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2023 Biotech Ingredient Global Market - Recent Developments, Segmented Data And Business Operation Data Analysis By 2032 | Merck & Co. Inc., Sanofi S.A., AbbVie Inc., International Flavors & Fragrance (IFF) Inc., Novartis AG
Biotech Ingredient Global Market
Biotech Ingredient Market Size, Growth Rate, And Forecast
The global biotech ingredients market size is expected to grow from $53.09 billion in 2022 to $56.76 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global biotech ingredients market size is expected to reach $71.01 billion in 2027 at a CAGR of 5.8%.
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Biotech Ingredient Market Drivers
The rising demand for generic medicines is expected to propel the growth of the biotech ingredient market going forward. A generic medicine refers to a drug that is designed to have the same properties as a previously approved medicine. Biotech ingredients are used in general medicine as they are the primary source for providing less costly, more efficient means of producing a range of active ingredients that are almost identical to the original product and are typically regulated under an extended set of rules.
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Biotech Ingredient Market Segments
• By Type: Active Pharmaceutical Ingredients, Biosimilars
• By Expression Systems: Mammalian Expression Systems, Microbial Expression Systems, Yeast Expression Systems, Plant Expression Systems, Insect Expression Systems
• By Application: Food And Beverages, Personal Care And Cosmetics, Cleaning Products, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Biotech Ingredient market.
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Biotech Ingredient Market Key Players
Major competitors in the Biotech Ingredient market include Merck & Co. Inc., Sanofi S.A., AbbVie Inc., International Flavors & Fragrance (IFF) Inc., Novartis AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Mylan Inc., Boehringer Ingelheim International GmbH, AstraZeneca plc.
The Business Research Company's "Global Biotech Ingredient Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Biotech Ingredient Market Include:
1. Executive Summary
2. Biotech Ingredient Market Characteristics
3. Biotech Ingredient Market Trends And Strategies
4. Biotech Ingredient Market - Macro Economic Scenario
5. Biotech Ingredient Market Size And Growth
……..
28. Key Mergers And Acquisitions In The Biotech Ingredient Market
29. Biotech Ingredient Market Future Outlook and Potential Analysis
30. Appendix
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