Press release
Biotechnology Market Size, Share, Trends Set to Grow at 13-15% by 2029: Growth Fueled by Innovations in Genetic Engineering, Biopharmaceutical Demand, and R&D Investments
Biotechnology is the scientific field that uses biological organisms, systems, or processes to develop products and technologies aimed at improving health, agriculture, environmental sustainability, and industrial efficiency. By applying principles of genetics, molecular biology, and biochemistry, biotechnology enables advancements like genetic engineering, biopharmaceutical development, biofuels, and genetically modified organisms (GMOs). This field is instrumental in producing therapies for diseases, increasing crop resilience, and creating environmentally friendly industrial processes. Innovations like gene editing, synthetic biology, and regenerative medicine continue to expand biotechnology's applications, addressing global challenges in medicine, food security, and sustainable resource management.
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Advancements in genetic engineering and genomics to propel market demand
Advancements in genetic engineering and genomics are significantly propelling the biotechnology market by enabling precise modifications at the genetic level, fostering breakthroughs in personalized medicine, gene therapies, and biopharmaceuticals. Techniques like CRISPR-Cas9 and next-generation sequencing (NGS) have transformed disease treatment and prevention, allowing for targeted therapies that cater to individual genetic profiles. These innovations support the development of therapies for previously untreatable diseases and improve crop resilience in agriculture. Additionally, genomics-based data analytics facilitate faster drug discovery and development processes, reducing R&D costs and time-to-market. This precision and efficiency are attracting substantial investments across the biotechnology sector.
Growing demand for biopharmaceuticals is driving the market growth
The growing demand for biopharmaceuticals is a major driver of biotechnology market growth, as biologic drugs like monoclonal antibodies, vaccines, and cell therapies offer targeted treatments with fewer side effects compared to traditional medications. Biopharmaceuticals are particularly effective in treating complex chronic diseases, including cancer, autoimmune disorders, and genetic conditions. Their efficacy and specificity are fueling global demand, prompting biopharma companies to expand R&D investments. Additionally, advancements in biotechnology, such as recombinant DNA technology and advanced bio-manufacturing processes, enable efficient biopharmaceutical production, supporting rapid market expansion and the development of more personalized, high-impact therapies.
Competitive Landscape Analysis
The global biotechnology market is marked by the presence of established and emerging market players such as F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., Bristol-Myers Squibb Company, Novartis AG, Biogen, Abbott, Pfizer Inc., Amgen Inc., Novo Nordisk A/S, and Merck KGaA; among others. Some of the key strategies adopted by market players include new product and service development, strategic partnerships and collaborations, and geographic expansion.
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Market Segmentation
This report by Medi-Tech Insights provides the size of the global biotechnology market at the regional- and country-level from 2022 to 2029. The report further segments the market based on technology, application, and offering.
Market Size & Forecast (2022-2029), By Technology, USD Million
Nanobiotechnology
Tissue Engineering and Regenerative Medicine
DNA Sequencing and Genomics
Cell-based Assays
Fermentation Technology
PCR Technology
Chromatography
CRISPR and Gene Editing
Synthetic Biology
Cell and Gene Therapy
Bioinformatics
Others
Market Size & Forecast (2022-2029), By Application, USD Million
Healthcare and Medical Biotechnology
Agricultural Biotechnology
Industrial Biotechnology
Environmental Biotechnology
Others
Market Size & Forecast (2022-2029), By Offering, USD Million
Biopharmaceuticals
Bio-services
Bio-agriculture Products
Bio-industrial Products
Diagnostic and Research Reagent
Others
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Contact:
Ruta Halde
Associate, Medi-Tech Insights
Phone: +32 498 86 80 79
Email: info@meditechinsights.com
Website: https://meditechinsights.com/
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
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