Biotechnology Services Market Expansion Continues, with Forecast Valuation of $279.09 Billion by 2029

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What Will the Biotechnology Services Industry Market Size Be by 2025?
The size of the biotechnology services market has experienced significant expansion over the past few years. The market that stood at a value of $162.19 billion in 2024 is anticipated to reach $178.54 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. The impressive growth during the historic period is the result of robust economic development in emerging markets, enhanced collaborations with research institutes and other companies, and a rise in the demand for food.

What's the Long-Term Growth Forecast for the Biotechnology Services Market Size Through 2029?
The biotechnology services industry is projected to experience significant growth in the coming years, with the market expected to reach a valuation of $279.09 billion by 2029, growing at a compound annual rate (CAGR) of 11.8%. This upswing during the forecast period can be tied to rapid technological progress, increased instances of non-communicable diseases, a focus on creative solutions, heightened demand for agriculture-oriented biotechnology services, an expanding requirement for synthetic biology, advancements and enhancements in drug research, a rise in personalized healthcare, and a surge in collaborative partnerships. Key trends predicted for the forecast period are strategic alliances, the integration of data management systems using cloud technology, the evolution of next-generation sequencing technology, the adoption of digitization procedures in clinical trials, the implementation of automated solutions, the use of artificial intelligence technologies, and financial investments to advance synthetic biology product and solution development.

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What Are the Key Growth Drivers Fueling the Biotechnology Services Market Expansion?
As diseases like hepatitis B, diabetes, and cancer become increasingly prevalent, they are fueling advancements in biotechnology research. This scientific field employs tools from biology and chemistry to delve into the genetic makeup of bacteria and viruses in order to identify potential causes of diseases. Among the sectors of pharmaceutical and biotechnology companies, cancer research is leading the charge. Medical sciences are making strides in the areas of stem cell treatment with monoclonal antibody therapy and genome sequencing. For example, in the year 2024, the UK's National Health Service reported that in 2023, over half a million (549,000) additional individuals in England were found to be at risk of developing type 2 diabetes. This statistic brought the total number of people registered with a GP for non-diabetic hyperglycemia, or pre-diabetes, to 3,615,330-an almost 20% increase from 3,065,825 the previous year. Moreover, the World Health Organization, based in Switzerland, projected in February 2024 that there would be over 35 million new cases of cancer by 2050, marking a 77% increase from the estimated 20 million cases in 2022. As a result, the increasing prevalence of disease and substantial investment in research and development are expected to fuel expansion in the biotechnology services market.

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What Are the Key Trends Driving Biotechnology Services Market Growth?
The pace of alliances and affiliations among biotech service industry participants is on the rise. To illustrate, in April 2024, ICL partners, a manufacturing firm rooted in Israel, entered into a partnership with Ideelab Biotechnology, a Brazil-based Biotech firm, with intentions to speed up the inception of novel agricultural biological technologies centered on sustainable and regenerative solutions. The partnership relies on the advanced biological capabilities of Ideelab and the pioneering status of ICL in plant nutrition and health. Their joint venture aims at producing innovative products capable of addressing the pressing global agricultural dilemmas and boosting food production levels.

How Is the Biotechnology Services Market Segmented?
The biotechnology services market covered in this report is segmented -

1) By Service: Prevention And Disease Control, Public Engagement Activities, Health Education And Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing And Isolation, Research And Development
2) By Industry: Clinical Research Organizations (CROS), Contract Manufacturers Organizations (CMOS), And Contract Research And Manufacturing Services (CRAMS)
3) By Area Of Application: Pharmaceutical, Biotechnology, Academic, Clinical Trial, Healthcare Sectors, Others

Subsegments:
1) By Prevention And Disease Control: Vaccination Services, Disease Surveillance
2) By Public Engagement Activities: Awareness Campaigns, Community Outreach Programs
3) By Health Education And Research: Medical Training Programs, Research Grants And Fellowships
4) By Food Biotechnology Services: Genetically Modified Crop Services, Food Safety Testing
5) By Donor Recruitment: Blood Donor Recruitment, Organ Donor Recruitment
6) By Tissue Collection: Blood Tissue Collection, Biopsy Tissue Collection
7) By Cell Processing And Isolation: Stem Cell Processing, Immune Cell Isolation
8) By Research And Development: Drug Discovery Services, Clinical Research

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Which Companies Are Leading the Charge in Biotechnology Services Market Innovation?
Major companies operating in the biotechnology services market include Parexel International Corporation, Thermo Fisher Scientific, Laboratory Corporation of America Holdings, IQVIA, ICON plc, Charles River Laboratories, Syneos Health, Sartorius AG, Precision for Medicine Inc., Novartis, Eppendorf Asia Pacific Sdn. Bhd., Emmessar Biotech & Nutrition Ltd, Vcanbio Cell & Gene Engineering Corp., Ltd, Ke Rui Gene, Absea Biotechnology Ltd, CStone Pharm-B, Daiichi Sankyo, bitBiome, Taisho Pharmaceutical, AGC Biologics, Hamamatsu Pharma Research, Artios Pharma, AstraZeneca, Bio Products Laboratory (BPL), Cambridge Bioscience, Shire Pharmaceuticals Ltd, BTG Ltd, eXmoor Pharma, 4D Pharma PLC, Touchlight Genetics, Ophidia Medical Technologies, ATAI Life Sciences, Phaseform, Evotec, Sanity Group, Primmbiotech Vaccitech, Biolat, Asla-Biotech, Genera, Anima Lab, Silvanols, OU TBD-Biodiscovery, Qvalitas Arstikeskus AS, Concise Systems OU, GPE Globalpharma OU, Belarusian National Biotechnology Corporation, Innothera, Olainfarm, Pharmaidea, Amgen Inc., Gilead Sciences, Celgene Corporation, Biogen Inc., Vertex Pharmaceuticals, Illumina, Inc., Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals, Hemostemix Inc., Resverlogix Corporation, Zenith Epigenetics Corp., Bayer, AMEGA Biotech, Pierre Fabre, Pfizer, Quantificare, Apsen Farmaceutica, BioMarin Pharmaceutical, DK Diagnostics, Biosonda Biotechnology, Laboratorios Legrand, Biomerics, Julphar Pharmaceuticals, Medpharma, Pharmax, Neopharma, City Breeze Technical Services, CinnaGen, BioSun Pharmed, AryoGen Pharmed, 4Clinics, 54gene, Amoun, Aspen Pharmacare, BBI Solutions, BioTech Africa, ClinArt MENA, Crux Pharmaceuticals, Genesis Pharmaceuticals, Massive Genomics, Mayne Pharma, Sanofi Genzyme, Teleflex Medical, The Micron Group

Which Regions Are Leading the Global Biotechnology Services Market in Revenue?
Asia-Pacific was the largest region in the biotechnology services market in 2024. North America was the second largest region in the global biotechnology services market analysis. The regions covered in the biotechnology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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