UK biotechnology market is projected to grow at a significant CAGR of 7.1% during the forecast period. Technological advancements in the industry are expected to boost the biotechnology market in UK during the forecast period. Technological advancements lead to a more cost-effective process, reduced time that is needed for the diagnosis and made the process swifter and result oriented. Along with this, by the development of various advanced products, the diagnosis part has become more accurate and hence better and personalized medicine can be given to the patients which proves to be highly effective when compared to any other form of diagnosis.
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There are various companies that are engaged in the development of precision or personalized medicines, which is expected to contribute to the global biotechnology market during the forecast period. For instance, in 2018, QIAGEN gained one of the leading positions in the personalized medicine, by collaborating and partnering with more than 25 companies that are engaged in the development of various diagnostics for the clinical decision making, including a full range of the company’s PCR and NGS platforms. Thus, such a shift in the trends towards personalized medicines along with the continuous contributions by the key players, the biotechnology market is expected to witness growth during the forecast period.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type
- Key Companies Profiled- Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
UK Biotechnology Market – Segmentation
By Type
- Healthcare
- Crop Production and Agriculture
- Industrial
- Natural Resources & Environment
- Others (Bioinformatics)
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