According to latest report study, the global Red Biotechnology market reached value at USD 357.9 Billion in 2021 and projected to hit over USD 609.8 billion by 2030.
According to latest report study, the global Red Biotechnology market reached value at USD 357.9 Billion in 2021 and projected to hit over USD 609.8 billion by 2030.
The global Red Biotechnology market growth is anticipated to expand at a CAGR of 5.11% from 2022 to 2030.
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Supporting sectors in the biotech industry, such as health services, are growing steadily. Investors are particularly interested in healthcare start-ups in the biotechnology field. Artificial intelligence (AI) is being used in various new ways. For instance, it has been used to progressively alter biotechnology research projects, as it helps reduce the cost and time taken to develop life-saving medications.
Stem cell research, which is one of the game-changing red biotechnology applications, is advancing at a heightened pace. It focuses on designing highly individualized therapies using a patient’s own cells. Similarly, genetic engineering involves altering a patient’s genetic makeup to find certain spots of interest. Steps are being taken to investigate and incorporate biotechnology into the development of individualized medical care. The implications of cloud-based technology, AI, and increasing focus on R&D have given businesses in the biotechnology sector a competitive edge.
Report Scope of the Red Biotechnology Market
| Report Coverage | Details |
| Market Size | USD 609.8 Billion by 2030 |
| Growth Rate | CAGR of 5.11% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Application, End-user and Region, |
| Companies Mentioned |
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Rise in Prevalence of Chronic Diseases Driving Global Red Biotechnology Market
The need for innovative drug molecules for effective disease treatment is expected to be driven by the increase in number of chronic and rare diseases globally. The WHO estimates that there are between 6,000 and 8,000 rare diseases, and over 80% of these are hereditary abnormalities. Hence, rise in incidence and prevalence of chronic and rare diseases and increase in need for diagnostics and treatments for quick and effective disease management are likely to drive the global red biotechnology market during the forecast period.
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Rapid Expansion of Bio-pharmaceutical Industry to Propel Global Market
Increase in R&D efforts, rise in number of patients suffering from diseases such as cancer, and rapid expansion of health care and pharmaceutical sectors in developed and emerging markets are projected to augment the global red biotechnology market during the forecast period. According to India Brand Equity Foundation, the country’s biotechnology sector, which includes bio-pharmaceuticals, bio-services, bio-agriculture, bio-industrial, and bioinformatics, is expected to advance at a CAGR of 30.2% to reach US$ 100.5 Bn by 2025.
Increase in Demand for Biologics and Technological Advancements to Fuel Biopharmaceutical Production Segment
In terms of application, the global red biotechnology market has been classified into biopharmaceutical production, gene therapy, pharmacogenomics, and genetic testing. The biopharmaceutical production segment is likely to account for major share of the global market during the forecast period. Increase in demand for biologics and technological advancements are projected to drive the segment in the next few years. Furthermore, rise in disease prevalence in emerging and developed markets, and increase in healthcare spending are expected to boost the biopharmaceutical production segment.
Surge in Demand for Biologics for Treatment of Chronic Illnesses Propelling Biopharmaceutical Industry Segment
Based on end-user, the global red biotechnology market has been divided into biopharmaceutical industry, CMO & CRO, research institutes, and others. The biopharmaceutical industry segment is expected to account for the major share of the global market during the forecast period. The segment is likely to be driven by the rise in demand for biologics in the treatment of chronic diseases and increase in clinical trial activities. Surge in adoption of expansion strategies by well-established players is also projected to augment the biopharmaceutical industry segment.
Regional Outlook of Global Red Biotechnology Market
North America dominated the global red biotechnology market in 2021, led by the increase in adoption of red biotechnology, new product approvals, rise in mergers & acquisitions, and surge in healthcare expenditure.
Asia Pacific is expected to offer lucrative opportunities to leading players in the red biotechnology market during the forecast period. Growth in product approvals from regional governing authorities, rise in number of CMOs & CROs, and surge in investment by large biopharmaceutical manufacturers are the major drivers anticipated to propel the red biotechnology market in Asia Pacific in the near future.
Europe also held vital share of the global market in 2021. The market in the region is expected to be driven by research activities, increase in patient population, expansion of the healthcare infrastructure, and rise in number of clinical studies and product approvals.
Analysis of Key Players in Global Red Biotechnology Market
The global red biotechnology market is fragmented, with significant presence of large-scale players. Leading players operating in the global red biotechnology market are Pfizer, Inc., Biogen, Inc., Amgen, Inc., AstraZeneca plc, Gilead Sciences, Inc., Celgene Corporation (Bristol-Myers Squibb Company), F. Hoffmann-La Roche, Ltd., Merck KGaA, Regeneron Pharmaceuticals, Inc., and Takeda Pharmaceutical Company Limited. These players are adopting growth strategies such as new product development, product launches, product approval, agreement, partnerships, and mergers to increase their market share.
Key Developments in Global Red Biotechnology Market
- On August 5, 2022, the U.S. FDA approved MYFEMBREE, a once-daily treatment for the management of moderate to severe pain associated with endometriosis. It is developed by Myovant Sciences and Pfizer. With a maximum treatment time of 24 months, MYFEMBREE provides an efficient once-daily therapy option for the control of moderate to severe endometriosis-related pain.
- On June 6, 2022, Amgen’s RIABNI (RITUXIMAB-ARRX), a biosimilar to RITUXAN (RITUXIMAB), received the FDA approval for adults with moderate to severe rheumatoid arthritis. Based on the totality of the evidence such as comparative analytical, non-clinical, and clinical data, RIABNI, a CD20-directed cytolytic antibody, was shown to be substantially comparable to Rituxan (rituximab), with no clinically relevant changes in safety or effectiveness.
Some of the prominent players in the Red Biotechnology Market include:
- Pfizer, Inc.
- Biogen, Inc.
- Amgen, Inc.
- AstraZeneca plc
- Gilead Sciences, Inc.
- Celgene Corporation (Bristol-Myers Squibb Company)
- F. Hoffmann-La Roche, Ltd.
- Merck KGaA
- Bruker
- Regeneron Pharmaceuticals, Inc.
- Takeda Pharmaceutical Company Limited
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Red Biotechnology market
- Application
- Biopharmaceutical Production
- Gene Therapy
- Pharmacogenomics
- Genetic Testing
- End-user
- Biopharmaceutical Industry
- CMO & CRO
- Research Institutes
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Red Biotechnology industry analysis from 2022 to 2030 to identify the prevailing Red Biotechnology industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Red Biotechnology industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Red Biotechnology industry trends, key players, market segments, application areas, and market growth strategies.
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