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Biotechnology Market (Technology - Cell Based Assays, Tissue Engineering and Regeneration, PCR Technology, Chromatography, Nanobiotechnology, DNA Sequencing, and Others; Application - Health, Bioinformatics, Food and Agriculture, Industrial Processes, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : July, 2021

  • Rep Id : HC08689

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on the biotechnology market provides an in-depth analysis of segments and sub-segments in the global as well as regional biotechnology market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biotechnology market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global biotechnology market. According to the report, the global biotechnology market is projected to reach a value of over USD 1000 Billion in 2027 from USD 700 Billion in 2021 with a CAGR of 6.1% over the forecast period of 2021-2027.


Biotechnology Market

 

Market Insight

Biotechnology involves the manipulation of biological processes to develop products. The scope of biotechnology has only increased since its origin in the 1920s. Biotechnology engulfs our daily lives. It has a wide area of applications in fields such as health, food and agriculture, industrial processes, and others. The world is facing many complexities currently such as deadly pandemics, food scarcity, pollution, and others. Biotechnology is going to be instrumental in finding solutions for these problems. Governments and companies around the world are investing heavily in biotechnology. The use of biotechnology is expected to increase in the agriculture and health industry. In the ambition of humans of being interplanetary and space-faring species biotechnology holds the key.

 

The prevalence of diseases such as cancer and diabetes is majorly driving the biotechnology market. These diseases don’t have any permanent medication and medical treatment. Thus, biotechnology is being used to develop effective treatments and medications for these diseases. Through the use of biotechnology, research studies are being undertaken to better understand cancer, diabetes, and other diseases. Biotechnology was the key factor in the success of the green revolution in the 1970s. The growing agricultural industry is also driving the market. Biotechnology is used for developing high-yielding crops, fertilizers, food enzymes. Different crop modification techniques are being used. Biotechnology can be instrumental in solving the food scarcity issue. According to World Bank around 2.01 billion tonnes of solid waste is generated annually in the world. Therefore, the waste treatment methods need to be enhanced to treat the humungous amount of waste generated. Biotechnology is being actively used in developing new waste treatment methods. Stringent government regulations regarding biotechnology is the only restraining factor in the market. New technological innovations are expected to provide new opportunities in the market.

 

North America is expected to hold the largest market share over the forecasted period. Asia-Pacific is expected to grow at the fastest rate in the market. North America has been the pioneer of biotechnology. Even the famed green revolution originated from North America. With favorable support of the government and presence of the biotechnology companies such as Johnson & Johnson Services, Inc., Pfizer, Inc., Medtronic, Inc., and Caribou Biosciences, Inc. the region is expected to dominate the market. The scientific and technological base in Asia-Pacific is rapidly growing. With the development of adequate infrastructure, biotechnology is penetrating every industry. With a strong pharmaceutical and agricultural industry in the Asia-Pacific, the demand for biotechnology is expected to be high. 

 

Segment Covered

The report on global biotechnology market covers segments such as technology, and application. On the basis of technology, the sub-markets include cell based assays, tissue engineering and regeneration, PCR technology, chromatography, nanobiotechnology, DNA sequencing, and others. On the basis of application, the sub-markets include health, bioinformatics, food and agriculture, industrial processes, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Johnson & Johnson Services, Inc., Pfizer, Inc., ROCHE HOLDING AG, MERCK & CO, NOVARTIS AG, Medtronic,Inc., BASF SE, Indigo Ag, Inc., Novozymes A/S, and Caribou Biosciences, Inc..

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the biotechnology market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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