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Global Biotechnology Market – Industry Trends and Forecast to 2030

  • Healthcare
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Healthcare
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Biotechnology Market, By Product Type (Instruments, Reagents And Services and Software), Technology (Nano Biotechnology, PCR Technology, DNA Sequencing, Chromatography, Tissue Engineering And Regeneration, Cell-Based Assays, Fermentation And Others), Application (Bio-pharmacy, Bio-industrial, Bio-services, Bioinformatics And Bio-agriculture), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Research Institutes And Others), Distribution Channel (Direct Tender, Third Party Distributors, And Others) – Industry Trends and Forecast to 2030.

Biotechnology Market

Biotechnology Market Analysis and Size

The market is driven by strong government support through initiatives aimed atmodernizing the regulatory framework, improving approval processes and reimbursement policies, and standardizing clinical studies. The growing presence of personalized medicine and an increasing number of orphan drug formulations are opening new avenues for biotechnology applications and driving the influx of emerging and innovative biotechnology companies, further increasing market revenue.

Data Bridge Market Research analyses that the biotechnology market which was USD  1023.92 billion in 2022, is expected to reach USD 10129.16 billion by 2030, at a CAGR of 29% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Biotechnology Market Scope and Segmentation      

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Instruments, Reagents And Services and Software), Technology (Nano Biotechnology, PCR Technology, DNA Sequencing, Chromatography, Tissue Engineering And Regeneration, Cell-Based Assays, Fermentation And Others), Application (Bio-pharmacy, Bio-industrial, Bio-services, Bioinformatics And Bio-agriculture), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Research Institutes And Others), Distribution Channel (Direct Tender, Third Party Distributors, And Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Abbott (U.S.), Agilent Technologies Inc. (U.S.), Danaher (U.S.), BD (U.S.), Bio-Rad Laboratories Inc. (U.S.), General Electric (U.S.), BIOMÉRIEUX (France), Lonza (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Hoefer, Inc. (U.S.), PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Promega Corporation (U.S.), Quality Biological (U.S.), Siemens (Germany), Bio-Techne (U.S.), TAKARA HOLDINGS INC. (Japan), Sysmex Corporation (Japan), Tosoh Corporation (Japan), Ortho Clinical Diagnostics (U.S.), Olympus Corporation (Japan)

Market Opportunities

  • Collaborations and partnerships

Market Definition

Biotechnology is a technology that uses biological systems, living organisms, or parts of them to develop or create various products. Biotechnology has become simple due to technological advancements, as a growing number of key market players develop and launch new products to expand their market share. Furthermore, the emergence of COVID-19, which has increased demand for vaccine development, has fuelled the growth of the biotechnology market. As new technologies and software are developed in the healthcare sectors, tracking systems have evolved or become advanced in response to market demand.

Biotechnology Market Dynamics

Drivers

  • Innovations and advent of novel technologies

Growing advances in 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 has a positive impact on the biotech sector and is expected to spur significant market growth. Innovative technologies, such as 3D bioprinting, are being used in medicine. 3D bioprinting uses living cells to develop human body parts such as heart valves, cartilage, and skin. It has a high potential for developing drugs as well as tissues and organs such as the liver and heart using patient's body cells. The ability to create human cells and tissues will broaden the range of applications in medical research by providing precise models for study and analysis. These are the novel technologies which drive the market growth.

  • Increasing medical applications of fermentation technology

Fermentation technology advancements are increasingly being used in the production of monoclonal antibodies, therapeutic recombinant proteins and DNA, and anti-viral drugs, among other things. Aside from medications, fermentation technology is used to produce essential materials for the development of drug delivery vehicles, diagnostic kits, and medical devices. Furthermore, the increasing use of bioethanol due to environmental concerns to reduce reliance on synthetic or petroleum-derived counterparts will drive the biotechnology market.

Opportunities

  • Collaborations and partnerships

Collaborative efforts and partnerships aimed at developing and commercializing 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. Similarly, in September 2021, AstraZeneca and VaxEquity collaborated on developing and commercializing a self-amplifying RNA therapeutics platform to explore novel therapeutic programmes. Furthermore, rising biosimilar demand and precision medicine applications are expected to drive segment growth during the forecast period.

