Global Biotechnology Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2030
The global biotechnology market size is expected to reach USD 2.44 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.83% from 2021 to 2028. The factors driving the market include favorable government policies, the launch of new and advanced products, robust investment in the biotechnology sector, and rising demand for synthetic biology. Robust funding through alliance investment in start-up biotechnology companies for adopting new and advanced products is contributing to market growth. For instance, in February 2021, Illumina, Inc. invested in nine new genomics companies through Illumina Accelerator in 4 startups in the U.K. and 5 start-ups in the U.S. The companies include MultiplAI Health LTD.; BiotaX Labs LTD.; Mitra Bio Limited; Broken String Biosciences Limited; Flightpath Biosciences, Inc.; Doloromics Inc.; Oshun Medical Inc.; Parallel Health Inc.; and Rubik Therapeutics, Inc. Illumina Accelerator is an initiative through which selected startups can access to seed investment, genomics expertise, and Illumina sequencing systems and reagents and seek business guidance.
Download Exclusive Sample Report (150 Pages PDF with All Related Graphs & Charts) For Free @ https://www.grandviewresearch.com/industry-analysis/biotechnologymarket?utm_source=WordPress&utm_medium=referral&utm_campaign=jitendra-m_HC_07-feb22&utm_term=biotechnology-market&utm_content=rd The bioinformatics application segment is expected to expand at the fastest CAGR from 2021 to 2028 owing to the increasing adoption of these tools for analyzing complex sequencing data. By technology,
nanobiotechnology is expected to expand at a lucrative growth rate of 16.8% over the forecast period owing to the growing focus on nanotechnologies for efficient drug delivery and increasing research using this technology. Biotechnology Market Report Highlights
The health application segment accounted for the largest share of 48.64% in 2020 owing to the COVID-19 impact, prevalence of diseases, increasing focus on the development of regenerative medicines, and improving healthcare infrastructure
The DNA sequencing technology segment held the second-largest share in 2020 owing to its growing penetration in the development of precision medicines
North America held the largest share of 44.19% in 2020. Companies operating in the region are launching advanced solutions to cater to the needs of the biotechnology industry
For instance, in February 2021, Waters Corporation launched Waters ACQUITY PREMIER Solution. It is a next-generation liquid chromatography solution for improving analytical data quality
Asia Pacific is expected to expand at the fastest CAGR of 16.8% from 2021 to 2028 owing to favorable government initiatives and changes in drug approval regulations in India and China
For More Insights Get FREE Detailed Sample Report @ https://www.grandviewresearch.com/industry-analysis/biotechnologymarket/request/rs1?utm_source=WordPress&utm_medium=referral&utm_campaign=jitendram_HC_07-feb-22&utm_term=biotechnology-market&utm_content=request_sample
Biotechnology Market Segmentation Grand View Research has segmented the global biotechnology market on the basis of technology, application, and region: Biotechnology Technology Outlook (Revenue, USD Billion, 2017 - 2028) Nanobiotechnology
Tissue Engineering And Regeneration
DNA Sequencing
Cell-based Assays
Fermentation
PCR Technology
Chromatography
Others
Biotechnology Application Outlook (Revenue, USD Billion, 2017 - 2028) Health
Food & Agriculture
Natural Resources & Environment
Industrial Processing
Bioinformatics
Others
Biotechnology Regional Outlook (Revenue, USD Billion, 2017 - 2028) North America o
o
U.S. Canada
o
Germany
o
U.K.
o
Spain
o
France
o
Italy
o
Japan
o
China
o
India
o
South Korea
o
Australia
Europe
Asia Pacific
Latin America o
Brazil
o
Mexico
Middle East & Africa o
South Africa
o
Saudi Arabia
List of Key Players of Biotechnology Market AstraZeneca
Gilead Sciences, Inc.
CELGENE CORPORATION
Biogen
Abbott
Amgen Inc.
Novo Nordisk A/S
Merck & Co.
Johnson & Johnson Services, Inc.
Novartis AG
Sanofi
F. Hoffmann-La Roche Ltd.
Pfizer, Inc.
Lonza
Complete Report is Available (Including Full TOC, List of Tables & Figures, Graphs, and Chart) https://www.grandviewresearch.com/inquiry/369/ibb?utm_source=WordPress&utm_medium=referral& utm_campaign=jitendra-m_HC_07-feb-22&utm_term=biotechnologymarket&utm_content=Inquiry_Before_Buying