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Biotechnology Market - Competitive Analysis & Forecast 2010 - 2017

01-30-2018 12:10 PM CET | Health & Medicine

Press release from: Transparency Market Research

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Biotechnology Market - Competitive Analysis & Forecast 2010 -

The biotechnology market is primarily driven by the regulatory support provided by governments of various countries, increasing food demand, advancement of technology to combat fatal diseases and depleting natural resources. However, certain factors like long lead time from research to commercialization, and the perception of consumers towards biotech products is restricting the growth of the biotechnology industry. Stem cell technology, cloning and nanotechnology are some of the rapidly emerging technologies in the biotechnology market today. 
 
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The long lab-to-market phase of biopharmaceutical drugs is a major inhibitor for the market. It takes anywhere between 12 to 15 years for a drug to be commercially sold. In addition, social and ethical issues with clinical trials also act as a restraint for the development of the biotechnology market. 
 
North America is the largest market for biotechnology due to the higher adoption of biopharmaceuticals and increased preference towards bioservices due to higher cost in the region.
 
Biotechnology finds application in segments such as pharmaceuticals, downstream chemical processing, agriculture and bioservices among others. The biopharmaceutical segment mainly comprises of vaccines, insulin, monoclonal antibodies, generic and branded drugs. Biopharmacy is the largest segment of the biotechnology market. The bioindustrial segment is rapidly gaining market share in the overall biotechnology space due to increasing demand of bioenzymes and biofuels in various applications. The bioagriculture domain primarily focuses on bioseeds, genetically modified (GM) crops and biopesticides. This market is booming as the demand for food production is rising due to increasing population. North America is the leading consumer of GM crops. 
 
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The bioservices segment is the fastest growing market in the Asia Pacific region due to low cost of clinical trials. Bioservices primarily comprise of CROs (Contract Research Organizations) involved in clinical trials, contract manufacturing and drug development. This has been a growing segment, especially in the Asia Pacific region with economies such as India and China registering growth of over 20%.
 
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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