Biotech Ingredient Market Size, Share, Trends, Insights And Forecast To 2033

The new report published by The Business Research Company, titled ""Biotech Ingredient Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the biotech ingredient market size has grown strongly in recent years. It will grow from $56.76 billion in 2023 to $60.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The biotech ingredient market size is expected to see strong growth in the next few years. It will grow to $78.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.

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The Surging Demand For Generic Medicines Boosting Growth In The Biotech Ingredient Market

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. For instance, in September 2022, according to the U.S. Generic and Biosimilar Medicines Savings Report published by the Association for Accessible Medicines (AAM), a US-based association of generic medicine manufacturers and distributors, and the Biosimilars Council, a part of the AAM association, patients in the United States received 6.4 billion prescriptions in 2021, with an increase of 91% of them being generic or biosimilar medications. Patients, customers, employers, and taxpayers saved $373 billion by using these lower-cost medicines where generics medicines represent 3% of all health care spending. Therefore, the rising demand for generic medicines is driving the growth of the biotech ingredient market.

Innovative Biotech Solutions Transforming The Cosmeceutical Landscape
Technological advancement has emerged as the key trend gaining popularity in the biotech ingredient market. Major companies operating in the biotech ingredient market are introducing new technologies to develop innovative products to strengthen their position in the market. For instance, in March 2023, International Flavors & Fragrances Inc., a US-based manufacturer of fragrance, biotech solutions, cosmetic energetics, and organic health ingredients, launched Aurist AGC, a novel biopolymer for hair care. This illustrates the new DEB platform's potential by utilizing IFF's comprehensive biotechnology functionality to ensure sustained and high-performance glamour solutions that really can truly contribute to change in the cosmeceutical industry. The ingredient uses IFF's proprietary Designed Enzymatic Biopolymers (DEB) technology, an advanced biotechnology capable of producing novel biobased polysaccharides with distinct structures and product features.

The biotech ingredient market covered in this report is segmented -

1) By Type: Active Pharmaceutical Ingredients, Biosimilars
2) By Expression Systems: Mammalian Expression Systems, Microbial Expression Systems, Yeast Expression Systems, Plant Expression Systems, Insect Expression Systems
3) By Application: Food And Beverages, Personal Care And Cosmetics, Cleaning Products, Other Applications

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Major companies operating in the biotech ingredient market report are 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., Givaudan, Firmenich SA, Amyris Inc., Advanced BioTech, Sollice Biotech, Novocap S.A., Eli Lilly, Bristol-Myers Squibb Company, GlaxoSmithKline plc., F. Hoffmann-La Roche AG, Biogen Inc., Amgen Inc., Johnson & Johnson, Genentech Inc., Regeneron Pharmaceuticals Inc., Vertex Pharmaceuticals Incorporated, Alexion Pharmaceuticals Inc., Celgene Corporation, Gilead Sciences Inc., BioMarin Pharmaceutical Inc., Incyte Corporation, Seattle Genetics Inc., Alnylam Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Moderna Inc., Editas Medicine Inc., Intellia Therapeutics Inc., Sangamo Therapeutics Inc., Bluebird Bio Inc., Spark Therapeutics Inc. .

Contents of the report:
1. Executive Summary
2. Biotech Ingredient Market Report Structure
3. Biotech Ingredient Market Trends And Strategies
4. Biotech Ingredient Market - Macro Economic Scenario
5. Biotech Ingredient Market Size And Growth
…..
27. Biotech Ingredient Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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