The global biotechnology market is growing at a significant CAGR of around 6.1% during the forecast period (2020-2026). The market is driven by the growing healthcare spending and increase in demand for food security. With the growing demand for food security, the demand for genome editing tools has been significantly increasing to improve crop yield. Genome editing tools is considered as an advanced biotechnological method that allows accurate and efficient targeted modification of an organism’s genome. It can be implemented on a wide range of plant species to improve agricultural traits and characterize gene functions. These factors offer growth to the biotechnology in crop production and agriculture application.
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Moreover, the market growth is attributed to the increasing application of synthetic biology in a wide range of sectors and increasing investments in the field of synthetic biology. The companies are using synthetic biology for accelerating the search for potential COVID-19 vaccine. For instance, Synthetic biology company, Ginkgo Bioworks is bringing its R&D experience into the fight against the spread and is speeding up the development of a vaccine by working together with the different teams who are working on an inoculation. The company in March 2020 announced to collaborate with researchers at the Department of Bioengineering of Stanford University and use its DNA design and synthesis capabilities for building DNA that will enable researchers to express these viral proteins (on which the vaccines against COVID-19 rely). This assist in the growth of the synthetic biology, which in turn, will offer growth to the biotechnology market during the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Biotechnology Market by Technology
- DNA Sequencing
- Cell-Based Assay
- Nanobiotechnology
- Tissue Engineering and Regeneration
- Fermentation
- Others (Chromatography and PCR Technology)
Global Biotechnology Market by Application
- Healthcare
- Crop Production and Agriculture
- Industrial Processing
- Natural Resources & Environment
- Others (Bioinformatics)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Abbott Laboratories
- AbbVie Inc.
- ADOCIA
- Alere Inc.
- Alkermes PLC
- Amgen Inc.
- AstraZeneca PLC
- BIOCAD
- Biogen Inc.
- Bristol-Myers Squibb Co.
- CSL Ltd.
- Hoffmann La-Roche Ltd.
- Galapagos NV
- Johnson & Johnson Services Inc.
- Merck & Co., Inc.
- Miltenyi Biotec B.V. & Co. KG
- Novartis AG
- Novo Nordisk A/S
- Pfizer Inc.
- Regeneron Pharmaceuticals, Inc.
- Sanofi SA
- Thermo Fisher Scientific Inc.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global biotechnology market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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