SAN FRANCISCO, April 13, 2021 /PRNewswire/ -- 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
Key suggestions from the report:
- 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
- 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
Read 150 page research report with ToC on "Biotechnology
Market Size, Share & Trends Analysis Report By Technology (DNA
Sequencing, Nanobiotechnology), By Application (Health,
Bioinformatics), By Region, And Segment Forecasts, 2021 - 2028"
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 start-ups
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.
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.
Supportive government initiatives are significantly contributing
to market growth. For instance, in September
2020, the Government of India supported research institutes in
agriculture biotechnology, including organic farming. Since the
last 3 years, around USD 42.67
million had been invested to support this endeavor.
Moreover, the emergence of the SARS-COV-2 infection is driving
the market. Companies are developing new solutions for combating
the pandemic situation. For instance, in December 2020, Thermo Fisher Scientific Inc.
announced CE-marking for TaqPath COVID-19 that can be used to
perform in-vitro diagnosis of SARS-CoV-2, respiratory syncytial
virus (RSV) A/B, and influenza A/B infections. The new kit will
help in the detection and differentiation between diseases that
have similar clinical symptoms.
Grand View Research has segmented the global biotechnology
market on the basis of technology, application, and region:
- Biotechnology Technology Outlook (Revenue, USD Billion, 2017
- Tissue Engineering And Regeneration
- DNA Sequencing
- Cell-based Assays
- PCR Technology
- Biotechnology Application Outlook (Revenue, USD Billion,
2017 - 2028)
- Food & Agriculture
- Natural Resources & Environment
- Industrial Processing
- Biotechnology Regional Outlook (Revenue, USD Billion, 2017 -
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East &
- South Africa
- Saudi Arabia
List of Key Players of Biotechnology Market
- Gilead Sciences, Inc.
- CELGENE CORPORATION
- Amgen Inc.
- Novo Nordisk A/S
- Merck & Co.
- Johnson & Johnson Services, Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Pfizer, Inc.
Find more research reports on Biotechnology Industry,
by Grand View Research:
- DNA Sequencing Market – The global DNA sequencing market size
is expected to reach USD 11.2 billion
by 2027 and is expected to expand at a compound annual growth rate
(CAGR) of 11.4% from 2020 to 2027. Rapid advancements in sequencing
technology and bioinformatics have enabled the identification of
- Genomics Market – The scientific community has tried to address
genetic susceptibility and severity to SARS-CoV-2 infection by
combining research efforts using existing genetic databases.
Multiomic-based approaches and genome-wide association studies
(GWAS) have been employed to uncover biological networks and common
variants underlying host-pathogen interactions.
- Gene Expression Market – Rise in investments for the
development of alternative drug discovery approaches coupled with
an increase in research activities for genetic studies is expected
to drive the global market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
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