Global Biotechnology Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Biotechnology Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Biotechnology is the use of biological processes, organisms, or systems to manufacture products intended to improve the quality of human life. The broad concept of biotechnology encompasses a wide range of procedures including genetic engineering, cell, and tissue culture technologies, nano-biotechnology and others. Red biotechnology is a branch of modern biotechnology which is utilized in the field of medicine.

Market Overview:

The latest research study on the global Biotechnology market finds that the global Biotechnology market reached a value of USD 519869.75 million in 2022. It’s expected that the market will achieve USD 827412.91 million by 2028, exhibiting a CAGR of 8.05% during the forecast period.

Influence of COVID-19 Outbreak on Biotechnology Industry Development

Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency.
COVID-19 is, first and foremost, a global humanitarian challenge. Thousands of health professionals are heroically battling the virus, putting their own lives at risk. Governments and industry are working together to understand and address the challenge, support victims and their families and communities, and search for treatments and a vaccine.
COVID-19 has seen a consistent case decline in countries that had experienced rapid case growth early (esp. China, South Korea). However, cases outside of Asia are growing dramatically, driven primarily by complexes in Europe, the United States, and the Middle East.
In addition to the direct damage it does to human health, COVID-19 is sure to have an enormous economic impact. During the epidemic, many countries promulgated social isolation policies and many factories closed or closed.
Global research and development and production of biotechnology products have been affected. The demand for products and services other than those related to respiratory diseases has decreased. During the epidemic, the global biotechnology industry was negatively affected.

Strength

The continuous improvement of medical infrastructure has driven the demand for these biotechnology services. Increasing incidence of chronic diseases such as diabetes and cancer will increase the market demand for biotechnology products.

Weakness

Increased risks related to the genetic data expected to hinder the growth of the biotechnology market.

Opportunities

Constantly launch new biotechnology products. The technological advancement of artificial intelligence and the combination of biotechnology and artificial intelligence are expected to promote progress in a potential way.

Threat

It may disrupt the balance of nature ’s ecosystems, resulting in reduced biodiversity.
May involve ethical risks.

Region Overview:

In 2022, the share of the Biotechnology market in North America stood at 41.74%.

Company Overview:

Amgen is one of the major players operating in the Biotechnology market, holding a share of 5.12% in 2023.

Amgen

Amgen Inc. is an American multinational biopharmaceutical company headquartered in Thousand Oaks, California. One of the world's largest independent biotechnology companies, Amgen was established in Thousand Oaks, California in 1980. Focused on molecular biology and biochemistry, its goal is to provide a healthcare business based on recombinant DNA technology.

Danaher

Gilead Sciences, Inc. is an American biopharmaceutical company headquartered in Foster City, California that researches, develops and commercializes drugs. The company focuses primarily on antiviral drugs used in the treatment of HIV, hepatitis B, hepatitis C, and influenza, including Harvoni and Sovaldi.

Segmentation Overview:

Among different product types, Nanobiotechnology segment is anticipated to contribute the largest market share in 2028.

Application Overview:

In the Biotechnology market, 62.4% of the total value was generated through the BioPharmacy segment by application in 2022.

Key Companies in the global Biotechnology market covered in Chapter 3:

Idexx Laboratories
Illumina
Alkermes
Actelion (Johnson & Johnson)
Ipsen
Jazz Pharmaceuticals
BioGen
Gilead Sciences
Vertex
Shire (Takeda Pharmaceutical)
Amgen
Celgene (Bristol-Myers Squibb)
Novozymes
BioMarin
United Therapeutics
Bio-Rad Laboratories
Qiagen
Regeneron
Alexion
Biocon

In Chapter 4 and Chapter 14.2, on the basis of types, the Biotechnology market from 2018 to 2029 is primarily split into:

Fermentation
Tissue Engineering and Regeneration
PCR Technology
Nanobiotechnology
Chromatography
DNA Sequencing
Cell Based Assay
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Biotechnology market from 2018 to 2029 covers:

BioPharmacy
BioServices
BioAgriculture
BioIndustrial
Bioinformatics

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)