The Digital Biomanufacturing Market Size is valued at 19.04 Billion in 2022 and is predicted to reach 57.69 Million by the year 2031 at a 13.2 % CAGR during the forecast period for 2023-2031.
Key Industry Insights & Findings from the Report:
- There is a growing demand for biologics, including vaccines, monoclonal antibodies, and gene therapies. Digital biomanufacturing optimizes production processes to meet this demand more cost-effectively and sustainably.
- These technologies enhance data collection, monitoring, process control, and automation, leading to more efficient and scalable production processes
- North America dominated the market and accounted for a global revenue share in 2023.
The biopharmaceutical industry's tremendous expansion has brought about new opportunities for patient care and difficulties in production. Numerous cutting-edge medical techniques make use of speciality medications that are designed to treat limited patient populations, and this indicates that substantially less drug production occurs. Manufacturers must therefore increase their operational effectiveness to lower total drug development and production costs in order to satisfy the public's need for affordable access to new medications. The Industry 4.0 paradigm will assist in achieving this objective. Using digital technologies in manufacturing processes, such as computer-aided design and computer-assisted machining, is known as "digital biomanufacturing." By enhancing manufacturing cycles, the use of these technologies can assist raise quality and safety requirements while also lowering costs. With robotic automation systems like microfluidic devices, digital biomanufacturing enables increased precision in cell cultures or tissue engineering. It also makes it possible to remotely monitor individual units using embedded sensors that transmit data back to operators via wireless networks, enabling more effective management of inventory levels during manufacturing.
Competitive Landscape
Some of The Key Players in The Digital Biomanufacturing Market:
- Agilent Technologies Inc.
- Danaher Corporation
- Donaldson Company, Inc.
- Emerson Electric Co.
- General Electric Company
- Honeywell International Inc.
- SAP SE
- Siemens Healthineers AG
- Bota Biosciences
- Culture Biosciences
- e-matica srl
- Exponential Genomics, Inc. (Xenomics)
- FabricNano
- OVO Biomanufacturing
- Symphony Innovation, LLC
- Other Prominent Players
Market Segmentation:
The digital biomanufacturing market is segmented on the basis of application, end-user, deployment option and technology. Based on application, the market is segmented as Biomanufacturing Process Automation and Control, Bioprocess Optimization and Process Analytics, and Flexible Manufacturing. By end-user, the market is segmented into Biopharmaceutical Companies and Academic and Research Institutes. As per the Deployment Option, the market is categorized into Cloud-based and On-premises. Technology segments the market into AI and IoMT Solutions, Process Analytical Technologies, Data Analytics Software, Predictive Analytics and Digital Twin Technologies, and Others.
Based on product, the bioprocess optimization and process analytics segment are accounted as a major contributor in the digital biomanufacturing market.
Digital biomanufacturing is utilized in process analytics and bioprocess optimization to track, enhance, and manage bioprocesses. By processing algorithms on a computer to be tuned for the process before being moved to an industrial system where it can run automatically without human involvement, it helps. As a result of these systems' greater accuracy and ability to decrease errors made during manual operation processes, activities become more efficient. These features are driving the bioprocess optimization and process analytics segment in the market.
AI and IoMT solutions segment witness growth at a rapid rate
The Internet of Medical Things (IoMT) was formed as a result of the increase in linked medical devices, improvements in the hardware and software that enable the collection and transfer of medical-grade data, and connectivity technologies and services. The IoMT integrates the physical and digital worlds to enhance diagnostic and treatment speed and accuracy as well as to track and adjust patient behaviour and health status in real-time. Streamlining clinical processes, information, and workflows also raises the operational productivity and effectiveness of healthcare organizations. An increasing geriatric population, with more people living longer but with many comorbidities, is partly responsible for the increase of AI and IoMT solutions.
The North America Digital Biomanufacturing market holds a significant revenue share in the region.
North America has the largest revenue share owing to its sophisticated healthcare system and substantial demand for biologics. North American businesses are increasingly opting to digitize their biologics. Furthermore, industrial organizations are investing a lot in digital technology and related assets to improve production efficiency and lower operating costs. Governments in the area are sponsoring research and development programmes to set up cutting-edge sensor networks, process controls, and data analytics in industrial firms to boost productivity and energy efficiency. Canadian manufacturers are investing in the conversion of physical factories into digital factories. They are largely concentrating on supply chain collaboration, automation and robotics, and intelligent floor sensors. As a result, the Canadian market is anticipated to display an extraordinary CAGR over the forecast period.
Recent Developments:
- In April 2024, SAP SE revealed artificial intelligence (AI) enhancements in its supply chain solutions that will bring about major improvements in productivity, efficiency, and accuracy in the manufacturing industry. Utilizing AI-powered analysis of up-to-the-minute data, firms may leverage their own data to enhance decision-making throughout supply chains, optimize product creation, and enhance industrial efficiency.
The Digital Biomanufacturing Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 19.04 Billion |
|
Revenue Forecast In 2031 |
USD 57.69 Billion |
|
Growth Rate CAGR |
CAGR of 13.2 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion, Volume (Unit), and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Technology, By Application, By End-User, Deployment option |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Agilent Technologies Inc., Danaher Corporation, Donaldson Company, Inc., Emerson Electric Co., General Electric Company, Honeywell International Inc., SAP SE, Siemens Healthineers AG, Bota Biosciences, Culture Biosciences, e-matica srl, Exponential Genomics, Inc. (Xenomics), FabricNano, OVO Biomanufacturing, Symphony Innovation, LLC, Other Prominent Players |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
