Workforce issues are the biggest challenges facing life sciences manufacturers in 2024, ahead of inflation and economic growth, according to a study published by Rockwell Automation. The study has also found that 96% of life sciences manufacturers are using or evaluating smart manufacturing technologies in 2024.

The study, the ninth annual “State of Smart Manufacturing Report: Life Sciences Edition”, comprises responses from 111 life sciences manufacturers across fifteen manufacturing countries.

According to the study’s findings, technology investments have increased on average to 31% of companies’ operating budget, with generative design is listed as the top investment area in 2024, followed by generative or causal AI. Balancing quality and profitable growth is the top internal obstacle facing life sciences manufacturers in 2024, the report finds, while rising cost of labour and finding skilled workers is the top workforce-related obstacle.

“The life sciences industry is at a pivotal juncture, navigating through rapid technological advancements, evolving workforce dynamics and shifting global demands,” said Gagan Naeger, vice president, global industry – life sciences, at Rockwell Automation. “As life sciences manufacturers continue to feel immense pressures to bring products to market faster, this year’s report reveals the importance of balancing technological innovation with workforce development to drive positive business outcomes.”

According to the study, life sciences manufacturers are prioritising strategies to retain, upskill, and engage their workforce. Technologies, such as automation and smart manufacturing solutions, that complement and enhance the value brought by their workers are key to not only overcoming current obstacles but also fostering growth and innovation in an increasingly complex landscape.