Restraints/Challenges

  • High Cost

The high cost of developing biotechnology reagents will undoubtedly limit market growth. Several 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, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the biotechnology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Biotechnology Market

The COVID-19 pandemic had a positive impact on the global market by increasing opportunities and advancements in drug development and vaccine manufacturing. For example, over 11 billion doses of the COVID-19 vaccine were produced globally in 2021, resulting in the vaccination of roughly half of the world's population within a year. Furthermore, the success of mRNA vaccines and accelerated approval processes have resulted in a surge in vaccine-related revenues, with Moderna, Pfizer/BioNTech, and Johnson & Johnson vaccines generating a combined revenue of around USD 31 billion in 2021. Rising demand for biotechnology tools for agricultural applications such as micropropagation, molecular breeding, tissue culturing, conventional plant breeding, and genetically modified crop development, among others, has also boosted market growth.

Recent Developments

  • In 2021, Thermo Fischer Scientific agreed to pay USD 17.4 billion to acquire clinical research organization Pharmaceutical Product Development (PPD). This acquisition would help the company commercialize drug discoveries by investing more in drug development and expand its clinical research business.
  • In 2021, Amgen agreed to buy Rodeo Therapeutics Corporation (Rodeo). Rodeo is a biopharmaceutical company that develops small-molecule therapies to aid in the regeneration and repair of specific tissues. This acquisition will enable Amgen to offer innovative biopharmaceutical products and reclaim its market position.

Global Biotechnology Market Scope

The biotechnology market is segmented on the basis of product type, technology, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Instruments
  • Reagents and Services
  • Software

 Technology

  • Nano Biotechnology
  • PCR Technology
  • DNA Sequencing
  • Chromatography
  • Tissue Engineering and Regeneration
  • Cell Based Assays
  • Fermentation
  • Others

 Application

  • Bio-pharmacy
  • Bio-industrial
  • Bio-services
  • Bioinformatics
  • Bio-agriculture

 End User

  • Pharmaceutical and Biotechnology Companies
  • Contract Research Organizations
  • Academic and Research Institutes
  • Others

Distribution Channel

  • Direct Tender
  • Third Party Distributors
  • Others

Biotechnology Market Regional Analysis/Insights

The biotechnology market is analyzed and market size insights and trends are provided by country, product type, technology, application, end user and distribution channel as referenced above.

The countries covered in the biotechnology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the biotechnology market because of increasing populace suffering from chronic disease. 

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to presence of highest number of biotechnology products providers.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The biotechnology market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for biotechnology market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the biotechnology market. The data is available for historic period 2011-2021.

Competitive Landscape and Biotechnology Market Share Analysis

The biotechnology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biotechnology market.

Some of the major players operating in the biotechnology market are:

  • Abbott (U.S.)
  • Agilent Technologies Inc. (U.S.)
  • Danaher (U.S.)
  • BD (U.S.)
  • Bio-Rad Laboratories Inc. (U.S.)
  • General Electric (U.S.)
  • bioMérieux SA (Frnace)
  • LONZA (Switzerland)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • Hoefer, Inc. (U.S.)
  • PerkinElmer Inc. (U.S.)
  • Merck KGaA (Germany)
  • Promega Corporation (U.S.)
  • Quality Biological (U.S.)
  • Siemens (Germany)
  • Bio-Techne (U.S.)
  • TAKARA HOLDINGS INC. (Japan)
  • Sysmex Corporation (Japan)
  • Tosoh Corporation (Japan)
  • Ortho Clinical Diagnostics (U.S.)
  • Olympus Corporation (Japan)


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Frequently Asked Questions

The Biotechnology Market is projected to grow at a CAGR of 29% during the forecast period by 2030.
The future market value of the Biotechnology Market is expected to reach USD 10129.16 billion by 2030.
The major players in the Biotechnology Market are Abbott (U.S.), Agilent Technologies Inc. (U.S.), Danaher (U.S.), BD (U.S.), Bio-Rad Laboratories Inc. (U.S.), General Electric (U.S.), BIOMÉRIEUX (France), Lonza (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), etc.
The countries covered in the Biotechnology Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, etc.