Global Biotechnology Market Size, Trends & Growth Opportunity, By Technology (Fermentation, Tissue Engineering and Regeneration, PCR Technology, Nano-biotechnology, Chromatography, DNA Sequencing, Cell Based Assay, and others), By Application (Biopharmacy

Global Biotechnology Market, Size, Trends and Growth Opportunity, By Product Type (Instruments, Reagents And Services and Software), Technology (Nano Biotechnology, PCR Technology, DNA Sequencing, Chromatography, Tissue Engineering And Regeneration, Cell-Based Assays, Fermentation And Others), Application (Bio-pharmacy, Bio-industrial, Bio-services, Bioinformatics And Bio-agriculture), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Research Institutes And Others), Distribution Channel (Direct Tender, Third Party Distributors, And Others) – Industry Trends and Forecast to 2027.

Global Biotechnology Market

Global Biotechnology Market was valued at USD 1023.92 billion in 2022 and is slated to reach at USD 1099.16 billion by 2027 at a CAGR of 27.14% from 2022-2027.

Biotechnology is defined as the area of biology which uses living organisms and biological systems to develop or modify processes and products for specific use. Biotechnology deploys cellular processes and biomolecular processes and technologies for improvement of human life quality. Biotechnology widely used in medicine, agriculture and food industry.

Market Drivers

Increase in incidence of persistence conditions like cancer and diabetes is key driving factor which is expected to boost the global biotechnology market growth. Furthermore, organizations are focusing on development of novel techniques and their implementation by collaborating with other organizations such as Department of Biotechnology together with government funded institutions and other autonomous organizations representing the biotechnology industry to promote funding to support research and development and new drug development processes will positively contribute the market growth in near future. Moreover, increase in demand for food and agricultural products such as rice, beans, and wheat owing to growing population base various countries like U.S, India, and China is expected to drive the market growth.

Market Restraints

However, a risk associated with genetic information is the major restraining factor which is expected to hamper the global biotechnology market growth.

Impact of COVID-19

By expanding prospects and advancing medical discovery and vaccine production, the COVID-19 pandemic had a favourable effect on the world market. Moderna, Pfizer/BioNTech, and Johnson & Johnson vaccines are expected to generate a combined revenue of about USD 31 billion in 2021 as a result of the success of mRNA vaccines and faster approval procedures.

Recent Developments

Amgen and Rodeo Therapeutics Corporation have a deal in place for 2021. (Rodeo). A biopharmaceutical business called Rodeo creates small-molecule therapeutics to help with tissue regeneration and repair. Amgen will be able to offer cutting-edge biopharmaceutical products thanks to this acquisition, which will also help them regain market share.

Thermo Fischer Scientific agreed to purchase pharmaceutical product development, a clinical research firm, for USD 17.4 billion in 2021. (PPD). Through increased drug development spending and the expansion of its clinical research enterprise, this acquisition would assist the corporation in commercialising medicinal discoveries.

Market Segmentation

Global Biotechnology Market is segmented into technology such as Fermentation, Tissue Engineering and Regeneration, PCR Technology, Nano-biotechnology, Chromatography, DNA Sequencing, Cell Based Assay, and others. Further, market is segmented into application such as Biopharmacy, Bioservices, Bioagriculture, Bioindustries, and Bioinformatics.

Regional Analysis

Also, Global Biotechnology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market key Players

Various key players are discussed into this report such as Agilent Technologies, Thermo Fisher Scientific, Qiagen, PerkinElmer, Merck, Abbott Laboratories Illumina, F. Hoffmann-La Roche, Danaher, BioGen Medical Instruments,, and Bio-Rad Laboratories

Market Taxonomy

Product Type

• Instruments
• Reagents and Services
• Software

• Fermentation
• Tissue Engineering and Regeneration
• PCR Technology
• Nano-biotechnology
• Chromatography
• DNA Sequencing
• Cell Based Assay
• Others

• Biopharmacy
• Bioservices
• Bioagriculture
• Bioindustries
• Bioinformatics

• Direct Tender
• Third Party Distributors
• Others

• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations
• Academic and Research Institutes
• Others

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa