/ Press Release Details /

Biotechnology Market Size Worth $721.6 Billion By 2025 | CAGR: 10.9%

The global biotechnology market is expected to grow at growth rate of 10.9% to reach USD 721.6 billion by 2025.

Biotechnology is defined as the use of living organisms or their products for the specific commercial purpose. Rising research & development activities coupled with favorable government initiatives to promote this field drive the market significantly during the study period. In addition, a significant decrease in pricing of DNA sequencing has increased the number of key players investing in this market further, augmenting the industry growth. For example, according to the National Human Genome Research Institute, the cost of genome sequencing has decreased significantly due to the Human Genome Project, and advancement in technologies. Additionally, demand for synthetic biology is also increasing especially in developed regions which provide a healthy platform for this market growth to great extent. On contrary, the high cost of biopharmaceuticals coupled with the strict regulatory environment has been acknowledged as a major restraining factor for this industry

Key Takeaways:

Tissue regeneration segment achieved the highest share, accounted for more than USD 75 billion in 2017. This segment refers to the method of combining biological active molecule with scaffold/cells into functional tissue
Biopharmacy accounted for the highest share which covers preventive and therapeutic medicines derived from naturally present living organisms with the use of recombinant DNA technology
Among the different applications, the bio-industrial segment is considered to be the lowest revenue generating application. It comprises the study of enzyme manufacturing products and marketing players.
North America and Europe collectively accounted for the maximum share of the global industry, more than 70% share. Increasing research and development activities coupled with growing demand for effective pharmaceuticals drive the regional growth
Asia Pacific region is pegged to register a 15.6% growth rate in terms of value.
Biogen, AstraZeneca, Abbott, Merck, and Novartis AG are some of the prominent players in this market

KEY BENEFITS OF THE REPORT:

In-depth analysis of the key market dynamics
Granular analysis of the current market scenario and expected factors to affect the market
Detailed analysis of the geographic region, regional and county wise analysis
Highlight on the strategies that are being adopted by the key players in this market to stay competitive
Extensive analysis of the key players dominating the market

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY TECHNOLOGY