Biotechnology Market Size and Growth Rate:
According to our research report, the Biotechnology Market size is poised to reach USD 471,336.4 million by the end of 2025 from USD 218,012.1 million in 2017 and this market witnessed a growth rate of 10.5% during the forecast period 2018-2025.
Biotechnology Market - Growth Drivers and Opportunities:
Growing prevalence of chronic diseases has heightened the demand for new drug development. This has been one of the key factors accounting for the growth of biotechnology study. The rise in the number of R&D expenditures and outsourcing activities by private and government bodies are also expected to fuel the growth of global biotechnology market. Rising number of future conferences and workshops are anticipated to act as a booster for the awareness and consequent growth of the biotechnology market. Bioinformatics, another prominent field of biotechnology, that includes genomic, proteomics, transcriptomics, chemo informatics, veterinary science, agriculture studies, forensic sciences and biodefense and environmental studies has also grown by leaps and bounds, owing to various factors.
The development in the field of information technology and rise in the requirement for the biotechnology are likely to propel the growth of the bioinformatics segment in the forecasted period. However, increased risks related to genetic data are expected to hinder the growth of the market as this data can be misused in many ways that can cause fatal outcomes. Biotechnology involves the spectrum of life science-based research studies working on transformative technologies for a wide range of industries.
Biotechnology Market - Regional Analysis:
North America dominated the overall market in terms of revenue in 2016 with a share of 44.15%. Presence of high R&D investments pertaining to new drug discovery and development are few factors attributing to its large share. Presence of a number of key players also boosts market growth. Asia Pacific on the other hand, is expected to gain market share during the forecast period attributed to the presence of patient awareness, rapidly improving healthcare infrastructure, and rising healthcare expenditure levels in the emerging markets. These markets include various developing economies of China and India.
Prominent Companies in the Biotechnology Market analyzed in the report are:
- Johnson & Johnson Services, Inc
- F. Hoffmann-La Roche Ltd
- Merck & Co
This research report includes following segmentation for the Biotechnology Market size and forecast until 2025:
Biotechnology Market – By Technology:
- DNA Sequencing
- Tissue engineering and Regeneration
- Cell Based Assay
- PCR Technology
- Chromatography Market
Biotechnology Market – By Application:
- Food & Agriculture
- Natural Resources & Environment
- Industrial Processing
Biotechnology Market – By Geography:
- United Kingdom
- South Korea
Middle-East & Africa
Key Takeaways from Biotechnology Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Biotechnology Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Biotechnology Market place.
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Biotechnology Market in over 20 top nations.