Insights on the $627+ Billion Biotechnology Global Market to 2026 – Key Drivers and Challenges – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Biotechnology Market, By Application (Bio-Pharmaceuticals, Bio-IT, Bio- Industrial, Bio-Agriculture), By End User (Biotechnology & Pharmaceutical Companies, Academic Institutions, Others), By Region, Competition Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
The Global Biotechnology Market stood at $627.63 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.
Companies Mentioned
- 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.
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 the 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 the Global Biotechnology Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Biotechnology Market.
- To identify and analyze the profile of leading players operating in the Global Biotechnology Market.
- To identify key sustainable strategies adopted by market players in the Global Biotechnology Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Biotechnology Market
4. Executive Summary
5. Global Biotechnology Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Application (Bio-Pharmaceuticals, Bio-IT, Bio- Industrial, Bio-Agriculture)
5.2.2. By End User (Biotechnology & Pharmaceutical Companies, Research Institutes & Laboratories, Academic Institutions, Others)
5.2.3. By Region
5.2.4. By Company (2020)
5.3. Product Market Map
6. North America Biotechnology Market Outlook
7. Europe Biotechnology Market Outlook
8. Asia-Pacific Biotechnology Market Outlook
9. South America Biotechnology Market Outlook
10. Middle East and Africa Biotechnology Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
14. Strategic Recommendations
15. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/nkx0oj
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