A detailed analysis of the Global Biotechnology Market 2023 is provided, including global, regional, and country-level market sizes, segmentation market growth, market share, competitive landscape, sales analysis, impact of domestic and global Biotechnology Market players, value chain optimization, trade regulations, recent developments, strategic market growth analyses, product launches, expanding the area market, and technological advances.
An analysis of Biotechnology’s growth rate, market share, market size, current and emerging trends, production and consumption ratios, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players is provided in the report, which has been segmented into key regions globally. This report provides a country-by-country analysis of the Biotechnology market to give a clearer picture of its regional distribution and growth.
The global biotechnology market size was USD 872.00 Billion in 2021 and is expected to register a revenue CAGR of 15.3% during the forecast period. Growing chronic disease incidence and the advent of innovative treatments are driving the market revenue growth. In the treatment of many diseases, biotechnology is quite helpful. The pharmaceutical industry uses biotechnology techniques from the point where antibiotic-producing microorganisms are grown in fermentation broth to the point where a pure antibiotic product is obtained. Additionally, the utilization of modern biotechnology can improve the efficacy of several disease-specific advanced therapeutic approaches. In the healthcare system, biotechnology plays an important role. The manufacture of numerous drugs and Vaccines used to treat various diseases makes extensive use of biotechnology. Various other medical procedures that play important roles in the healthcare system also include biotechnology.
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Market Overview:
In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.
Competitive Landscape:
Competitive landscape of the global biotechnology market is moderately consolidated with few major companies operating on global and regional levels. Major companies are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footprint in the global market. Some major companies in the market report include Gilead Sciences, Inc., AstraZeneca plc, Biogen Inc., Celgene Corporation, Abbott Laboratories, Novo Nordisk A/S, Amgen Inc., Johnson & Johnson Private Limited, Merck & Co., Inc., and Biomérieux SA.
Based on Product Type market is segmented into:
- Instruments
- Reagents
- Software & Services
Based on Application market is segmented into:
- Food & Agriculture
- Industrial Processing
- Health
- Natural Resources & Environment
- Bioinformatics
- Others
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Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Some recent developments are as follows:
- On 30 October 2020, Sana Biotechnology, Inc. (Sana), a company focused on generating and delivering modified cells as medicines, acquired Oscine Corp., a company developing potentially curative or disease-modifying cell treatments for brain and Central Nervous System (CNS) diseases. Sana’s broader platform and initiatives will be integrated with Oscine’s glial progenitor cell program and underlying technology.
- On 13 January 2020, QIAGEN N.V. announced a strategic agreement with Amgen to develop tissue-based companion diagnostics for AMG 510, an experimental cancer therapy, to detect patients with KRAS G12C mutations. The collaboration will first focus on companion diagnostics for non-small cell lung cancer (NSCLC), but it will also allow Amgen to develop the tests for additional oncology clinical development programs.
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We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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