Global Digital Biomanufacturing Market
Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Digital Biomanufacturing Market - A Global and Regional Analysis: Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global digital biomanufacturing market report highlights that the market was valued at $15,768.9 million in 2021 and is expected to reach $55,564.9 million by the end of 2031.
Market Report Coverage - Digital Biomanufacturing
By Technology Type - Process Analytical Technologies, Data Analytics Software, AI and IoMT Solutions, Predictive Analytics and Digital Twin Technologies and Others
By End-User - Biopharmaceutical Companies and Academic and Research Institutes
By Application - Bioprocess Optimization and Process Analytics, Biomanufacturing Process Automation and Control and Flexible Manufacturing
By Region - North America, Europe, Asia-Pacific and Rest-of-the-World
Market Growth Drivers
Rising Automation Process in Various Industries
Rising Focus on Process Efficiency and Flexibility in Manufacturing
Shift Toward Digitalization and Biomanufacturing in the Healthcare Industry
Lack of Technology Adoption and Awareness Leading to Low Return-of-Investments
Lack of Data Security in Biomanufacturing Settings
Increased Demand for Biologics
Digital Biomanufacturing Market Industry Overview
The global digital biomanufacturing market is a huge market comprised of various software and platforms that include process analytical technologies, data analytics software, ai and IoMT solutions, predictive analytics and digital twin technologies, and others. If application is involved, we have bioprocess optimization and process analytics, biomanufacturing process automation and control, and flexible manufacturing.
The global digital biomanufacturing market report highlights that the market was valued at $15,768.9 million in 2021 and is expected to reach $55,564.9 million by the end of 2031. The market is expected to grow at a CAGR of 13.12% during the forecast period from 2022 to 2031.
Global Digital Biomanufacturing Market Drivers
Smart factories have the potential to improve sustainability by allowing for real-time production monitoring, with automated control systems reducing the number of failed batches and lowering maintenance costs. Thus, biomanufacturing businesses' ability to autonomously and appropriately control bioprocesses in their optimal condition is critical, as this aids in lowering or maintaining production costs and increasing yields while maintaining product quality uniformity. This will help driving the market.
In today's bio-manufacturing firms, digitalization in the form of Big Data and Digital Twin-inspired applications are hot themes. As a result, many companies are allocating staff and equipment to these applications. In order to evaluate the existing situation and projected future difficulties in integrating digitalization principles in biotech production processes, a targeted survey was performed among individuals from the Danish biotech industry.
Global Digital Biomanufacturing Market Challenges
The factors restraining the market growth of digital biomanufacturing market include the lack of technology adoption and awareness leading to low return on investment. ROI calculations allow a business to establish and use measures for project appraisal that can be used consistently across a portfolio and go beyond simple profitability analyses.
Multiple stakeholders, including industry, governments, and healthcare providers, must pay attention to cybersecurity in order to provide safe and effective biopharmaceuticals. Breach of cyberbio security could have a direct impact on patients, ranging from compromising data privacy to production disruptions jeopardizing worldwide pandemic response. In today's economy, when advanced manufacturing technology and digital strategies are becoming the standard, maintaining cybersecurity is a key concern.
Global Digital Biomanufacturing Market Opportunities
The opportunity for growth of the global Digital Biomanufacturing market lies in the opportunity to the increased demand for biologics. It is desirable to develop an alternative manufacturing technique that relies less on human labour and transitioning steps between unit activities require a smaller facility footprint and is more open to scalability, automation, and adaption across diverse drug modalities.
Impact of COVID-19 on the Global Digital Biomanufacturing Market
The COVID-19 pandemic had thrusted the global Digital Biomanufacturing market. The impact of the pandemic global Digital Biomanufacturing market has brought in a positive impact to the market. One of the major impacts of COVID-19 on the global digital biomanufacturing was understanding the importance of automation and innovation of new technologies.
Global Digital Biomanufacturing Market (by Technology)
The global Digital Biomanufacturing market has been segmented based on the technology type into eight different segments, namely, process analytical technologies, data analytics software, AI and IoMT solutions, predictive analytics and digital twin technologies, and others.
Key Topics Covered:
1.1 Market Outlook
1.2 Industry Outlook
1.2.3 Patent Analysis
1.3 Impact of COVID-19
1.4 Business Dynamics
2 Global Digital Biomanufacturing Market by Application
2.1 Opportunity Assessment
2.2 Growth-Share Matrix
2.3 Biomanufacturing Process Automation and Control
2.4 Bioprocess Optimization and Process Analytics
2.5 Flexible Manufacturing
3 Global Digital Biomanufacturing Market by End User
3.1 Opportunity Assessment
3.2 Growth-Share Matrix
3.3 Biopharmaceutical Companies
3.4 Academic and Research Institutes
4 Global Digital Biomanufacturing Market by Technology
4.1 Opportunity Assessment
4.2 Growth-Share Matrix
4.3 AI and IoMT Solutions
4.4 Process Analytical Technologies
4.5 Data Analytics Software
4.6 Predictive Analytics and Digital Twin Technologies
Agilent Technologies Inc.
Donaldson Company, Inc.
Emerson Electric Co.
General Electric Company
Honeywell International Inc.
Siemens Healthineers AG
Exponential Genomics, Inc.
Symphony Innovation, LLC
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