Machine Automation Solutions Impact on Ohio’s Life Sciences Industry
The Ohio Life Sciences Foundation, “a 501(c)(3) non-profit organization focused on delivering research and funding that will accelerate and promote a robust life sciences industry in Ohio”, recently released its annual Ohio Life Sciences report. In it, we can deduce the impact machine automation solutions have on the state of Ohio.
In this article, we’ve broken down key takeaways from the report. Let’s dive in and discover how automation helps Ohioans.
Life Sciences and the Medical Industry
Machine automation solutions help improve the efficiency, accuracy and productivity of various processes.
In the medical industry, automation has streamlined drug discovery, development and manufacturing processes. Automated machines can perform repetitive tasks, such as mixing and dispensing of ingredients, with greater precision and consistency. This reduces the likelihood of errors and ensures the uniformity of product quality.
Automation can also facilitate faster drug development, allowing companies to bring new treatments to market in a more timely and cost-effective manner.
Healthcare
In the healthcare sector, automation solutions can be used to improve patient outcomes and safety by automating medication dispensing, dosage calculation and patient monitoring. Robotic systems can assist surgeons in performing complex surgeries with greater precision, minimizing the risk of errors and reducing recovery times.
“Digital Health, often referred to as Health IT, continues to generate significant investment and job growth in Ohio as companies expand the capabilities of the life sciences industry, reduce healthcare costs and improve patient outcomes.”
“…over $2 billion worth of private investment has been directed into Ohio’s digital health companies. When known acquisitions are taken into account, that number climbs to over $5 billion.”
Machine Automation Solutions – Ohio Creates Business
Ohio has earned a position in the top five states with the most favorable business climates, holding a remarkable standing in the number of new corporate facility projects. The state has secured a spot in the top three in terms of both total quantity and per capita measurements.
Ohio’s credit rating is exceptional, and it boasts a tax environment that is highly pro-business. Ohio is ramping up its exports to bolster economic development. It helps that it is situated within 600 miles of over 50 percent of the combined populations of the United States and Canada.
And the best part? Ohio is a one-day drive away from over 60 percent of North America’s manufacturing capacity.
Ohioans Making an Impact
Beyond the impact of machine automation, “Ohioans are fighting COVID-19, curing debilitating pediatric diseases, creating less invasive surgical tools, formulating cleaner biofuels, programming highly accurate diagnostic imaging techniques, improving the quality and yield of crops, streamlining healthcare provider processes to reduce patient costs and personalizing medication delivery for individual patients.”
Machine automation helps to facilitate the creation of jobs in the life sciences industry. “Ohio’s life sciences industry generated $7.1 billion in payroll in 2019, a 21% ($1.2B) increase in the last five years. Life sciences sector jobs in Ohio paid an average wage of $84,600, encompassing a wide variety of occupations. In comparison, the average wage for all industries in Ohio in 2019 was $50,502.”
Life science companies can be found in 83 of the 88 Ohio counties, employing nearly 83,700 people with 7,350 new jobs projected as well as $2 billion in planned investments occurring from 2020 to the present day.
How Automation Can Help You
Automated Machine Systems prides itself on being up to date with the latest and greatest in technology so we can provide the best machines and services to our clients. We can answer your questions and help you navigate the latest manufacturing trends to keep your company competitive. Book a meeting with us to discuss your project goals.
