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Global Biotechnology Market by Top Competitors Analysis: Merck, Thermo Fisher Scientific, Abbott Laboratories, Danaher, Illumina, Agilent Technologies, Amgen, PerkinElmer, Qiagen

04-25-2019 11:44 AM CET | Health & Medicine

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Biotechnology Market

Biotechnology Market

Market Study Report LLC adds 2019-2024 Global Biotechnology market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

U.S. biotechnology market in 2017 accounted for 72.0% revenue share of North America region owing to increasing adoption of innovative technologies and presence of favorable government initiatives. Furthermore, advanced healthcare infrastructure and rising R&D spending should further spur revenue size. As per World Bank Data 2015, the R&D expenditure of the country was 2.79% of GDP, that is comparatively higher than other countries that should drive biotechnology market.

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The global biotechnology market is estimated to amass sizeable gains over the coming years primarily owing to the rapidly growing prevalence of chronic diseases as well as advancements in DNA sequencing. Biotechnology plays a significant role in the treatment of chronic diseases, the robust prevalence of which will majorly propel biotechnology market.

Biotechnology Market will exceed USD 775 billion by 2024; as per a new research report. Rising prevalence of chronic diseases coupled with increasing fundings to support R&D and product development initiatives in biotechnology field will drive industry growth in upcoming years. In addition, escalating disease prevalence results in increasing demand for innovative technologies including DNA sequencing, recombinant technology, fermentation, tissue engineering for diagnosis and treatment of these disorders thereby, fostering business growth.

As per claims by the International Diabetes Federation around 425 million adults between 20 to 79 years were living with diabetes in the year 2017 and the number of diabetes patients is expected increase to 629 million by 2045. Moreover, the condition led to nearly 4 million deaths in 2017 and incurred a sum of about $727 billion in health expenditure. Besides diabetes, cancer is another deadly health condition that claims millions of lives each year. According to the World Health Foundation, in Nigeria about 41,000 people died due to cancer out of an estimated 166,000 new cases recorded in the country last year. The rise in the incidences of chronic conditions will thus add significant momentum to the global biotechnology market.

DNA sequencing segment will witness 13.7% CAGR by 2024. The segmental growth is attributed to increasing adoption of DNA sequencing techniques in medical research for detection of genes associated with some hereditary disorders. Furthermore, rising focus of researchers and manufacturers for increasing R&D initiatives targeted at understanding genetic variations and developing therapeutic solutions for chronic diseases will favor segmental growth during projected timeframe.

Rapid population growth has hampered various naturally available non-renewable resources. Scientists are therefore, focusing on development of products including bio enzymes and biofuel that will drive biotechnology market growth. Moreover, R&D expenditure by research institutes and biopharmaceutical industry players for drug and vaccine development is also a contributing factor for business growth. Furthermore, organizations including National Biotechnology Board (NTBT) and Department of Biotechnology (DBT) provide funding to promote biotechnology industry growth.

Bioservices segment was valued at USD 88.8 billion in 2017 and is projected to grow significantly over the forecast timeframe. Bioservices segment will show substantial growth during forecast timeframe due to increasing clinical research initiatives by various biotechnology and pharmaceutical industries. Moreover, growing prevalence of chronic diseases, rising demand for personalized medicines and increased government fundings are major impact rendering factors on segmental growth.

China biotechnology market was valued at USD 29.7 billion in 2017 and is estimated to experience considerable growth due to rising incidence of chronic diseases in the country. As per Cancer Statistics in China, 2015 report estimation; there were 4,292,000 new cancer cases in China. Moreover, high unmet needs and insufficient healthcare access are factors boosting demand for biotechnology thereby, fostering business growth.

Some of the prominent business players operating in biotechnology market includes Abbott Laboratories, Agilent Technologies, Amgen, BioGen Medical Instruments, Bio-Rad Laboratories, Danaher, F. Hoffmann-La Roche, Illumina, Merck, PerkinElmer, Qiagen and Thermo Fisher Scientific. Industry competitors are mainly focusing on inorganic strategies such as partnership, merger and acquisitions to escalate their market position as well as strengthen product offerings.

Speaking of cancer, a new DNA sequencing technique has recently ventured the market that allows scientist to track genetic errors in individual cancer cells. Scientists are planning to use this new technology to analyze different types of leukemias which presently have no effective treatments. Owing to limited number of options available for cancer patients this technique is anticipated to generate huge demand for DNA sequencing, which will in return favor the biotechnology market growth in the future.

Table of Content:

Chapter 1. Methodology

1.1. Methodology

1.2. Market definitions

1.3. Forecast parameters

1.4. Data sources

1.4.1. Secondary

1.4.1.1. Paid sources

1.4.1.2. Unpaid sources

1.4.2. Primary

Chapter 2. Executive Summary

2.1. Biotechnology industry 360 degree synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Application trends

2.1.3. Technology trends

2.1.4. Regional trends

Chapter 3. Biotechnology Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Presence of favorable government initiatives in developed countries

3.3.1.2. Innovative technologies

3.3.1.3. Rising demand for agriculture-based products

3.3.1.4. Growing incidence of chronic ailments worldwide

3.3.2. Industry pitfalls and challenges

3.3.2.1. Risk associated to genetic data

3.4. Growth potential analysis

3.4.1. By application

3.4.2. By technology

3.5. Porter's analysis

3.6. Competitive landscape, 2017

3.6.1. Strategy dashboard

3.7. PESTEL analysis

Chapter 4. Biotechnology Market, By Application

4.1. Key segment trends

4.2. Biopharmacy

4.2.1. Market size, by region, 2013-2024 (USD Billion)

4.3. Bioservices

4.3.1. Market size, by region, 2013-2024 (USD Billion)

4.4. Bioagriculture

4.4.1. Market size, by region, 2013-2024 (USD Billion)

4.5. Bioindustrial

4.5.1. Market size, by region, 2013-2024 (USD Billion)

4.6. Bioinformatics

4.6.1. Market size, by region, 2013-2024 (USD Billion)

Chapter 5. Biotechnology Market, By Technology

5.1. Key segment trends

5.2. Fermentation

5.2.1. Market size, by region, 2013-2024 (USD Billion)

5.3. Tissue engineering and regeneration

5.3.1. Market size, by region, 2013-2024 (USD Billion)

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Related Report:

Global Marine Biotechnology Market Growth (Status and Outlook) 2019-2024

Marine biotechnology is an innovative field of research in science and engineering that encompasses the use of marine bioresources for a multitude of applications, including the production of food, fuel, materials or specific, often bioactive, compounds and may contribute to green growth and sustainable industries and prosperous communities.Marine biotechnological advancements have already resulted in some successes in diverse fields, including human health, pharmacology, fisheries, environmental recovery or restoration, food and cosmetics industries, agriculture and chemistry. Examples of applications resulting from biotechnological developments include the use of (micro- and macro-) algae for the production of biofuels and the production of marine-derived polysaccharides, which are one of the most abundant renewable biomaterials found on land and in the oceans.

https://www.marketstudyreport.com/reports/global-marine-biotechnology-market-growth-status-and-outlook-2019-2024?utm_source=RR-SP

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