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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Biotechnology refers to the utilization of biological processes and living organisms to modify different products and services for a specific application. One such application includes the production of therapeutic proteins and other drugs through genetic engineering. Biotechnology is employed in the agriculture sector for growing genetically modified plants, improving pest resistance, enhancing crop herbicide tolerance, and facilitating sustainable farming. Moreover, it is gaining traction in wastewater treatment, chemical manufacturing, paper, textiles, and food products, and reducing the environmental footprint of industrial processes and making them cleaner as well as more efficient.
With the increasing food scarcity on account of the growing global population, there is a significant rise in the demand for biotechnology to enhance crop yield. Moreover, the increasing adoption of sustainable manufacturing methods is contributing to the market growth. Apart from this, the application of biotechnology is expanding in the healthcare sector. It is used in stem cell research and cloning techniques for replacing defective cells and tissues in regenerative medicine. Furthermore, the increasing focus on finding molecular root causes of diseases is encouraging investments in research and development (R&D) activities in the field of biotechnology. These activities will enable the production of therapeutic proteins and the improvement of existing pharmaceuticals and monoclonal antibodies, which can stop the disease progression. The need for biotechnology is further escalating for finding potential treatments of coronavirus disease (COVID-19). Besides this, the increasing demand for biofuels due to the strict emission regulations set by governing agencies worldwide is anticipated to influence the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biotechnology market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, technology and application.
Breakup by Product Type:
Breakup by Technology:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Technology, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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