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Digital Biomanufacturing Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The digital biomanufacturing market size is expected to see rapid growth in the next few years. It will grow to $35.01 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%.” - The Business Research Company
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The digital biomanufacturing market has experienced significant growth in recent years. It is projected to expand from $18.87 billion in 2023 to $21.57 billion in 2024, growing at a compound annual growth rate (CAGR) of 14.3%. This growth in the past period is driven by factors such as the increasing complexity of biopharmaceuticals, the rise in personalized medicine, the demand for more cost-effective production, bioprocess optimization, and the need for quality control and regulatory compliance.
How Big Is the Global Digital Biomanufacturing Market Expected to Grow, and What Is Its Annual Growth Rate?
The digital biomanufacturing market is anticipated to experience significant growth in the coming years, reaching $35.01 billion by 2028 with a compound annual growth rate (CAGR) of 12.9%. This growth is driven by factors such as the use of blockchain for supply chain transparency, advanced process control (APC) systems, a focus on sustainability, interconnected biomanufacturing ecosystems, and the growth of biomanufacturing in emerging markets. Key trends during the forecast period include the integration of artificial intelligence (AI), the use of digital twins for bioprocessing, advancements in biotechnology, Industry 4.0 integration, and real-time monitoring and control.
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What Is Driving the Growth of the Digital Biomanufacturing Market?
The expansion of the pharmaceutical industry is expected to drive the growth of the digital biomanufacturing market in the future. The pharmaceutical sector is a vast and intricate part of the global economy, involving the research, development, production, and marketing of pharmaceutical drugs. Digital biomanufacturing plays a key role in this industry by converting traditional, labor-intensive processes into data-driven, automated systems.
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Which Leading Companies Are Driving The Growth Of The Digital Biomanufacturing Market Share?
Major companies operating in the digital biomanufacturing market report are Sanofi SA, Thermo Fisher Scientific Inc., Honeywell International Inc., 3M Company, SAP SE, Danaher Corporation, ABB AG, Siemens Healthineers AG, Emerson Electric Co, GE HealthCare Technologies Inc.
What Are The Key Trends Driving The Growth Of The Digital Biomanufacturing Market Size?
Leading companies in the digital biomanufacturing market are concentrating on innovative solutions such as single-use bioprocessing systems to maintain their market position. These systems improve digital biomanufacturing by offering greater flexibility, real-time monitoring, reduced contamination risks, and cost-efficiency.
How Is the Global Digital Biomanufacturing Market Segmented?
1) By Type: Manufacturing Technologies, Analytical And Process Control Technologies, Software, Other Types
2) By Types of Biologic(s) Manufactured: Antibodies, Cell And Gene Therapies, Proteins, Vaccines, Other Types
3) By Technology: AI And IoMT Solutions, Process Analytical Technologies, Data Analytics Software, Predictive Analytics And Digital Twin Technologies, Other Technologies
4) By Application: BioProcess Optimization, Biomanufacturing Process Automation And Control, Other Applications
5) By End User: Biopharmaceutical Companies, Academic And Research Institutes
North America: The Leading Region in the Digital Biomanufacturing Market
North America was the largest region in the digital biomanufacturing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the digital biomanufacturing global market during the forecast period. The regions covered in the digital biomanufacturing global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Is the Digital Biomanufacturing Market?
Digital biomanufacturing refers to the application of digital technologies and advanced analytics in the biomanufacturing sector. It combines data-driven decision-making, automation, and advanced manufacturing technologies to enhance process efficiency and accelerate innovation in the biomanufacturing industry.
The Digital Biomanufacturing Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Digital Biomanufacturing Market Report: Trends, Opportunities, Strategies, and More
The Digital Biomanufacturing Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into digital biomanufacturing market size, digital biomanufacturing market drivers and trends, digital biomanufacturing global market major players, digital biomanufacturing competitors' revenues, digital biomanufacturing global market positioning, and digital biomanufacturing market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company has published more than 15,000 reports spanning 27 industries and over 60 regions. Our research is supported by 1.5 million datasets, thorough secondary research, and unique insights gained from interviews with industry experts. We offer ongoing and customized research services, featuring a variety of specialized packages designed to meet your specific needs, such as Market Entry Research, Competitor Tracking, Supplier & Distributor Packages, and many others.
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The Business Research Company
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