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Biotechnology Market Report 2022-2030: Industry Growth, Top Companies Share, Size, and Forecast
According Nova One Advisor The global Biotechnology market is valued at US$ 1,023.93 billion in 2021 and it is expected to grow at a CAGR of 13.11% during the forecast period (2022-2030) The demand in the Biotechnology market is projected to reach a valuation of US$ 3,879.52 billion by the end of 2030.
Biotechnology Market Report Highlights
- By Technology, the U.S. biotechnology market was valued at USD 390.1 million in 2021 and expected to witness growth at a CAGR of 13.10% from 2022 to 2030.
- The nanobiotechnology segment is expected to expand at the fastest CAGR of 14.9% from 2022 to 2030 owing to an increase in nanomedicine approvals and the advent of advanced technology.
- These factors are expected to drive the segment growth over the forecast period.
- The health application segment accounted for the largest share in 2021 at more than 50.04% and is expected to be the leading segment throughout the forecast period.
- North America accounted for the largest share of 44.21% in 2021.
- The Asia-Pacific is estimated to hit growth rate of over 17% during the forecast period.
Report Scope of the Global biotechnology Market
|Market Size in 2021||USD 1,023.93 Billion|
|Revenue Projection By 2030||USD 3,879.52 Billion|
|Growth Rate||CAGR of 13.11% from 2022 to 2030|
|Historical data||2017 - 2020|
|Forecast Period||2022 to 2030|
|Segments Covered||Technology, application and region|
|Companies Mentioned||AstraZeneca; Gilead Sciences, Inc.; Bristol-Myers Squibb; Biogen; Abbott Laboratories; Amgen Inc.; Novo Nordisk A/S; Merck KGaA; Johnson & Johnson Services, Inc.; Novartis AG; Sanofi, F. Hoffmann-La Roche Ltd.; Pfizer, Inc.; Lonza|
The global biotechnology market was valued at US$ 1,023.93 billion in 2021. Biotechnology is an interdisciplinary field that uses living creatures, biological systems, or derivatives to improve or develop procedures and outcomes for the production of healthcare products and therapies. It has a significant impact on a variety of industries, including medical and pharmaceuticals, genomics, and food and chemical manufacturing. It can be used to address a wide range of issues, including health and well-being, food and energy security, and environmental protection.
The continuous advancements in molecular biology have resulted in the emergence of new scientific disciplines such as genomics and proteomics. The development of therapeutics and other medications has been aided by the need for medication discovery and development has grown as the prevalence of chronic diseases has increased. Due to broad nature of application, it is being employed more frequently in various industrial areas. The increasing use of organic products in agriculture is also contributing to the market expansion.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this report, Nova One Advisor has segmented the global biotechnology market report on the basis of technology, application, and region:
- By Technology
- Tissue Engineering & Regeneration
- DNA Sequencing
- Cell-based Assays
- PCR Technology
- By Application
- Food & Agriculture
- Natural Resources & Environment
- Industrial Processing
- Other Applications
North America accounted for the largest share of 44.21% in 2021. The regional market is witnessing growth due to several factors, such as the presence of key players, extensive R&D activities, and high healthcare expenditure. The region has a high penetration of genomics, proteomics, and cell biology-based platforms that is accelerating the adoption of life sciences tools. Furthermore, the rise in prevalence of chronic diseases and rising adoption of personalized medicine applications for the treatment of life-threatening disorders is expected to positively impact the market growth in the region. The Asia Pacific is expected to expand at the fastest growth rate from 2022 to 2030.
The growth of the regional market can be attributed to increasing investments and improvement in healthcare infrastructure, favorable government initiatives, and expansion strategies from key market players. For instance, in February 2022, Moderna Inc. announced its plans for a geographic expansion of its commercial network in Asia through the opening of four new subsidiaries in Malaysia, Singapore, Hong Kong, and Taiwan. In addition, biopharmaceutical collaborations, such as Kiniksa Pharmaceuticals and Huadong Medicine’s strategic collaboration for the development and commercialization of Kiniksa’s ARCALYST and mavrilimumab in the AsiaPacific region are expected to drive the market growth.
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