The global biotechnology market size reached US$ 665.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 1,033.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
Biotechnology is the deliberate genetic manipulation technology that uses biological processes and living organisms to develop products for specific applications, such as genetically modified food products. It involves the manufacturing of therapeutic proteins and various medications through genetic engineering. It helps improve the nutritional content of different food and prevent health problems. It allows medical researchers to research more about cancer and genetic disorders and offers medical advancement opportunities. Besides this, biotechnology is used in the agriculture industry to enhance pest resistance, grow genetically modified plants, enhance crop herbicide tolerance, and facilitate sustainable farming. At present, it finds extensive applications in chemical manufacturing, wastewater treatment, and minimizing the harmful emissions of industrial processes.
Biotechnology is the deliberate genetic manipulation technology that uses biological processes and living organisms to develop products for specific applications, such as genetically modified food products. It involves the manufacturing of therapeutic proteins and various medications through genetic engineering. It helps improve the nutritional content of different food and prevent health problems. It allows medical researchers to research more about cancer and genetic disorders and offers medical advancement opportunities. Besides this, biotechnology is used in the agriculture industry to enhance pest resistance, grow genetically modified plants, enhance crop herbicide tolerance, and facilitate sustainable farming. At present, it finds extensive applications in chemical manufacturing, wastewater treatment, and minimizing the harmful emissions of industrial processes.
Biotechnology Market Trends:
The growing global population is leading to increasing food scarcity, which, in turn, is catalyzing the demand for biotechnology to improve crop production. In addition, the rising prevalence of chronic medical ailments and the growing need for personalized medications are positively influencing the market. Biotechnology is employed in the healthcare sector in stem cell research and cloning techniques to replace damaged cells and tissues in regenerative medicine. Additionally, the increasing number of orphan drug formulations are expanding biotechnology applications and offering lucrative growth opportunities to emerging biotechnology companies. Furthermore, various initiatives are being undertaken by governments of several countries to improvise the medication regulatory policies, standardize clinical studies, and improve reimbursement policies. This, in turn, is encouraging industry investors and offers a favorable market outlook. Moreover, increasing investments in research and development (R&D) activities in the field of biotechnology to understand molecular root causes of diseases and provide adequate medication and treatment are expected to propel market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global biotechnology market report, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, technology, and application.Breakup by Product Type:
- Instruments
- Reagents
- Software and Services
Breakup by Technology:
- Nanobiotechnology
- Tissue Engineering and Regeneration
- DNA Sequencing
- Cell-Based Assays
- Fermentation
- PCR Technology
- Chromatography
- Others
- Based on technology, the market has been segmented into nanobiotechnology, tissue engineering and regeneration, DNA sequencing, cell-based assays, fermentation, PCR technology, chromatography, and others
Breakup by Application:
- Healthcare
- Food and Agriculture
- Natural Resources and Environment
- Industrial Processing
- Bioinformatics
- Others
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
- North America exhibits a clear dominance in the market on account of the existence of various key players and rising expenditure on research and development (R&D) activities in the region.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amgen Inc., Biocon Limited, Biogen Inc., F. Hoffmann-La Roche AG, Genmab A/S, Lonza Group AG, Novartis AG, Novo Nordisk A/S, Pfizer Inc., Regeneron Pharmaceuticals Inc., Seagen Inc., Syngenta AG and Vertex Pharmaceuticals Incorporated.Key Questions Answered in This Report:
- How has the global biotechnology market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global biotechnology market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global biotechnology market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Biotechnology Market
6 Market Breakup by Product Type
7 Market Breakup by Technology
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amgen Inc.
- Biocon Limited
- Biogen Inc.
- F. Hoffmann-La Roche AG
- Genmab A/S
- Lonza Group AG
- Novartis AG
- Novo Nordisk A/S
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- Seagen Inc.
- Syngenta AG and Vertex Pharmaceuticals Incorporated
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | May 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 665.6 Billion |
Forecasted Market Value ( USD | $ 1033.6 Billion |
Compound Annual Growth Rate | 7.6% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |