According to a report ,“Biotechnology Market Analysis By Application (Health, Food & Agriculture, Natural Resources & Environment, Industrial Processing Bioinformatics), By Technology, And Segment Forecasts, 2018 – 2025″ published by Grand View Research, Inc., The global biotechnology market is expected to reach USD 727.1 billion by 2025. The emergence of certain key themes in the biotechnology market is expected to drive growth in this industry to a lucrative extent.
Key Takeaways from the report:
Owing to technological advancements and widespread application of this field in various aspects of healthcare, the health segment is expected to exhibit strong progress in the forecast period
Continuous introduction of new biotechnological products to cater to healthcare entities that are involved in diagnosis, prognosis and biopharmaceutical development is estimated to propel the market
Decreasing costs and rise in number of services in this segment are expected to drive segment with lucrative avenues
North American pharmaceutical and biotech companies have experienced great success in the recent years resulting in larger share
Introduction of technologically advanced products and presence of various biotechnology based programs such as the UC Davis Biotechnology Program, the University of California Biotechnology Research and Education Program are attributive to drive the growth of sector in the coming years
Asia Pacific market is anticipated to grow at the most lucrative pace due to changing health care infrastructure in this region which drives the demand for these products
Strong governmental support and recruitment of highly trained Chinese scientists with the support of their administration has made it possible for China to speedily build up capacity in area of regenerative medicine
Key players operating include Gilead, Celgene, Abbott, Novo Nordisk A/S,Novartis AG, Sanofi Aventis, and Lonza
China biotechnology market by application, 2014 – 2025 (USD Billion)
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Biotechnology market, by region, 2016 (%)
These key themes include regenerative medicine and genetics in diagnostics. Presence of a plethora of companies focusing on the development of regenerative therapies is anticipated to drive sector growth through to 2025. Technological advancements pertaining to the penetration of artificial intelligence in this industry is expected to fuel progress with potential avenues. The companies are engaged in unleashing machine learning in order to understand individual cancer cases, while recommending clinical trials.
Supportive government (and its allied agencies) policies related to synthetic biology is a major growth impacting driver in this sector. Developed economies such as UK and the U.S. are critically monitoring and funding synthetic biology R&D initiatives. For example, in 2010, a six months’ review of synthetic biology headed by a panel of expert scientists was enforced by the U.S. President and subsequently conducted a hearing of the Energy and Commerce Committee exclusively concerning synthetic biology.
Grand View Research has segmented the biotechnology market on the basis of technology, application, and region:
Biotechnology Technology Outlook (Revenue, USD Million; 2014 – 2025)
DNA Sequencing
Nanobiotechnology
Tissue engineering and Regeneration
Fermentation
Cell Based Assay
PCR Technology
Chromatography Market
Others
Biotechnology Application Outlook (Revenue, USD Million; 2014 – 2025)
Health
Food & Agriculture
Natural Resources & Environment
Industrial Processing
Bioinformatics
Biotechnology Regional Outlook (Revenue, USD Million; 2014 – 2025)
North America
U.S.
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
Latin America
Brazil
Middle East and Africa (MEA)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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