New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Biomanufacturing Global Market Report 2023" - https://www.reportlinker.com/p06486608/?utm_source=GNW
, Honeywell International Inc., SAP SE, Immersciobio, BIOMÉRIEUX, Atos SE, Sartorius, and Dassault Systèmes.
The global digital biomanufacturing market is expected to grow from $16.46 billion in 2022 to $18.87 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital biomanufacturing market is expected to reach $30.99 billion in 2027 at a CAGR of 13.2%.
The digital biomanufacturing market consists of revenues earned by entities by providing various technologies that support the manufacturing of biologics such as big data, cloud computing, lean product and process development, sensor technologies, process control, and enterprise control.The market value includes the value of related goods sold by the service provider or included within the service offering.
The digital biomanufacturing market also includes sales of sensors, analyzers, and actuators and process control systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Digital biomanufacturing is the use of digital technologies and advanced analytics in the field of biomanufacturing. It blends data-driven decision-making, automation, and sophisticated manufacturing technology to increase process efficiency and expedite innovation in the biomanufacturing business.
North America was the largest region in the digital biomanufacturing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in digital biomanufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of digital biomanufacturing are manufacturing technologies, analytical and process control technologies, software, and others.Manufacturing technology refers to techniques and processes that aim to improve manufacturing quality, productivity, and practices and these technologies aid in the enhancement of process efficiency, product quality, and scalability in the manufacture of biological products.
Major types of biologic(s) manufactured are antibodies, cell and gene therapies, proteins, vaccines, and others using various technologies such as AI and IoMT solutions, process analytical technologies, data analytics software, predictive analytics and digital twin technologies, and others that are applied in bioprocess optimization, biomanufacturing process automation and control, and others by the different end users such as biopharmaceutical companies, and academic and research institutes.
The growing demand for biologics is expected to propel the growth of the digital biomanufacturing market going forward.Biologicals are a vast class of pharmaceuticals that include vaccines, growth factors, immunological modulators, monoclonal antibodies, and drugs produced from human blood and plasma.
Digital biomanufacturing is used to enhance biologics production by optimizing processes, quality control, lowering costs, and shortening production time, which helps producers to embrace data-driven methodologies and advanced technology to satisfy rising biologics demand more efficiently and sustainably.For instance, in January 2021, according to US Food and Drug Administration, a US-based federal agency of the Department of Health and human services, the Center for drug evaluation and Research (CDER), authorized 37 innovative pharmaceuticals in 2022, either as new molecular entities (NMEs) through new drug applications (NDAs) or as new therapeutic biological products through biologics license applications (BLAs).
Further, according to the National Library of Medicine, a US-based center of biomedical informatics and computational biology, there were 14 biologics approvals and authorization of 36 small molecules in 2021. Therefore, the growing demand for biologics is driving the digital biomanufacturing market.
Product innovation is the key trend gaining popularity in the digital biomanufacturing market.Major companies operating in the market are focusing on innovative solutions to sustain their position in the market.
For instance, in December 2020, IDBS Software Solutions, a France-based research and development informatics platform, introduced Polar, a BioPharma Lifecycle Management (BPLM) aiming to simplify drug development and production.Polar is intended to be quickly deployed to address workflow, process quality, collaboration, and data analysis issues that have plagued existing software solutions.
It will eliminate manual data processing and transcribing, resulting in fewer human errors and improved overall accuracy, and it will have sophisticated search capabilities to help users locate what they are searching for, eliminating the need to duplicate operations. Polar also provides out-of-the-box insight and analytics by building a highly contextualized data backbone that supports the whole development lifecycle, allowing enterprises to realize the benefits of modeling and simulation while driving innovation and reducing time-to-market.
In November 2021, Yokogawa Electric Corporation, a Japan-based electrical engineering and software company, acquired Insilico Biotechnology AG for an undisclosed amount. Through this acquisition, both companies accelerated digital transformation in the bioprocessing industry by leveraging their engineering technology and developing their business with a view to the commercialization of bioprocesses. Insilico Biotechnology AG is a Germany-based enterprise software solution for predictive biomanufacturing using Digital Twins
The countries covered in the digital biomanufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The digital biomanufacturing market research report is one of a series of new reports that provides digital biomanufacturing market statistics, including digital biomanufacturing industry global market size, regional shares, competitors with a digital biomanufacturing market share, detailed digital biomanufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the digital biomanufacturing industry. This digital biomanufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06486608/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
