Global Biotechnology Market Size & Share to Surpass $2772.7 Billion by 2030 | Vantage Market Research

WASHINGTON, May 22, 2023 (GLOBE NEWSWIRE) -- The Global Biotechnology Market is valued at USD 1094.6 Billion in 2022 and is projected to reach a value of USD 2772.7 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 14.2% over the forecast period 2023-2030.

Market Overview

The industry is being propelled by significant government support in the form of efforts to modernize the regulatory framework, improve approval processes and healthcare spending, and standardize clinical research. The expanding presence of personalized medicine and an increasing number of orphan drug formulations are opening new possibilities for biotechnological applications and driving the entry of young and creative Biotechnology firms, driving market revenue even higher.

We forecast that the nano Biotechnology in Biotechnology market sales will account for more than 27% of total sales by 2030. Nanotechnology's low toxicity, smaller footprint, and chemical adaptability have proven advantageous in overcoming the limitations associated with traditional routes of generic drug administration.

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Market Dynamics

Innovations and the Advent of Novel Technologies Support Market Expansion
By utilizing creative technologies, growing developments in life sciences are giving several benefits linked with healthcare interventions and productivity. The development of promising techniques and their use by businesses has a beneficial impact on the biotech industry and is projected to drive significant market growth. New medical technologies, such as 3D bioprinting, are being utilized. Living cells are used in 3D bioprinting to create human body parts such as heart valves, cartilage, and skin. It offers significant potential for creating medications, tissues, and organs such as the liver and heart from patient cells. By offering exact models for study and analysis, the ability to produce human cells and tissues would extend the spectrum of applications in medical research.

Increasing Medical Applications of Fermentation Technology Drive Market Growth.
Brewing technological improvements, among other things, are constantly being used to create monoclonal antibodies, therapeutic recombinant proteins and DNA, and anti-viral medications. Aside from pharmaceuticals, fermented technology is utilized to create materials needed for the creation of drug delivery vehicles, diagnostic kits, and medical devices. Furthermore, the growing use of bioethanol to lessen dependency on manufactured or petroleum-derived analogy because of ecological issues will drive the Biotechnology market.

Top Players in the Global Biotechnology Market

• Lonza (Switzerland)
• AstraZeneca (UK)
• Pfizer Inc. (New York, U.S.)
• Gilead Sciences Inc. (U.S.)
• F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
• Biogen (U.S.)
• CELGENE Corp. (U.S.)
• Sanofi (Paris)
• Abbott (U.S.)
• Novartis AG (Germany)

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Top Trends in the Global Biotechnology Market

• One trend that Vantage Market Research (VMR) expects to see in the Biotechnology industry is the Rising incidence of chronic diseases. The prevalence of chronic diseases has increased over time. As the middle class grows and industrialization grows, people become increasingly sedentary. Obesity rates are rising, as is the frequency of diseases such as diabetes, malaria, HIV, tuberculosis, and genetic anomalies. Moreover, a rise in the prevalence of oral disease and genetic anomalies, continuing technological advances in Polymerase Chain Reaction technologies, and higher investments, finance, and grants for scientific research are driving market revenue growth. The pharmaceutical sector aids in the prevention of chronic diseases. The biopharmaceutical sector focuses on tailored medicines. This will open the way for the development of personalized procedure medical requirements and aid in the treatment of some hereditary genetic illnesses.
  
  
• Another trend that VMR predicts will continue in the Biotechnology industry is its increasing trend of chromatography. Chromatography is the scientific principle of separating, identifying, and quantifying the various constituents of a sample. This is accomplished by changing the chemical from a stationary solid or liquid form to a mobile gas phase, then measuring the reaction. Because of its ability to detect the presence of molecular components such as micronutrients, nucleic acids, polysaccharides, lipids, and peptides, chromatography has become more important in Biotechnology. Starch granules, medicines, herbicides, chemicals, air and water samples, cell extracts, and other substances can all be analysed.
  
  

Top Report Findings

• Based on Application, most of the Biotechnology market's revenue is controlled by the Bio-Pharmacy category. The rising frequency of recurrent illnesses among Americans has prompted numerous private and public companies to develop novel medications and vaccines for diagnosis, benefiting segment growth. Furthermore, the introduction of the COVID-19 pandemic has prompted development in the pharmaceutical business, which has contributed to industry growth.
  
