Biotechnology Market Size, Share, Trends, Growth, and Industry Analysis, By Application (Bio-pharmacy, Bio-industries, Bio-services, Bio-agriculture, and Bio-informatics) By Technology (Fermentation, Tissue Engineering and Regeneration, Polymerase Chain Reaction (PCR) Technology), Regional Insights and Forecast to 2032
global biotechnology market size was USD 993.87 billion in 2022 and is predicted to reach USD 1983.52 billion in 2031, exhibiting at a CAGR of 9.7% during the forecast period.
The market is driven by strong government support through initiatives aimed at modernization of the regulatory framework, improvements in approval processes and reimbursement policies, as well as standardization of clinical studies. The growing foothold of personalised medicine and an increasing number of orphan drug formulations are opening new avenues for biotechnology applications and are driving the influx of emerging and innovative biotechnology companies, further boosting market revenue.
Global Biotechnology Market: Growth
The biotechnology market makes use of living organisms, specifically organisms and microbes, to develop a variety of solutions that benefit humans. It is a synthesis of numerous techniques used on live cells, encompassing not just biology but also arithmetic, biochemistry, and engineering. The outbreak of the COVID-19 pandemic is expected to have a long effect on the industry. Increasing investment in research for the development of vaccines and drugs by several biotech businesses has increased the industry's growth.
Increasing awareness regarding the broad applications of these technologies, such as human and animal nutrition, environmental protection, drug development, and agricultural improvements, is expected to drive the biotechnology market's growth over the forecast period. Furthermore, the COVID-19 outbreak has prompted several organisations to invest in the research and development of novel drugs for the future crisis, which in turn is expected to drive the biotechnology market's growth over the forecast period. Additionally, increasing demand for organic agricultural goods, increased use of biotechnology in clinical trials, and the creation of more effective, nutritious, and long-lasting hybrid plants and animals are expected to fuel the biotechnology market's expansion.
REPORT SCOPE & SEGMENTATION:
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Report Attribute |
Details |
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Projected Market Value (2031) |
1,983.52 billion |
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Estimated Market Value (2022) |
993.87 billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Technology, Region |
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Segments Covered |
By Technology, By Application and Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Biotechnology Market Dynamics
Global Biotechnology Market: Drivers
Growing advances in the life sciences are providing numerous benefits associated with healthcare interventions and productivity by incorporating innovative technology. The development of innovative techniques and their implementation by firms have a positive impact on the biotech sector and are expected to spur significant market growth. Innovative technologies, such as 3D bioprinting, are being used in the medicine. 3D bioprinting uses living cells to develop human body parts such as heart valves, cartilage, and skin, etc. It has a high potential for developing drugs as well as tissues and organs such as the liver and heart using the patient's body cells. The ability to create human cells and tissues will broaden the range of applications in medical research by providing models for study and analysis.
The biopharmaceutical industry is concentrating on developing personalised treatments. This will pave the way for the development of personalised procedural healthcare requirements as well as aid in the treatment of some hereditary genetic diseases. Additionally, fresh concepts are being introduced to the market, such as cell therapy, which has the potential to treat cancer efficiently.
Global Biotechnology Market: Restraint
The high cost of developing biotechnology reagents will undoubtedly limit market growths. Market players make large investments in installing new and advanced machines to speed up the process, which raises the cost. This biotechnology market report provides details of new recent developments, trade regulations, production analysis, value chain optimization, import-export analysis, market share, and the impact of domestic and localised market players. It also examines opportunities in the market in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application and dominance, product approvals, product launches, geographic expansions, and technological innovations. To gain more information on the biotechnology market, contact Data Bridge Market Research for an analyst brief. Our team will help you make a market decision to achieve market growth.
Global Biotechnology Market: Opportunities
Collaborative efforts and partnerships aimed at developing and commercialising new therapeutic platforms and molecules are expected to drive market growth. For example, in January 2021, Novartis collaborated with Alnylam to investigate the application of the latter's siRNA technology for the development of targeted therapy for the restoration of liver function. In September 2021, AstraZeneca and VaxEquity collaborated on developing and commercialising a self-amplifying RNA therapeutics platform to explore novel therapeutic programs. Furthermore, rising biosimilar demand and precision medicine applications are expected to drive segment growth during the forecast period.
Global Biotechnology Market: Insight by Technology
The tissue engineering and regeneration segment held a strong share of the market in 2021 and is expected to grow considerably over the forecast period due to its advantages of regenerating patients' tissue and organs and the advancement of technology. Furthermore, the rise in the use of operational regenerative treatments due to increasing cases of obesity and diabetes among the population is expected to boost the industry's growth over the forecast period. The nanobiotechnology segment is expected to grow at a significant pace over the forecast period due to increasing novel drug discovery and rising investment by several private and government organizations. Furthermore, nanotechnology opens up new avenues for life-saving medical and cancer treatment.
Global Biotechnology Market : Insight by Application
Based on application, the biotechnology market has been segmented into food & agriculture, industrial processing, health, natural resources & environment, bioinformatics, and others. The health segment accounted for the largest revenue share in 2022. In healthcare, "biotechnology" refers to a diagnostic product or vaccination that is made out of living organisms and can be made using technology. The technology meets the requirements of patients and their families since it has acquired immune deficiency syndrome through the integration of medicine and diagnostics, as well as gene therapy and tissue engineering. The technology enables new therapeutic and diagnostic treatments for chronic diseases that are unique, targeted, and personalized.
The biopharma segment is expected to grow significantly over the forecast period. The increasing prevalence of chronic diseases among the population has led several private and public businesses to introduce novel drugs and vaccines for the treatment, which in turn has benefited the segment's growth. Furthermore, the emergence of the COVID-19 pandemic has triggered investment in the pharmaceutical industry, contributing to industry expansion.
Global Biotechnology Market: Regional Analysis
North America dominated the global market in 2022 and is expected to maintain its dominance over the forecast period due to increasing investment in research and development. Furthermore, the presence of major industry key players in the region, as well as growing awareness of biotechnology applications, are expected to fuel this trend.
The Asia Pacific market is expected to grow at a considerable pace over the forecast period, owing to increasing investment in research and development and the growing healthcare infrastructure. For instance, the Central Council for Research in Siddha (CCRS) launched ARIVU in August 2021, a programme to encourage academics and businesses to conduct research to develop the value chain in the biotechnology and nanotechnology markets.
Global Biotechnology Market: Competitive Landscape
The competitive landscape of the global biotechnology market is moderately consolidated, with a few major companies operating on global and regional levels. Major companies are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footprint in the global biotechnology market. Some major companies in the market report include:
Global Biotechnology Market: Recent Development
Global Biotechnology Market: Segmentations
By Technology Outlook
By Application Outlook
Global Biotechnology Market: Regional Outlook
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
