Global Biotechnology Market, By Application (Bio-Pharmaceuticals, Bio-IT, Bio- Industrial, Bio-Agriculture), By End User (Biotechnology & Pharmaceutical Companies, Research Institutes & Laboratories, Academic Institutions, Others), By Region, Competition Forecast & Opportunities, 2026
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Biotechnology Market, By Application, By End User, By Region, Competition Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06130383/?utm_source=GNW
Global biotechnology market stood at USD627.63 billion in 2020 and is expected to grow at a CAGR of 8.57% during the forecast period. The growth can be ascribed to the growing demand for biotechnology applications and products across various end user industries including food, agriculture, healthcare, among others. Additionally, growing investments in the field of biotechnology as well as increasing demand for synthetic biology are further expected to spur the market growth over the next few years. Furthermore, the sudden outbreak and spread of the COVID-19 pandemic has increased the demand for biotechnology products such as vaccines, diagnostic tests, drugs, among others; thereby positively impacting the market growth. Besides, technological advancements and adoption & intersection of technologies such as Artificial Intelligence, Big Data Analytics, among others in the field of biotechnology is further expected to create lucrative opportunities for the growth over the next few years.
The global biotechnology market can be segmented based on application, end user, region and company.Based on application, the market can be categorized into bio-pharmaceuticals, bio-IT, bio-industrial and bio-agriculture.
The bio-pharmaceuticals application segment is expected to dominate the market in 2020 with an overall market share of around 34.43%. This can be ascribed to the growing prevalence of different chronic and infectious diseases which require novel drugs for treatment. Furthermore, growing focus on the development of regenerative medicine coupled with increasing pharmaceutical expenditure across globe is further expected to support the segmental growth.
Regionally, North America dominated the market in 2020 and is expected to continue its dominance over the forecast period on account of high healthcare and R&D expenditure.Additionally, growing awareness and adoption pertaining to biotechnology and its applications and use in the region is further expected to boost the market growth.
Also, the presence of major market players in the region is expected to further support the market growth. The companies operating in the region are launching advanced solutions to cater to the needs of the biotechnology industry.
Major companies operating in the global biotechnology market include Novo Nordisk A/S,
Regeneron Pharmaceuticals Inc., Amgen, Inc., CSL Limited, Gilead Sciences, Inc., Celgene Corporation, Allergan, Inc., Biogen Inc., Vertex Pharmaceuticals, Inc., F. Hoffmann-La Roche AG, Seagen Inc., Genmab A/S, Biocon Limited, Johnson & Johnson, Pfizer Inc., among others. The companies operating in the market are adopting various strategies like mergers & acquisitions, new product launches, new technology developments and investing in small start-up-companies in order to stay competitive in the market. For instance, in September 2020, F. Hoffmann-La Roche Ltd. completed the acquisition of Inflazome. Inflazome is an Irish biotechnology company which is involved in the development of inflammasome inhibitors. With this acquisition all the products of Inflazome will be added to the product portfolio of Roche. Also, in February 2021, Biogen Inc. received the U.S. FDA approval for PLEGRIDY (peginterferon beta-1a) that is used for the treatment of relapsing forms of multiple sclerosis. This approval will help the company expand its portfolio for multiple sclerosis treatments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
• To analyze the historical growth in the market size of the global biotechnology market from 2016 to 2020.
• To estimate and forecast the market size of the global biotechnology market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global biotechnology market based on application, end user, regional distribution, and company.
• To identify dominant region or segment in the global biotechnology market.
• To identify drivers and challenges for global biotechnology market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global biotechnology market.
• To identify and analyze the profile of leading players operating in global biotechnology market.
• To identify key sustainable strategies adopted by market players in global biotechnology market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers who could not be identified due to the limitations of secondary research. The analyst examined the service providers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global biotechnology market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Biotechnology companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to biotechnology market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, End User, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global biotechnology market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Biotechnology Market, By Application:
o Bio- Industrial
• Global Biotechnology Market, By End User:
o Biotechnology & Pharmaceutical Companies
o Research Institutes & Laboratories
o Academic Institutions
• Global Biotechnology Market, By Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global biotechnology market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06130383/?utm_source=GNW
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