The US biotechnology market is projected to grow at a significant CAGR of 7.4% during the forecast period. The increasing popularity of cell culture in drug discovery, cancer treatment, and vaccine production has promoted the funding of cell-based research. Decades of investment in research has made the US a world leader in biological and Medical Science. Most of the success is due to the public/private funding partners such as state governments of developed economies have put forward money in the form of initiatives in order to attract cell research so that the states may gain benefits from this promising technology. Private funds generally come from pharmaceutical companies that fund trials to list their own products.
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It has led to the development of innovative technologies and created entirely new global industries. Investment in biomedical research funded by NIH has supported discoveries that lowered death and disability from polio, heart disease, and cancer, prolonging life and reducing suffering. NIH-funded research is continuing to produce the awareness that is needed for improvements in the healthcare sector in the near future. NIH’s major research funding was on immunotherapy, which uses human cells to improve cancer treatment options and creating organ-on-a-chip through a series of micro-chambers, fluids, and human cells to stimulate a person’s internal organs. As the funding on cell-based research increases, the opportunities for augmentation of the cell harvesting market are expected to increase significantly in the near future.
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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?
US Biotechnology Market – Segmentation
By Type
- Healthcare
- Crop Production and Agriculture
- Industrial
- Natural Resources & Environment
- Others (Bioinformatics)
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