Biotechnology Market to Reach USD 1,029.09 Billion by 2027 – Reports and Data
The advancement in technology and development of therapies and diagnostic solutions is boosting the growth of the Biotechnology Market.
The global biotechnology market is forecasted to reach USD 1,029.09 Billion by 2027, according to a new report by Reports and Data. Increasing use of technology across several industries on account of its multiple advantages such as environmental friendliness, efficient production methods, new raw material chains, low waste generation, reduced manufacturing costs, and raw material consumption is anticipated to have a positive impact on the market over the next few years.
The growing trend of personalized medicines and the need to understand genetic variations is foster market growth. However, stringent regulations related to product approval will hamper market demand. Advancements in biotechnology have expanded in the different disciplines such as genetics, biochemistry, and molecular biology, among others. The market players are focusing on R&D activities to improve agriculture productivity by reducing the negative impact of certain factors such as pest attack, shortage of water, low yield, among others. Extensive application, coupled with the growing need for effective medication and treatment, will favor market demand. Improved healthcare facilities in emerging nations and the rising cost of R&D for biotechnology developments will impact the market revenue.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/3689
The COVID-19 impact:
The distribution of Covid-19's has influenced industrial activities worldwide. The virus led to the implementation of lockdown, which disrupted the workings of the economy while the healthcare sector witnessed a collapse in several countries. However, the biotechnology industry is witnessing a positive demand due to its application in the development of vaccines for COVID-19. Increased usage of technology for the development of advanced therapies will have a positive impact on the market.
Further key findings from the report suggest
- In October 2020, Sana Biotechnology, Inc., focused on the creation and delivery of engineered cells as medicines, announced the acquisition of Oscine Corp., a company developing potentially curative cell therapies for diseases of the central nervous system and brain.
- DNA sequencing plays a crucial role in mapping out the human genome and is an essential tool for several basic and applied research applications. DNA sequencing is also used in pharmacogenomics for the development of personalized medicine.
- The health segment accounted for a significant share due to the growing prevalence of chronic diseases associated with the growing demand for new drug development. The rising trend of personalized medicine and biosimilars will also influence market demand.
- The European market is growing due to the use of biomass as an efficient alternative to petroleum and is anticipated to have a positive impact on the environment, increase economic growth, and decrease prolonged dependence on petroleum imports, which in turn will drive the technology demand over the forecast period.
- Key participants include Gilead, AstraZeneca, Biogen, Celgene Corporation, Abbott, Novo Nordisk A/S, Amgen, Inc., Johnson & Johnson Services, Inc., Merck & Co, and Novartis AG, among others.
Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/3689
For the purpose of this report, Reports and Data has segmented into the Global Biotechnology Market on the basis of technology, application, and region:
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Tissue engineering and regeneration
- Cell-based Assays
- DNA Sequencing
- PCR technology
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Food and Agriculture
- Industrial Processing
- Natural resources & environment
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/3689
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
- North America
Explore Reports and Data's Prime Analysis of the global Healthcare & Pharmaceutical Industry:
Chromatography Accessories & Consumables Market Size, Share & Analysis, By Product (Columns, Autosamplers, Vials, Detectors, Fraction Collectors, Pressure Regulators), Technology (LC, GC), End-user (Pharma & Biotech, Hospitals, Clinics)-Global Forecasts To 2028
Microelectronic Medical Implants Market Size, Share & Analysis, By Product Type (Neurostimulators, Drug Infusion Pumps), By Application (Pacemakers, Defibrillators, Neurostimulators, Spinal Fusion Stimulators, Implantable Drug Pumps), And By Region, Forecast To 2028
Forensic Equipment and Supplies Market Size, Share & Analysis, By Product Type (Evidence-drying Cabinets, Reagents and Consumables, Low-temperature Storage Devices), By Instrument Type (Spectroscopy Equipment, DNA Analyzers, Laboratory Centrifuges, Forensic Cameras, Fingerprint Analyzers, Others), By Application (DNA Analysis, Blood Analysis, Toxicology, Biometrics, Others), By End-User (Independent Forensic Laboratories, Government Forensic Laboratories, Research Laboratories & Academic Institutes), And By Region, Forecast To 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
Read Full Press Release: https://www.reportsanddata.com/press-release/global-biotechnology-market