Posted by Global Biotechnology Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Biotechnology market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global biotechnology market size reached US$ 665.6 Billion in 2022. Looking forward, IMARC Group 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 a versatile discipline that leverages the power of biological processes, organisms, and systems to pioneer novel products, technologies, and solutions for diverse industries and human well-being. It encompasses the manipulation of the genetic material of living organisms, including DNA, to modify their attributes or instigate the emergence of novel traits. This field plays a pivotal role in crafting diagnostic tools for disease detection, monitoring, and tailoring treatments to individual genetic profiles. Moreover, biotechnology is instrumental in formulating personalized nutrition strategies guided by genetic insights. It also empowers the creation of diagnostics, vaccines, and treatments for a wide array of diseases.
Global Biotechnology Market Trends and Drivers:
The global market is experiencing significant growth, primarily driven by the expanding application of biotechnology in pioneering cutting-edge medical treatments like gene therapies, personalized medicine, and innovative biopharmaceuticals. Furthermore, the increasing integration of biotechnology in the agricultural sector to enhance crop yields, bolster pest resistance, and develop genetically modified organisms (GMOs) is contributing favorably to market expansion. Additionally, the growing utilization of biotechnology in bioprocessing and biomanufacturing to streamline the production of pharmaceuticals and industrial chemicals is exerting a positive influence on the market. Moreover, the rising adoption of biotechnology in the manufacturing of regenerative medicine, including tissue engineering and stem cell therapies, is serving as a driving force behind market growth.
Global Biotechnology Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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
The report segmented the market on the basis of region, product type, technology, and application.
Breakup by Product Type:
- Instruments
- Reagents
- Software and Services
Based on product type, the market has been segregated into instruments, reagents, and 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
Biotechnology is used in the healthcare industry due to the rising prevalence of various chronic ailments and the rising need for diagnostic tests, therapies, and medications.
Breakup By Regions:
- 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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.