Biotechnology Market 2021
Recent changes, segmented data and analysis of business operations data by 2027
The volume of the global biotechnology market is estimated to grow from 505.2 billion US dollars in 2020 to 762.4 billion US dollars in 2027, with an average annual growth rate of 7.1% during the forecast period (2021-2027). The increase in artificial intelligence in the biotechnology industry is making a significant breakthrough in the technological field. The biotechnology industry is also engaged in the modification of food products and pharmacies. These factors will increase the global biotechnology market during the forecast period.
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Factors affecting the biotechnology industry in the forecast period:
- It is expected that the growing demand for biotechnological solutions for patients with diabetes and cancer will stimulate the growth of biotechnologies in the market.
- The treatment of new types of disorders and diseases has forced the biotechnology industry to improve the accuracy of solutions.
- The collection of genetic data is one of the main challenges faced by companies in the biotechnology market.
- People usually deny the use of the product and are forced to follow strict rules and regulations related to the registration of products that limit the growth and entry of new players into the biotechnology market.
The impact of COVID-19 on the biotechnology market:
During the first quarter of 2020, the impact of the pandemic on the biotechnology market was relatively low. The COVID-19 outbreak has led to a rapid increase in demand for biotechnology in several areas, mainly in healthcare and industry. Thus, with the outbreak of COVID-19, there is a significant increase in demand for biotechnologies worldwide, which has positively affected the value of the biotechnology market in 2020 and subsequent years. The biotechnology industry is a strategic asset for the country and the world.
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The report describes a study of the global biotechnology market based on technologies and applications.
Depending on the technology , the biotechnology market was divided into:
- DNA sequencing
- Tissue engineering and regeneration
- Cell analysis
- Based on the application, the biotechnology market was divided into closed platforms.
- Bio pharmacy
- Bio services
- Bio agriculture
- Biotechnology market: regional overview
Depending on the region, the global biotechnology market was divided into five geographical regions, namely: North America, Asia-Pacific, Europe, South America, the Middle East and Africa. In 2020, the largest share of the biotechnology market belonged to North America, followed by Europe and the Asia-Pacific region. It is estimated that the Asia-Pacific region will occupy a significant share of the global biotechnology market during the forecast period due to increased spending in the health sector. Moreover, Europe is expected to have the highest average annual growth rate during the forecast period.
The main competitors in the global biotechnology market
The global biotechnology market is highly fragmented, with a large number of small players around the world. The main producers of biotechnologies operating on the world market:
- Egilent Technologies,
- BioGen Medical Instruments
- F. Hoffmann-La Roche
- Abbott Laboratories Illuminati,
- Qiagen and Thermo Fisher Scientific
- Bio-Rad laboratories.
The Biotechnology Market Report contains a thorough analysis of macroeconomic factors and the market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of segment/regional prospects, taking into account the presence of market players in the relevant segment and region/country. The information contained in the report includes input data.
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The Biotechnology Market report includes a comprehensive analysis:
- Market segmentation and regional analysis
- Market size 10 years
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter's Five Forces and Value Chain Analysis
- Analysis of developed and developing countries
- PEST analysis
- Market and forecast factor analysis
- Market opportunities, risks and trends
- Conclusion and recommendation
- Regulatory landscape
- Patent analysis
- Competition landscape
- 15+ company profiles
Regional analysis of the biotechnology market includes:
- North America (USA, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, rest of Latin America)
- Europe (Germany, Italy, France, Great Britain, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, other European countries)
- Asia-Pacific region (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, other countries of the Asia-Pacific region)
- Middle East and Africa (Saudi Arabia, UAE, South Africa, North Africa, the rest of the Middle East and Africa
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