Biotechnology Market to 2025 - Global Analysis and Forecasts by Technology (DNA Sequencing, Fermentation, Cell-Based Assay, Nanobiotechnology, Chromatography, PCR Technology, Tissue Engineering and Regeneration, and Other Technologies), and Application (Industrial Processing, Bioinformatics, Food & Agriculture, Health, Natural Resources & Environment, and Other Applications)
Publication Month: Sep 2018 | Report Code: TIPHE100001316 | No. of Pages: 141 | Category: Biotechnology | Status: Published
The biotechnology market size was estimated to reach US$ 471,336.40 million by 2025 from US$ 218,012.10 million in 2017; it is estimated to grow at a CAGR of 10.5% during 2017-2025.
Biotechnology connects cellular and biomolecular processes to develop technologies and products that help improve lives and health. Through modern biotechnology, outstanding product and technology innovations against severe and rare diseases is possible. It also reduces the environmental footprint, as it utilizes less and cleaner energy for safer, cleaner, and more efficient industrial manufacturing processes.
Growing biotechnology applications in healthcare and favorable government initiatives and collaborations with industry players have favored the biotechnology market growth. However, stringent government regulations for the approval of biotechnological products may hinder the growth of market.
Lucrative Regions for Biotechnology Market
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Market Insights
Increasing Innovative Technologies and Growing Initiatives by Private and Government Bodies Drives Biotechnology Market
The informatics experts and biologists are using newer sequencing technologies by aiming at making better genomes. The improving software technologies for piecing DNA together and increasing novel techniques for locating sequences on chromosomes have risen in recent years. To support the adoption of newer technologies with improved tools and techniques, several programs have been established. For instance, in 1989, the Genome Sequencing Program of the National Human Genome Research Institute (NHGRI) was established to address scientific opportunities for Genomics. The Genome Technology program also supports the development of novel technologies with improved methods and instruments that allow low-cost rapid determination of DNA sequence, functional genomics experiments, and SNP genotyping. The Genome Technology program also supports the technology transfer from developers to the users and helps in promoting collaborative multidisciplinary programs that are closely incorporated in industrial and academic laboratories. Moreover, many industry players have developed innovative NGS technologies (for instance, Pacific Biosciences with Sequel, and Oxford Nanopore with PromethION) in the last few years. These technological advancements are likely to promote the market in the near future.
The growing inventions and innovations in the sector have continued to accelerate worldwide. As a result, the biotechnology hubs have cropped up in niche cities of US, such as San Francisco, Raleigh, and Chicago, and regions such as Europe and Asia have taken several initiatives to improve the biotechnology sector in their countries. For instance, in September 2007, India announced their first National Biotechnology Development Strategy. Further, in 2015, the DBT announced the National Biotechnology Development Strategy-2015-2020, also referred to as Strategy-II. The strategy focuses on creating a strong infrastructure for research & development and helping in providing an enhancement to understand the new life processes and utilizing the advanced tools for humanity. For the technology development, the Department of Biotechnology creates a translation network across India with a partnership at a global level. This includes 5 novel clusters, 150 TTOs, 40 biotech incubators, and 20 bio-connect centers. The strategy focuses on investment in building the human capital by creating a Biotechnology Education Council and Life Sciences.
Technology-Based Insights
The global biotechnology market, based on technology, is segmented into DNA sequencing, fermentation, cell based assay, nanobiotechnology, chromatography, PCR technology, tissue engineering & regeneration, and other technologies. The DNA sequencing segment held the largest market in 2017 and is also anticipated to continue to hold the largest size in 2025. However, the nanotechnology segment was the fastest-growing segment in 2017.
Application-Based Insights
The global biotechnology market, based on application, is segmented into industrial processing/bioprocessing, food and agricultural, health, bioinformatics, natural resource and environment, and others. The industrial processing segment led the market for biotechnology in 2017. Moreover, the segment is expected to witness growth in its demand at thefastest CAGR during 2017–2025.
Strategic Insights
Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the biotechnology market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world. The biotechnology market share is anticipated to flourish with new innovative products by market players.
Company Profiles
- THERMO FISHER SCIENTIFIC INC.
- PERKINELMER INC.
- DANAHER
- QIAGEN
- AGILENT TECHNOLOGIES
- BD
- BIO-RAD LABORATORIES
- ILLUMINA, INC.
- MERCK KGAA
- F. HOFFMANN-LA ROCHE LTD.
Frequently Asked Questions
1. Thermo Fisher Scientific Inc.
2. Merck KGaA
3. PerkinElmer, Inc.
4. Agilent Technologies, Inc.
5. F. Hoffmann-La Roche Ltd.
6. Danaher
7. QIAGEN
8. BD
9. Bio-Rad Laboratories, Inc.
10. Illumina, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the biotechnology market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global biotechnology market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
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