- Biotechnology is a science wherein organisms and living systems are utilized to produce valuable and new products. These products vary from seeds to medical products. The biotechnology market is likely to rise significantly through the forecast period. This is on account of supervisory back up provided to biotechnology firms. Moreover, escalating requirement for food in emergent nations has prompted further demand for the market.The global biotechnology market, analyzed as per its applications, was anticipated to have achieved around USD 216 billion in 2011.
For Market Research Report on “Biotechnology Market” Visit – http://www.grandviewresearch.com/industry-analysis/biotechnology-market
It is projected to grow to about USD 414 billion by 2017. The market is reported to expand at about 11.5 percent CAGR during 2012 to 2017. Easily put, biotechnology is centeredaround biology. It combines cellular and biomolecular procedures to introduce technologies and products that enhance our and earth’s health.Humans have been utilizing biotechnology for the past 6, 000 years.In cultivation, biotech products improve the nutritive quality and productivity of crops and also heighten the safety and effectiveness of pesticides.
In environmental science, biotech has introduced advanced solutions to clean ecology and take care of rubbish. The intensifying elderly populationand boosting life expectancy rates are also predicted to drive the sales of the biotechnology market. In addition to these, rising reliance on hereditarily-engineered seeds and augmented concentration on the introduction of efficient vaccines to fight illnesses are projected to steer further growth of the biotechnology market.
Apart from the aforementioned drivers, greater demand for orphan drug manufacturing is also estimated to stimulate further development of the market. The biotechnology market is divided on the basis of three categories. These are inclusive of applications, technologies and geographies.
The vital application sectors are bioindustrial;bioagricultural;bioservices; and biopharmacy. Accelerated demand for biotechnology across these sectors is said to propel the biotechnology market forward in the coming years. Biopharmacy leaded the market with respect to income in 2013. The sector occupied around 62 percent share.
Growing demand for vaccines and drugs that battle illnesses is one of the important factors, expanding the biopharmacysector in the biotechnology market. Bioservices followed biopharmacywith regard to income in 2013. They include clinical and preclinical trials which are executed in accordance tothe standards of governing organizations.
The vital technologies studied under the biotechnology market include regeneration PCR technology and tissue engineering; fermentation; chromatography;nanobiotechnology; cell based array; DNA sequencing; and others. The sector of regeneration PCR technology and tissue engineering leaded the market in relation to revenue in 2013. It garnered around USD 88 billion that year. This technology intends at developing body organs’ tissue counterpartswith the aim of substitution.
The key regionsunder analysis are North America, rest of the world, Europe and Asia Pacific. North America leaded the worldwide biotechnology market in 2013. The region was predicted to have a size of almost USD 113.5 billion that year. Europe followed North America and occupied the second spot with respect to revenue. The Asian Pacific biotechnology market is likely to display maximum growth (of more than 13 percent CAGR) through the forecast period.
Information Source: Grand View Research
To request a sample copy of this report, please complete the form below.
To purchase a copy of this report, please contact at
28 2nd Street, Suite 3036
San Francisco, CA 94105
Toll Free: 1-888-202-9519