Biotechnology Market: Global Industry Share, Top Key Players, Regional Study, Upcoming Trends and Growth Segments 2027

The growth of the biotechnology sector in developing countries like India and China, there market is being driven by favorable government initiatives. Government activities are aimed at modernizing the medication regulatory system, standardizing clinical trials, enhancing reimbursement rules, and expediting the product approval process, all of which promise attractive development potential. Small molecules dominated the pharmaceutical compounds pipeline with around 22 U.S. FDA approvals as compared to eight large molecules (biotech). Around 4 out of every 10 drugs are biotech derived, which can be attributed to the growing demand for orphan drugs and personalized medicine.

Moreover, agricultural companies are concentrating their efforts on bringing agricultural innovations to market in order to boost production through long-term solutions. For example, BASF said in February 2020 that by 2029, it will have launched more than 30 initiatives aimed at producing novel seeds, traits, biological and chemical crop protection solutions, new formulations, and digital products.

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The COVID-19 pandemic has boosted the market of biotechnology despite of the disruption in the supply chains worldwide. Biotech companies are at the forefront of the development of COVID-19-targeting medications. For instance, Gilead Sciences, Inc. got FDA approval for antiviral Remdesivir for the treatment of COVID-19 patients just 8 months after the first case. Despite of the disruption in supply chain and distribution due COVID-19 outbreak there has been a substantial increase in investments in the biotech sector owing to the provision of safety against SARS-CoV-2 virus. As the growing interest in biotech companies was witnessed after the COVID-19 pandemic outbreak, investors invested more than USD 13 billion in biotechnology companies, in 2020 globally. It gave opportunities for variousf novel scientific activities, especially in biotechnology. Extensive investments in the industry accelerated development of innovative new drugs, gene therapies and vaccines in essential therapeutic areas.

According to UnivDatos Market Insights (UMI)’ research report “Global Biotechnology Market Analysis, 2020”, the Global Biotechnology market is projected to grow at a CAGR of XX% during 2021-27F. A rise in demand for novel gene therapies, including DNA sequencing for better treatment outcomes due to increased prevalence of chronic diseases is one of the prominent reason which is driving the market of the Biotechnology. For Instance: According to the WHO's 2018 report, cancer was the second biggest cause of death worldwide in 2018, with 9.6 million deaths estimated. The industry will develop thanks to a wide range of uses and rising demand for vaccinations and efficient treatments.

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Based on the Technology, the nanotechnology segment acquired the major market share and grabbed US$ XX Bn revenue from the biotechnology market in 2020. Continuous advancements and wide range of applications is boosting the growth of video monitoring.

Bio-agriculture to Witness Robust growth

Based on the application, bio-agriculture grabbed XX% revenue share in 2020. The market size of this segment touched US$ XX Billion in 2020. The market share of the segment is expected to maintain its dominance in the forthcoming years as well owing to the growing demand for food with increasing population and rising adoption of Genetically Modified (GM) crops. As per Statista, the United States had the largest area of genetically modified crops worldwide in 2019, at 71.5 million hectares, followed by Brazil with around 52.8 million hectares.

North America to Grab Lion’s Share, Bit Europe to witness Explicit Growth

Based on the Region, North America dominated the Global Biotechnology market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the growing number of businesses operating in the region are gaining drug approvals. For instance, in February 2021, Biogen Inc. received the U.S. FDA for PLEGRIDY (peginterferon beta-1a) that is used for the treatment of relapsing forms of multiple sclerosis. However, Asia-Pacific is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Biotechnology Market Analysis, 2020”.?

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Biotechnology market are Abbott Laboratories, Amgen, Bio-Rad Laboratories, Danaher, F. Hoffmann-La Roche, Illumina, Merck, PerkinElmer, Qiagen, and Thermo Fisher Scientific. among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:

§?In 2021, Pharmaceutical Product Development (PPD), a clinical research business, has agreed to be acquired by Thermo Fischer Scientific for USD 17.4 billion. This acquisition would help the company commercialise medicinal discoveries by increasing investment in drug development, as well as expand its clinical research business

§?In 2020, Rodeo Therapeutics Corporation (Rodeo) has agreed to be acquired by Amgen. Rodeo is a biopharmaceutical business focused on the development of small-molecule therapeutics to help with tissue regeneration and repair.

§?PLEGRIDY (peginterferon beta-1a) is a drug developed by Biogen Inc. for the treatment of relapsing types of multiple sclerosis in 2020

§?In 2020, F. Hoffmann-La Roche Ltd. has finalised the acquisition of Inflazome, an Irish biotech company focused on inflammasome inhibitor development

“Global Biotechnology Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Biotechnology providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.??????

?Market Segmentation:

1.?????By Technology (Nanobiotechnology, tissue engineering & regeneration, DNA sequencing, cell-based assays, fermentation, PCR technology, chromatography, others)

2.?????By Application (Bio-pharmacy, bio-services, bio-agriculture, bio-industrial, bioinformatics)

3.?????By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.?????By Company (Abbott Laboratories, Amgen, Bio-Rad Laboratories, Danaher, F. Hoffmann-La Roche, Illumina, Merck, PerkinElmer, Qiagen, and Thermo Fisher Scientific, etc.)

Key questions answered in the study:

1.?????What are the current and future trends of the Global Biotechnology industry?

2.?????How the industry has been evolving in terms of technology and application areas?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the Biotechnology industry?

5.?????What are the customer orientation, purchase behavior, and expectations from the Biotechnology firms across various regions??