NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) — Data Bridge Market research has recently published comprehensive business research on “Biotechnology Market” including historic data, present market trends, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Market research analysis and estimations carried out in the Biotechnology report aid businesses in attaining knowledge about what is already there in the market, what the market looks forward to, the competitive background, and steps to be followed for outdoing the rivals. Simplicity maintained in the research method and application of the best tools and techniques makes this market research report exceptional. The report is bifurcated into several attributes which can be listed as manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again elaborated in the first class Biotechnology business report as required to describe the topic and provide maximum information for better decision making
The biotechnology market survey report gives description about the complete market research with inputs from industry experts. The following aspects are kept into view while formulating this global market report which mainly consist of the market type, organization size, availability on-premises, end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Market research studies of this report helps to estimate several important parameters that can be mentioned as investment in a rising market, success of a new product, and expansion of market share. The large-scale Biotechnology market research report brings together a vast market place clearly into the focus.
Data Bridge Market Research analyses that the biotechnology market which was USD 1023.92 billion in 2022, is expected to reach USD 10129.16 billion by 2030, at a CAGR of 29% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Biotechnology is a technology that uses biological systems, living organisms, or parts of them to develop or create various products. Biotechnology has become simple due to technological advancements, as a growing number of key market players develop and launch new products to expand their market share. Furthermore, the emergence of COVID-19, which has increased demand for vaccine development, has fuelled the growth of the biotechnology market. As new technologies and software are developed in the healthcare sectors, tracking systems have evolved or become advanced in response to market demand
The market is driven by strong government support through initiatives aimed atmodernizing the regulatory framework, improving approval processes and reimbursement policies, and standardizing clinical studies. The growing presence of personalized medicine and an increasing number of orphan drug formulations are opening new avenues for biotechnology applications and driving the influx of emerging and innovative biotechnology companies, further increasing market revenue.
- In 2021, Thermo Fischer Scientific agreed to pay USD 17.4 billion to acquire clinical research organization Pharmaceutical Product Development (PPD). This acquisition would help the company commercialize drug discoveries by investing more in drug development and expand its clinical research business.
- In 2021, Amgen agreed to buy Rodeo Therapeutics Corporation (Rodeo). Rodeo is a biopharmaceutical company that develops small-molecule therapies to aid in the regeneration and repair of specific tissues. This acquisition will enable Amgen to offer innovative biopharmaceutical products and reclaim its market position.
Some of the major players operating in the biotechnology market are:
- Agilent Technologies Inc. (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Promega Corporation (U.S.)
- Quality Biological (U.S.)
- TAKARA HOLDINGS INC. (Japan)
- Sysmex Corporation (Japan)
- Tosoh Corporation (Japan)
- Ortho Clinical Diagnostics (U.S.)
- Olympus Corporation (Japan)
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- Collaborations and partnerships
Collaborative efforts and partnerships aimed at developing and commercializing new therapeutic platforms and molecules are expected to drive market growth. For example, in January 2021, Novartis collaborated with Alnylam to investigate the application of the latter’s siRNA technology for the development of targeted therapy for the restoration of liver function. Similarly, in September 2021, AstraZeneca and VaxEquity collaborated on developing and commercializing a self-amplifying RNA therapeutics platform to explore novel therapeutic programmes. Furthermore, rising biosimilar demand and precision medicine applications are expected to drive segment growth during the forecast period.
Biotechnology Market Drivers:
- Innovations and advent of novel technologies
Growing advances in life sciences are providing numerous benefits associated with healthcare interventions and productivity by incorporating innovative technology. The development of innovative techniques and their implementation by firms has a positive impact on the biotech sector and is expected to spur significant market growth. Innovative technologies, such as 3D bioprinting, are being used in medicine. 3D bioprinting uses living cells to develop human body parts such as heart valves, cartilage, and skin. It has a high potential for developing drugs as well as tissues and organs such as the liver and heart using patient’s body cells. The ability to create human cells and tissues will broaden the range of applications in medical research by providing precise models for study and analysis. These are the novel technologies which drive the market growth.
- Increasing medical applications of fermentation technology
Fermentation technology advancements are increasingly being used in the production of monoclonal antibodies, therapeutic recombinant proteins and DNA, and anti-viral drugs, among other things. Aside from medications, fermentation technology is used to produce essential materials for the development of drug delivery vehicles, diagnostic kits, and medical devices. Furthermore, the increasing use of bioethanol due to environmental concerns to reduce reliance on synthetic or petroleum-derived counterparts will drive the biotechnology market.
The high cost of developing biotechnology reagents will undoubtedly limit market growth. Several market players make large investments in installing new and advanced machines to speed up the process, which raises the cost
Key Coverage in the Biotechnology Market Report:
- Detailed analysis of the Biotechnology Industry by a thorough assessment of the technology, product type, application, and other key segments of the report
- Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
- Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
- Comprehensive analysis of the regions of the Biotechnology industry and their futuristic growth outlook
- Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
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Global Biotechnology Market Scope:
- Tissue Engineering and Regeneration
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- Academic and Research Institutes
Biotechnology Market Regional Analysis/Insights
The biotechnology market is analyzed and market size insights and trends are provided by country, product type, technology, application, end user and distribution channel as referenced above
The countries covered in the biotechnology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the biotechnology market because of increasing populace suffering from chronic disease
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to presence of highest number of biotechnology products providers
Table of Contents:
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Biotechnology Market: Regulations
- Market Overview
- Global Biotechnology Market, By Component
- Global Biotechnology Market, By Product Type
- Global Biotechnology Market, By Technology
- Global Biotechnology Market, By Application
- Global Biotechnology Market, By End User
- Global Biotechnology Market, By Distribution Channel
- Global Biotechnology Market, By Region
- Global Biotechnology Market: Company Landscape
- SWOT Analyses
- Company Profile
- Related Reports
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