Biotechnology Market Size By Technology (Fermentation, Tissue Engineering and Regeneration, PCR Technology, Nanobiotechnology, Chromatograpgy, DNA Sequencing, Cell Based Assay), By Application (Biopharmacy, Bioservices, Bioagriculture, Bioindustrial), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, South Korea, Brazil, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: September 2016 | 86 Pages | Report ID: GMI784 Report Format: PDF
Biotechnology Market size was valued at over USD 330.3 billion in 2015 and will exceed USD 775.2 billion with 9.9% CAGR from 2016 to 2024.
U.S. Biotechnology Market Size, by Application, 2012- 2024 (USD Million)
Get more details on this report by requesting a free sample copy
Rising demand of new technologies such as DNA sequencing, recombinant technology, fermentation, tissue engineering will drive the biotechnology industry size. Growing food demand to meet the need of ever increasing population and scarce availability of nonrenewable natural resources will fuel global biotechnology market size.
Application of Genetic engineering and Genetic Modification (GM) processes to agricultural food products will stimulate business growth. Furthermore, decreasing prices of DNA sequencing technologies will encourage R&D activities to better understand genetic variations and develop therapeutic solutions.
Risks associated with GM organisms and crops and ethical issues associated with clinical trials should hamper business growth. Lack of complete understanding of Biosystems makes it difficult to predict nature of artificial organism born out of biotechnology based experiment and attracts criticism which may restrain biotechnology market size growth.
Biotechnology Market, By Product
Based on technology, the industry is segmented into tissue engineering and regeneration, fermentation, PCR, nanobiotechnology, chromatography, DNA sequencing and cell based assay. In 2015, the tissue engineering and regeneration segment accounted for highest revenue and was valued at over USD 104.5 billion. However, the nanobiotechnology, fermentation and cell based assay segments will experience lucrative growth owing to rising R&D initiatives by various biotechnological and pharmaceutical companies.
Capability expansion in areas of forensic diagnostics and forensic science should propel nonobiotechnology business. Cell based assay will also spur during forecast due to its application in cell testing and emerging micro fluid technologies.
Based on application, the industry is segmented in to biopharmacy, bioagriculture, bioservices and bioindustrial. Biopharmacy led the industry in 2015 with a revenue of over USD 199 billion owing to extensively useful products such as monoclonal antibodies, advanced drugs, recombinant proteins, growth hormones, recombinant human insulin and vaccines. Biopharmaceuticals are used in the treatment of several chronic diseases such as cancer, neurological, metabolic, cardiovascular and other rare diseases.
Bioservices segment will show a substantial growth during the forecast timeframe due to growing clinical research initiatives by various biotechnology and pharmaceutical industries.
Biotechnology Market, By Region
North America dominated the revenue share in 2015 with over USD 137.4 billion owing to growing R&D initiatives by key industry players and rising awareness among public and private research institute.
Europe biotechnology market share, along with APAC will show lucrative growth during the coming years due to growing public health and introduction of healthcare benefits by government agencies. The favorable regulatory scenario should propel industry growth in these regions.
Competitive Market Share
Major industry players are Abbott, Amgen, AstaZeneca, Biogen, Celgene, Genzyme, Johnson & Johnson, Pfizer, GlaxoSmithKline, Genentech, F. Hoffman La Roche, Novartis, Lonza and Sanofi.
Key strategies adopted by the companies to increase global biotechnology market share includes mergers and acquisitions, strategic collaborations, outsourcing R&D, and manufacturing activities. In 2015, Roche collaborated with Janus Biotherapeutics, a U.S. based biotechnology company to develop treatment for autoimmune disease, while Celgene acquired Quanticel, a biotechnology company to increase their focus on cancer drug discovery.
Biotechnology Industry Background
Presence of government organizations, such as the DBT (Department of Biotechnology) and other government sponsored institutions such as the NBTB (National Biotechnology Board) and other independent organizations working in the biotechnology are encouraging fundings to support R&D and product development initiatives relating to the field and will drive industry growth.
Rising need to understand chronic diseases at molecular level and develop novel therapeutic and diagnostic procedures will also motivate these organizations to fund in biotechnology sector.
Inadequate agricultural land, water scarcity, pest attacks and low production of crops are prompting researchers to develop groundbreaking agricultural technologies through extensive R&D activities. Growing demand for agricultural food products in countries such as U.S., China, and India is one of the main factors driving industry growth. Rise in prices related with natural non-renewable resource are encouraging researchers to develop biotechnology based products such as biochemical, biofuels, and bioenzymes.
What Information does this report contain?
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights?Comprehensive Research
- All-inclusive coverage
- In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
- Penetrative insights & latest trends
- Offers holistic understanding of the market
- Unique methodology
- Iterative in nature to eliminate errors
- Detailed methodology, scope, assumptions and data sources available for reference
- Committed to making a positive difference for our clients
- Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
- Every purchase comes with an option to obtain additional information:
- up to 10% of the original cost
- 45-minute analyst tele-call to obtain further clarity on the market.
- Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
- Only PCI-DSS compliant payment methods used for highest level of client data security
Connect with our sales team