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Global Biotechnology Market Report
The global biotechnology market size reached US$ 617.98 Bn in 2021. By 2027, It will reach a value of US$ 964.96 Bn, growing at a CAGR of 7.50% (2022-2027).
SHERIDAN, WYOMING, UNITED STATES, September 13, 2022 /EINPresswire.com / -- The latest research study“Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global biotechnology market size reached US$ 617.98 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 964.96 Billion by 2027, exhibiting a CAGR of 7.50% during 2022-2027.
Biotechnology involves utilizing biological processes and living organisms to modify various products and services for specific applications. It can be categorized into several types in terms of technology, including nanobiotechnology, tissue engineering and regeneration, DNA Sequencing, cell-based assays, fermentation, PCR technology, chromatography, etc. Biotechnology-based products and services prove effective in zero-waste bioprocessing, bioproduction of sustainable chemicals, producing genetically modified crops, etc. Consequently, they find widespread utilization across numerous sectors, such as healthcare, food and agriculture, natural resources and environment, industrial processing, bioinformatics, biofuels, and more.
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COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Biotechnology Market Trends and Drivers:
The elevating food scarcity across countries, owing to the growing global population, is primarily driving the biotechnology market. Besides this, the increasing usage of sustainable manufacturing methods and the expanding integration of natural and biosciences in stem cell research and cloning techniques to replace defective cells and tissues in regenerative medicine are acting as significant growth-inducing factors.
Moreover, the escalating focus towards finding molecular root causes of diseases and the inflating investments in research and development (R&D) activities to enable the production of therapeutic proteins and ensure improvements in existing pharmaceuticals and monoclonal antibodies are also positively influencing the market growth. Additionally, the rising demand for biofuel across the globe is expected to propel the biotechnology market in the coming years.
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Global Biotechnology Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
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 has segmented the market on the basis of region, product type, technology and application.
Breakup by Product Type:
•Software and Services
Breakup by Technology:
•Tissue Engineering and Regeneration
Breakup by Application:
•Food and Agriculture
•Natural Resources and Environment
Breakup by Region:
• 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
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• 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.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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