North America to Dominate the Global Biotechnology Market till 2026
High demand for organic products and
increasing prevalence of chronic diseases is expected to drive the demand for global
biotechnology market in the forecast period.
According to TechSci Research report, “Global
Biotechnology
Market By Technology (Nanobiotechnology, Tissue Engineering and
Regeneration, DNA Sequencing, Cell-based Assays, Fermentation, PCR Technology,
Chromatography, Others) By Application (Health, Food & Agriculture, Natural
Resources & Environment, Industrial Processing, Others) By End User
(Research Institutes & Laboratories, Academic Institutions, Biotechnology
& Pharmaceutical Companies, Others, By Region, Company Forecast & Opportunities,
2026”, The global biotechnology market is expected to witness steady growth
for the upcoming five years. Biotechnology is a technology and innovative field
involving the use of living organisms and biological systems and derivatives to
develop and modify process and results for producing therapeutics and products
relating to healthcare industry. Biotechnology finds application in diverse
field comprising of food and chemicals, pharmaceuticals, genomics, among
others. It has significant demand to upgrade the technology relating to
healthcare, food, and energy supply along with devise methods to ensure
environmental protection.
The COVID-19 outbreak across the world which has
been declared as pandemic by World Health Organization has affected countries
adversely. Leading authorities across the globe have imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Coronavirus affected patients started suffering from
shortness of breath along with coughing and sneezing. Leading authorities
increased the capacity of hospitals as a greater number of patients were
getting affected daily and getting admitted into the hospital facilities. Disruption
in supply chain was observed due to import-export restrictions which is
negatively affecting the growth of the market. Huge investments made in
biotechnology to devise ways to fight against the coronavirus created lucrative
opportunities for development of effective drugs, gene therapies and vaccines.
However, strict regulations and guidelines may slowdown
the commercialization of products which is expected to restrain the growth of
the biotechnology market.
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Global biotechnology market is segmented into technology,
application, end user, regional distribution, and company. Based on technology,
market can be further divided into nanobiotechnology, tissue engineering and
regeneration, DNA sequencing, cell-based assays, fermentation, PCR technology,
chromatography, and others. The fermentation segment is expected to hold major
market share for the forecast period, 2022-2026. Fermentation technology is
widely used in production of several healthcare related products comprising of antibiotics,
ethanol, probiotics, among others. It is also used for production of necessary
materials which are required to develop diagnostic kits, medical devices, and
drug delivery vehicles. Based on application, market can be fragmented into health,
food & agriculture, natural resources & environment, industrial
processing, and others. The health segment is expected to dominate the market
for the next five years owing to increasing prevalence of diseases and rise of
the old age population across the globe. Increase in demand for bio-services
and rise in adoption of bioinformatic solutions is further expected to surge
the growth of health segment.
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. are the
leading players operating in global biotechnology market. Manufacturers are
increasingly focusing on research and development process to fuel higher growth
in the market. To meet evolving customer demand with respect to better
efficiency and durability, several biotechnology manufacturers are coming up
with their technologically advanced offerings.
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“Technological
advancements in the field of life sciences and development of innovative
techniques such as 3D bioprinting technology which uses live cells to develop
certain part of human body such as cartilage, skin and heart valves is a
promising technology which is expected to fuel the use of biotechnology in
varied sectors. Incorporation of biosensors in healthcare industry to monitor
blood pressure, body temperature, among others is considered to be significant
driving factors. High demand for remote patient monitoring to provide ease and
convenience to patients without compromising the process of providing effective
treatment is expected to propel the growth of the biotechnology market until
2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Biotechnology Market By Technology (Nanobiotechnology, Tissue
Engineering and Regeneration, DNA Sequencing, Cell-based Assays, Fermentation,
PCR Technology, Chromatography, Others) By Application (Health, Food &
Agriculture, Natural Resources & Environment, Industrial Processing,
Others) By End User (Research Institutes & Laboratories, Academic
Institutions, Biotechnology & Pharmaceutical Companies, Others), By Region,
Company Forecast & Opportunities, 2026” has evaluated the future growth potential of global biotechnology
market and provided statistics & information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global biotechnology
market.
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