle
• Safety Mask

We have a team of people who can help you find the best solution for your needs. We have extensive knowledge in the medical device industry and responsive engineering support to provide control and assembly solutions that enable you to get your product to market faster.

Titan Engineering & Automation Limited’s solutions are designed to improve productivity and quality, while also increasing visibility and traceability. Our robust, fully integrated solutions are specifically tailored for medical device manufacturers and offer superior power and ease of use. With our flexible and agile solutions, you can meet your unique application needs.

The life sciences industry has always been a leader in research, investments, and the development of new therapies and applications. The current pandemic has only emphasized this, as the sector has been working tirelessly to find new treatments and accelerate the clearance rate and delivery of existing treatments. Even in the face of such a global crisis, the life sciences industry remains committed to its goal of improving the quality of life for people all over the world.

Titan Engineering & Automation Limited (TEAL) is the best in the business when it comes to medical device assembly and testing. We are always looking for ways to provide better support for you and your devices. Contact us today to see how we can help you out.