Digital bioprocessing is believed to have transformed manufacturing principles in areas, such as process development, operational activities, logistics and supply chain management, when used in combination with advanced technologies, including artificial intelligence (AI), machine learning and internet of things (IoT).
The global digital manufacturing market size is anticipated to reach at USD 2.0 billion in 2024 to 12.30 billion by 2035, to grow at a compounded annual growth rate (CAGR) of 17.9% during the forecast period, till 2035.
Considering the current market trends and innovation landscape, we anticipate that the next generation of machine learning technologies will be integrated with advanced data analytics, and process and equipment modeling to form comprehensive systems, for the purpose of real-time monitoring and predictive analysis. It is worth highlighting that the maximum number of partnerships were inked in 2021, followed by 24 agreements that were signed in 2022. Notable examples of agreements in 2022 include (in reverse chronological order) those inked between Emerson and Atos (December 2022), AspenTech and inmation Software (October 2022), and Repligen and DRS Daylight Solutions (September 2022).
It is worth mentioning that the popularity and dominance of the service alliance model has decreased over the years. This indicates that industry stakeholders are actively adopting other partnership models to enhance their offerings. For instance, there has been a gradual increase in the number of mergers and acquisitions in this domain since 2020. Further, most of the partnership agreements (64%) inked by players engaged in this domain were focused on process analytical technologies, followed by those focused on manufacturing execution systems (16%) and digital twins (13%). It is interesting to know that majority of the intercontinental, as well as intracontinental partnerships have been signed by players based in Europe (26); examples of such firms include (in alphabetical order) Biopharm, CPI, IDBS, Microsaic Systems and Yokogawa Electric.
Being a relatively concentrated market, players are focused on developing unique selling propositions for their technology platforms and become strategic partners for biologic developers
Currently, majority (56%) of the players in this market have been categorized as followers (companies having less experience of digital biomanufacturing and low portfolio strength). It is worth mentioning that in the last few years, many firms based in North America, entered into the domain of digital biomanufacturing. At present, the market in this region primarily features followers. In order to become pioneers, players need to enhance / upgrade their technology portfolio. Notable examples of followers in North America include (in alphabetical order) AspenTech, Emerson, GE Healthcare, Flownamics, Thermo Fisher Scientific.
Based on the aforementioned elements, such as historical trends, partnership activity, various investments, key challenges, short-term and long-term outlook, we were able to map the digital biomanufacturing industry on the lifecycle chart comprising of various phases, including pre-introductory, introductory phase (P0), growth phase (PI), shakeout phase (PII) and maturity phase (PIII). Further, as per our understanding developed through primary and secondary research, it is worth mentioning that at present, digital biomanufacturing industry is positioned in the growth phase. Currently, this domain is at a budding stage in terms of revenue generation potential and the adoption of fully integrated digital technologies is expected to reach its maximum potential in the maturity phase. Further, maturation, reliance and high adoption of digital twins and cloud-based technologies are anticipated in the near future.
Research Methodology
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection. The report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the Digital Manufacturing Market.
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