Biotechnology in Australia - Market Research Report (2014-2029)

New life: COVID-19 research initiatives have boosted industry revenue growth

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Biotechnology refers to the use of living organisms, or their products, to modify human health and the environment. Biotechnology is becoming an increasingly important part of product development in a variety of sectors, with businesses using biotech applications to address many social and economic issues, including human health, food security and alternative fuels. Several companies have reached commercial readiness, with robust product pipelines and the support of international partners improving their attractiveness to investors. While human therapeutics companies continue to dominate the industry, agricultural technology and food technology companies are gaining momentum. New funding sources are helping to drive industry growth.

Biotechnology involves applying science and technology to living organisms, and parts, products and models, to alter living or non-living materials to produce knowledge and biotechnology products and services. The industry includes biotechnology research and development, licensing, product manufacturing and product wholesaling. Companies that focus on medical devices are not included in the industry.