Biotechnology Market Trends 2021-2025 | Abbott Laboratories, Agilent Technologies, Amgen, Illumina, Merck, PerkinElmer
Growing occurrence of chronic ailments such as heart disease, cancer, diabetes, asthma, and stroke is a major factor driving the growth of the biotechnology market. Biotechnology helps enhance the quality of human life by deploying cellular processes in order to develop suitable products. Unhealthy diets and habits such as consumption of tobacco and alcohol are paving the way for rising prevalence of hypertension and chronic respiratory diseases which in turn is aiding the expansion of biotechnology market.
Estimates claim that the biotechnology market is estimated to be worth USD 729 billion by the year 2025. Increasing incidences of chronic diseases have also propelled government institutes such as the Department of Biotechnology, National Center of Biotechnology Information and Biomedical Imaging & Bioengineering to invest in research & development activities to come up with innovative technologies in neuro-disease biology and cancer. The surging demand for advanced technologies such as DNA sequencing, fermentation, tissue engineering, and recombinant technology is also fueling the growth of the biotechnology market.
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Notably, Agilent Technologies, Merck, F. Hoffmann-La Roche, Amgen, Abbott Laboratories, Bio-Rad Laboratories, Danaher, Thermo Fisher Scientific, PerkinElmer, BioGen Medical Instruments, Illumina, and Qiagen are the key industry players currently leading the biotechnology industry.
These companies are leveraging organic and inorganic growth strategies to stay ahead in the competition. Taking Oct. 2018 for instance, Bio-Rad received the U.S. FDA sanction for IH-Reader 24, a semi-automated and specific blood typing instrument. With this, the company has enhanced its existing product portfolio.
Listed below are some of the ongoing trends that are likely to fuel biotechnology market growth
Biotechnology plays a pivotal role in developing innovative treatments for treating numerous diseases. Unhealthy lifestyle habits like alcohol and tobacco consumption are one of the major reasons for the surge in the prevalence of chronic diseases.
Numerous authorities and expert groups are actively focusing on research and development activities to come up with novel methods to treat neurological diseases and cancer. Increasing prevalence of chronic diseases like heart disease, stroke, asthma, hypertension and chronic respiratory diseases worldwide have propelled the growth trajectory of biotechnology market.
Biotechnology is increasingly being used in the food and beverage industry. Fermentation helps with the preservation of food products and prolongs their shelf life. The process produces chemical changes in organic substrates through the action of enzymes and uses microorganisms as raw materials in fermenters and bioreactors. This results in increased shelf life of the consumable items.
Moreover, key industry participants are focusing on research and development activities for the production of fermented products. As per reports, in 2018, the fermentation segment captured more than 11% revenue share of the biotechnology market. Meanwhile, the food and beverage industry is anticipated to generate lucrative opportunities for the biotechnology market.
Considering the geographical landscape, the Europe biotechnology market surpassed USD 115 billion in 2018 owing to rising adoption rates of technologically advanced methods used to alter the genome of plants and animals across the region. Furthermore, favorable government reforms coupled with rising awareness regarding advanced biotechnology applications is driving the growth of the Europe biotechnology market.
Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/biotechnology-market
Partial Chapter of the Table of Content
Chapter 4. Biotechnology Market, By Application
4.1. Key segment trends
4.2.1. Market size, by region, 2014-2025 (USD Billion)
4.3.1. Market size, by region, 2014-2025 (USD Billion)
4.4.1. Market size, by region, 2014-2025 (USD Billion)
4.5.1. Market size, by region, 2014-2025 (USD Billion)
4.6.1. Market size, by region, 2014-2025 (USD Billion)
Chapter 5. Biotechnology Market, By Technology
5.1. Key segment trends
5.2.1. Market size, by region, 2014-2025 (USD Billion)
5.3. Tissue engineering and regeneration
5.3.1. Market size, by region, 2014-2025 (USD Billion)
5.4. PCR technology
5.4.1. Market size, by region, 2014-2025 (USD Billion)
5.5.1. Market size, by region, 2014-2025 (USD Billion)
5.6.1. Market size, by region, 2014-2025 (USD Billion)
5.7. DNA sequencing
5.7.1. Market size, by region, 2014-2025 (USD Billion)
5.8. Cell based assay
5.8.1. Market size, by region, 2014-2025 (USD Billion)
5.9.1. Market size, by region, 2014-2025 (USD Billion)
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