Red Biotechnology Market Global Industry Medicine Biotechnology in 2019
The global market for red biotechnology is categorized by applications and product types as follows:
Gene recombinant drugs
Currently, North America dominates the global red biotechnology market and is followed by Europe due to increased introduction of new products in the developed markets and number of patents and intellectual property rights granted in the biomedical sector. Emerging economies of Asia-Pacific, Latin America, Middle East and Africa are also expected to emerge as rapidly growing red biotechnology market in the near future due to increasing healthcare expenditure and technological advances.
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Some of the major factors driving the global market for red biotechnology include breakthrough outcome of new medical therapies, increase in use of biocatalysis process in the synthesis and production of active pharmaceutical ingredients, advancements in biopharmaceuticals, increasing consumer awareness and government initiatives. However, high capital investment and technical limitations may pose a challenge to the growth of red biotechnology market.
Some of the market players in this industry include Amgen, Inc., Beijing Tiantan Biological Products Co., Ltd., Biogen Idec, Inc., Cephalon, Inc., Chiron Corporation, CSL Limited, Genentech, Inc., Genzyme Corporation, Gilead Sciences, Inc., MedImmune LLC, Serono SA and Shenyang Sunshine Pharmaceutical Co., Ltd.
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