Global Biotechnology Market Size, Share, Growth, Trends, Industry Report 2023-2028

Global Biotechnology Market Size, Share, Growth, Trends, Industry Report 2023-2028

Global Biotechnology Market Overview 2023-2028 

IMARC Group, a leading market research company, has recently releases report titled “Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biotechnology market report, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global biotechnology market size reached US$ 665.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,033.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Biotechnology harnesses the power of living organisms and biological systems to craft innovative solutions and products spanning diverse industries. It applies principles from biological science and engineering to shape, modify, and amplify biological processes for practical applications. This field is pivotal in the development of genetically modified crops, bolstering their resistance to pests and diseases while increasing crop yields and advancing food security. Beyond agriculture, biotechnology plays a vital role in crafting personalized medicine, gene therapies, and biopharmaceuticals, ultimately elevating patient outcomes and overall quality of life. Moreover, it contributes to the production of eco-friendly biofuels, biodegradable plastics, and wastewater treatment methods, curbing the environmental impact of various industries. By ensuring the safety, freshness, and extended shelf life of food products, biotechnology meets the growing global demand for its advancements.

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Global Biotechnology Market Trends and Drivers:

Currently, the expanding adoption of biotechnology-driven diagnostic tools, facilitating swift and accurate disease detection, stands out as a pivotal factor fortifying market expansion. Additionally, the burgeoning development of biopharmaceuticals, including monoclonal antibodies and vaccines, coupled with the surging popularity of precision medicines, contributes positively to market dynamics. Furthermore, the increasing demand for enhanced agricultural productivity and sustainable farming practices paints a promising picture for the market. Moreover, the upward trajectory of biotechnology solutions in pollution control, waste management, and sustainable resource utilization adds to the market’s growth. The global inclination towards innovative healthcare solutions further fuels market expansion, while the escalating prevalence of chronic and infectious diseases propels the demand for new therapies and vaccines, creating lucrative opportunities for industry investors. Embracing technological advancements in biotechnology tools and techniques accelerates research and development (R&D) and the commercialization of biotech products, serving as a driving force for market growth.

Global Biotechnology Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: 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 segmented the market on the basis of region, product type, technology, and application.

Breakup by Product Type:

  • Instruments
  • Reagents
  • Software and Services

Based on product type, the market has been segregated into instruments, reagents, and software and services.

Breakup by Technology:

  • Nanobiotechnology
  • Tissue Engineering and Regeneration
  • DNA Sequencing
  • Cell-Based Assays
  • Fermentation
  • PCR Technology
  • Chromatography
  • Others

Based on technology, the market has been segmented into nanobiotechnology, tissue engineering and regeneration, DNA sequencing, cell-based assays, fermentation, PCR technology, chromatography, and others

Breakup by Application:

  • Healthcare
  • Food and Agriculture
  • Natural Resources and Environment
  • Industrial Processing
  • Bioinformatics
  • Others

Biotechnology is used in the healthcare industry due to the rising prevalence of various chronic ailments and the rising need for diagnostic tests, therapies, and medications.

Breakup By Regions:

  • 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

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • 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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