  
• Based on the Technology, most of the Biotechnology market's revenue is controlled by the Liquid category. due to increasing innovative pharmaceutical research combined with increasing opportunities by numerous business and government entities. Furthermore, nanotechnology opens new avenues for life-saving medical and cancer treatment. Research and development (R&D) expenditure is a critical component driving the growth of the nano-Biotechnology market. Over the projection period, the segment will be driven by rising requirement for treatments for important disorders.
  
  

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Recent Developments in the Global Biotechnology Market

• In 2021, Thermos Fischer Scientific agreed to pay USD 17.4 billion for Pharmaceutical Product Development, a clinical research business (PPD). This acquisition will assist the company in commercializing medicinal discoveries by increasing its investment in drug development and expanding its clinical research business.
• In 2021-Amgen has agreed to acquire Rodeo Therapeutics Corporation. (Rodeo). Rodeo is a biopharmaceutical business creating small-molecule therapeutics to help tissue regeneration and repair. Amgen can offer innovative biopharmaceutical medicines and restore its market position due to this purchase.

Nano-Biotechnology Category of the Technology Segment of the Global Biotechnology Market Anticipated to Contribute a Considerable Amount of the Global Segment in terms of Revenue
For better understanding, based on the Technology, the Biotechnology market is divided into Fermentation, Tissue Engineering and Regeneration, Polymerase Chain Reaction (PCR) Technology, Nano-Biotechnology, Chromatography, Deoxyribonucleic Acid (DNA) Sequencing, Cell-Based Assay, DNA Sequencing and Other Technologies.

The Nano-Biotechnology category was the largest market by the application during the projected period. Nanotechnology is becoming regarded as a remarkable technology that has transformed the food sector. Consumer concerns about food quality and health benefits motivate academics to develop a method to improve food quality while retaining the product's nutritional value. Because many nanoparticle-based products contain necessary nutrients and are non-toxic, the food sector has expanded its demand for them. They have also been found to be stable at high pressures and temperatures. Nanotechnology enables food manufacturing, processing, and packaging. Food quality and safety, as well as the health benefits provided by food, are significantly improved by nanomaterials. In the subject of food science, many organizations, researchers, and firms are creating novel nanotechnology-based approaches, procedures, and products.

On the other hand, the Tissue Engineering & Regeneration category is projected to grow significantly due to its capabilities to repair individuals' tissue and organ and technological advances. Furthermore, the increase in operating regenerative treatments due to rising overweight and disease rates in the general population will drive industry growth throughout the projection period.

North America Region of the Global Biotechnology Market Forecast to Generate Almost Half the Total Global Revenue
The North American region is anticipated to do so in the coming years. Many players increased red efforts, and high healthcare expenditure drive growth in the regional market. The region has a strong uptake of platforms based on genomics, proteomics, and cell biology, boosting the implementation of life sciences techniques. Furthermore, the rising incidence of long-term illnesses and the increasing acceptance of pharmacogenomics applications for managing life-threatening conditions will boost the market growth in the area.

The Asia Pacific regional market is projected to see the fastest growth in the Biotechnology market. Increased investments and improvements in health care, encouraging government initiatives, and growth strategies from leading market participants contribute to the regional industry's growth. The expansion of rising healthcare, clinical trial services, and favourable government laws are all factors in developing the Asia-Pacific Biotechnology industry. Furthermore, multinational currency traders are actively collaborating with local enterprises to drive the growth of the Biotechnology market.

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Biotechnology Market Forecast Report (2023-2030).             

Global Biotechnology Market Segmentation

By Application

• Bio-pharmacy
• Bio-industries
• Bio-services
• Bio-agriculture
• Bioinformatics
  
  

By Technology

• Fermentation
• Tissue Engineering & Regeneration
• Polymerase Chain Reaction (PCR) Technology
• Nano-Biotechnology
• Chromatography
• Deoxyribonucleic Acid (DNA) Sequencing
• Cell Based Assay
• DNA Sequencing
• Other Technologies
  
  

By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

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Scope of the Report:    

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