Pune, India, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Biotechnology is a technology which based on the biology, it connects cellular and biomolecular processes for the development of technologies and products that helps to improve lives and the health of living organisms. In addition, the modern biotechnology enables to provide outstanding innovations for products and technologies against the unbearable and rare diseases it also reduces environmental footprint, feed the hungry. Furthermore, it utilizes less and cleaner energy for safer, cleaner and more efficient industrial manufacturing processes.
According to our new research study on “Biotechnology Market Size and Forecast to 2025 – COVID-19 Impact and Global Analysis – by Technology and Application,” the market is expected to grow from US$ 218.01 billion in 2017 to $471.33 billion by 2025; it is estimated to record a CAGR of 10.5% during 2017-2025. Factors such as declining prices of genome sequencing, increasing innovative technologies bolstering the biotechnology market growth. Additionally, increasing number of initiatives by private and government bodies are also driving the global biotechnology market growth.
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Global Biotechnology Market: Competitive Landscape and Key Developments
Thermo Fisher Scientific Inc., Merck KGaA, F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Danaher, QIAGEN, Agilent Technologies, BD, Bio-Rad Laboratories, Inc. and Illumina, Inc. are among the key companies operating in the Biotechnology market. Leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.
In April 2022, CytoTronics raised US$9.25M in initial seed funding, led by Anzu Partners, with the association of Milad Alucozai (BoxOne Ventures) and institutional investors. The company will use this seed funding to promote its innovative platform that utilizes computer chip technology to conduct electrical and electrochemical cell-based assays.
In June 2021, Element Raised US$276 Million in Series C Financing for DNA Sequencing Platform. The sequencing platform is designed to lower the cost of genomic applications while materially enhancing quality by retooling a DNA sequencing system’s fundamental element, including sequencing chemistry, surface chemistry, detection, and data analysis for research and diagnostic users.
In February 2021, Selvita launched its new cell-based phenotypic assay platform for drug discovery. The Platform will be used to test new compounds with therapeutic potential in multiple areas, including neuroinflammatory, fibrotic diseases, and others, addressing specific constraints of existing therapeutic methods. The Platform will enable Selvita to complement its integrated drug discovery portfolio of services with a novel, powerful method to discover and develop new medicines quickly and effectively.
In December 2021, Thermo Fisher Scientific Inc. announced that it had completed its acquisition of PPD, Inc., a leading global provider of clinical research services to the biopharma and biotech industry, for US$17.4 billion.
Rising Future Conferences and Workshops is Expected to be the Global Biotechnology Market Trend in the Future:
Conferences is the excellent opportunity for the envoys from institutes and universities to interact with the world-class scientists, researchers to discuss the major topics related to current scenario of biotechnology, Pharmaceutical Biotechnology in Healthcare, Industrial and Microbial Biotechnology, Food Biotechnology, Agriculture Biotechnology, Plant Biotechnology, Animal Biotechnology, Environmental Biotechnology, Nano biotechnology including their applications. For instance, BIO Asia–Taiwan 2023 Onsite + Online will be held July 26-30 in Taipei, Taiwan. The event aims to build on the success of recent years’ gatherings to bring together pharmaceutical and biotechnology executives and investors from North America, Europe, and Asia, explore business opportunities, and engage with Taiwan’s emerging biotech sector.
Moreover, in June 2022, ISPE Biotechnology Conference held in in Boston, Massachusetts, which is focused on advanced technologies' continuous development and growth, featured speakers on a comprehensive range of topics, including advanced manufacturing and how lessons learned from COVID-19 vaccine development can apply to biologics development. Highlights from several plenary sessions and keynotes are provided here; the sidebar addresses a panel discussion about addressing risk management as biopharmaceuticals continue to move forward. Moreover, Magnus Group announced the “4th Edition of Euro-Global Conference on Biotechnology and Bioengineering” (ECBB 2024), which is scheduled as a Hybrid Event in Germany and Virtually from September 19-21, 2024, on a meaningful framework that ensures meaningful interactions, engagement, and connection. The conference is all about highlighting the latest advancements and applications of biotechnology for future challenges that focus on new approaches exploring the challenges concerning research and advancements.
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The “Global Biotechnology Market” is segmented based on technology, application, and geography.
The Biotechnology market by technology is segmented into DNA sequencing, fermentation, cell based assay, nanobiotechnology, chromatography, PCR technology, tissue engineering and regeneration, other technologies. Based on application, the Biotechnology market is segmented into industrial processing, bioinformatics, food & agriculture, health, natural resources & environment, other applications.The Biotechnology market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Go through further research published by The Insight Partners:
White Biotechnology Market- Global Analysis and Forecast to 2030
Agricultural Biotechnology Market- Global Analysis and Forecast to 2030
Blue Biotechnology Market- Global Analysis and Forecast to 2030
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