Global Biotechnology Market: 4 pivotal trends expected to augment the industry size through 2025
One of the recent developments in the biotechnology market comprises the development of a promising solution to the problem of unwanted genetic changes associated with CRISPR-Cas9. Developed by a team of researchers at the Tokyo Medical and Dental University and the Hiroshima University, the solution enables scientists to turn off gene-editing until the protein reaches prominent cell cycle phases which are the expected sites of more precise repairs.
Published on Communications Biology, this study devised a more accurate gene-editing process that represses unintended genetic mutations, deletions, or insertions called off-target effects. The research marks a significant milestone in the development of biotechnology processes as the previously developed methods could check fewer off-target effects while using the CRISPR technology, while exhibiting lower editing efficiency.
Such advancements contribute to underscoring the importance of biotechnology, in turn propelling the market growth. The global biotechnology market size is projected to surpass USD 775 billion by 2025, cites recent research by Global Market Insights, Inc.
The reduced cost of DNA sequencing on account of rising advancements in the field of genomics is one of the primary reasons responsible for this growth. A surge in the scarcity of natural resources is further likely to bolster industry expansion through the forthcoming years.
Prominent players in the biotechnology industry comprise Amgen Inc., Novo Nordisk, Novartis, Gilead Sciences, Sanofi Aventis, Abbott Laboratories, Biogen Idec, Inc., Johnson & Johnson, Lonza Group, and others. Rising number of research and development activities by these biotechnology majors is estimated to spur revenue growth over the estimated period.
Some major trends influencing global biotechnology market size include:
Escalating biofuel demand to boost bio-industrial segment growth
Surging demand for biofuels in the light of environmental concerns related to conventional fuels and higher prices of natural oil is touted to augment bio-industrial segment growth through the forecasted period.
The bio-industrial application is expected to witness commendable growth on account of the extensive usability of enhanced enzymes and micro-organisms in the chemical industry.
Bio-agriculture segment to contribute a remarkable share to the overall biotechnology market structure
Bio-agriculture segment is poised to hold a significant share in the overall biotechnology revenue owing to the increased requirement of various biotechnology products for sufficing the needs of the growing population. Increased profitability, as well as crop yield, are some of the advantages of genetically modified plants due to which the deployment of biotechnology processes is projected to gain remarkable importance through the ensuing years.
To access sample pages of this report titled, “Biotechnology Market Size By Application (Biopharmacy, Bioservices, Bioagriculture, Bioindustries, Bioinformatics), By Technology (Fermentation, Tissue Engineering and Regeneration, PCR Technology, Nanobiotechnology, Chromatography, DNA Sequencing, Cell Based Assay), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
Germany to bolster Europe biotechnology industry outlook
Europe biotechnology market is estimated to witness appreciable growth over the anticipated period. This is chiefly attributed to the increasing investments in research and development activities in both public and private biotechnology majors in Germany.
Surging demand for personalized medicines coupled with the early detection of diseases will further foster the growth of Germany market through the assessment span.
Rising prevalence of chronic diseases to augment tissue engineering and regeneration segment expansion
Surging prevalence of chronic diseases is likely to stimulate tissue engineering and regeneration segment growth as tissue engineering prominently focuses on the development of cures for various chronic diseases. Organ shortage coupled with the rising cost of organ transplant is likely to impel tissue engineering and regeneration segment growth through the estimated period.
On the whole, increasing demand for synthetic biology coupled with government initiatives promoting the utility of various biotechnology products will foster the growth of biotechnology sector through the coming years. Soaring demand for agro-based products will additionally stimulate global biotechnology market size over the analysis period.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.