Global Biotechnology Market is expected to grow at a CAGR of 14% to reach US$ 1,254.1 million in 2024.
The growth is coupled with rising demand of modern and innovative technologies such as DNA sequencing, recombinant technology, fermentation, tissue engineering. Further, rising demand for food to meet the need of ever increasing population and scarce availability of non-renewable natural resources also expected to drive the biotechnology market. Application of Genetic engineering and Genetic Modification (GM) processes to agricultural food products also expected to drive the business growth. Furthermore, decreasing prices of DNA sequencing technologies will encourage R&D activities to better understand genetic variations and develop therapeutic solutions.
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Moreover, development of novel techniques and their implementation by the organisation by collaborating with the other participants will drive the Global Biotechnology Market. Further, increasing demand for therapeutic and diagnostic solutions on principles of red biotechnology, DNA sequencing, and recombinant technology is expected to drive the Global Biotechnology Market through 2024. Increasing prevalence of diseases such as hepatitis B, cancer, and other orphan disorders is also expected to fuel demand in the forecast period.
In 2017, North America dominated the overall market. The market growth is driven by the increasing R&D investments relating to new drug discovery and development. U.S. held highest market in North America due to increasing level of per capita spending on healthcare than other countries and has a high growth rate amongst other countries. According to the estimates published by OECD Health Statistics in 2014, it has been estimated that in 2012, U.S. spent nearly 16.9% of its GDP towards healthcare expenditure, which is the highest. The fact supports the estimated share of Global Biotechnology Market.
Asia Pacific is expected to have higher growth rate in the forecast period owing to the presence of patient awareness, rapidly improving healthcare infrastructure, and rising healthcare expenditure levels in the emerging markets. Global Biotechnology Market include the developing economies of China and India.
In 2017, nanobiotechnology held the highest market share. The Global Biotechnology Market growth is driven by fermentation and cell-based assay segments owing to rising R&D initiatives by various biotechnological and pharmaceutical companies.
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Global Biotechnology Market
• By Technology
o DNA Sequencing
o Tissue engineering and Regeneration
o Cell Based Assay
o PCR Technology
o Chromatography Market
• By Applications
o Food & Agriculture
o Natural Resources & Environment
o Industrial Processing
The above data will be provided for following regions/countries from 2013-2024 (USD Million)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
o South Africa
o Saudi Arabia
MAJOR TOC OF THE REPORT
Chapter One: Biotechnology Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Biotechnology Market Competition, by Players
Chapter Four: Global Biotechnology Market Size by Regions
Chapter Five: North America Biotechnology Revenue by Countries
Chapter Six: Europe Biotechnology Revenue by Countries
Chapter Seven: Asia-Pacific Biotechnology Revenue by Countries
Chapter Eight: South America Biotechnology Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Biotechnology by Countries
Chapter Ten: Global Biotechnology Market Segment by Type
Chapter Eleven: Global Biotechnology Market Segment by Application
Chapter Twelve: Global Biotechnology Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Biotechnology Market Report at: https://www.maximizemarketresearch.com/market-report/global-biotechnology-market/10844/
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
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