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, $Million, 2020, 2021, and 2031
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 global pandemic 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.
Digital Biomanufacturing Market Segmentation
Market Segmentation | • 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 | ||
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.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Atos SE, 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., FabricNano, OVO Biomanufacturing, and Symphony Innovation, LLC
In the past few years, the global digital biomanufacturing market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are funding activities, mergers and acquisitions (MA), partnerships, alliances, business expansions, regulatory and legal activities, and new offerings. The preferred strategy for companies has been new offerings of products followed by partnerships, alliances, and business expansions.
Key Questions Answered in the Global Digital Biomanufacturing Market Report
• How has COVID-19 impacted the growth of the global digital biomanufacturing market?
• What are the key regulations governing the digital biomanufacturing market in key regions?
• What technological developments are projected to have the maximum influence on the global digital biomanufacturing market?
• Who are the leading players holding significant dominance in the global digital biomanufacturing market?
• What are some of the growth opportunities which market players can capitalize on?
• What are the drivers and restraints for the global digital biomanufacturing market?
• Which region has the highest growth rate in the digital biomanufacturing market?
• Which are the fastest growing countries in terms of the global digital biomanufacturing market?
• What are the key strategies being adopted by market players in the global digital biomanufacturing market?
• Which are the emerging technologies in the global digital biomanufacturing market?
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