Ultimate PDF on Biotechnology Market
According to our new research study on “Biotechnology Market Forecast to 2025 – Global Analysis – by Technology, Application, and Geography,” the market size is expected 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. The report highlights trends prevailing in the market and factors driving its growth. The biotechnology market growth is attributed to the growing applications of biotechnology in healthcare and favorable government initiatives along with collaborations with industry players. However, stringent government regulations for approval of biotechnological products may hinder the growth of market.
North America is the largest
market for biotechnology with the US holding the largest market share, followed
by Canada. The growth in North America is characterized by increase in the
demand of innovative products from biopharmaceutical and biotechnology
companies, presence of key market players and extensive R&D conducted by
various academic and research institutes. Moreover, increasing focus on
advanced method incorporation in healthcare, government and private initiatives
for promotion of precision medicine and massive funds from government and
private bodies for genomic research is expected stimulate the growth and
contribute to exceptional revenue generation for the biotechnology market in
North America. The medical and agricultural biotechnology has undergone
revolutions as a result of various development programs, business strategies
that helps produce, discover, or alter various biomolecules and organisms
through bioengineering approaches. The Biotech Startup Revolution has also
assisted to promote the new ventures holding promising and innovative ideas in
the country and supported in maximizing the revenue generation, and thus the
global economic position of North America in the global biotechnology market.
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Declining
Prices of Genome Sequencing Fueling Market Growth
In the recent years, genome
sequencing prices have declined substantially. The increasing advancements in
the genome sequencing lead to considerable reductions in the cost. The
underlying costs related to different strategies and innovative methods for
genome sequencing helps influence the scale and scope of genomic researches to
the expansion. In turn, significant studies have given their insights related
to genome-sequencing costs. In 2000, the cost of whole human genome sequencing
was over US$ 3.7 billion and it took 13 years for the completion. However,
it dropped down to US$ 10 million in 2006 and declined to US$ 5,000 in 2012,
and the process requires less number of days. Owing to factors such as advances
in the field of genomics, development in different methods and strategies for
sequencing, there is a notable decline in the cost of sequencing. Major market
players such as Illumina and Roche have introduced breakthrough technologies
that have enabled in the cost and time reduction in the sequencing.
Biotechnology
Market: Segmental Overview
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.
Biotechnology
Market: Competitive Landscape and Key Developments
Thermo Fisher Scientific INC.,
Perkinelmer INC., Danaher, QIAGEN, Agilent Technologies, BD, Bio-Rad
Laboratories, Illumina, INC., Merck KGAA, and F. Hoffmann-La Roche LTD. are
among the leading companies in the biotechnology market. The biotechnology
market share is anticipated to flourish with the development of new innovative
products by market players.
- In January 2018, Illumina, Inc. and
KingMed Diagnostics signed an agreement to jointly develop the
next-generation sequencing technology for Chinese FDA Approval.
- March 2018, QIAGEN and Natera, Inc.
together signed a partnership to develop cutting-edge cell-free DNA assays
for use on QIAGEN’s GeneReader NGS System.
- In January 2018, Illumina, Inc.
introduced Seq 100 Sequencing System that delivers exceptional data
accuracy at a low capital cost.
- In January 2018, QIAGEN
acquired STAT-Dx to launch a next-generation, fully integrated multiplex
platform for syndromic disease testing.
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