Biotechnology Market - Forecast(2021 - 2026)

The Biotechnology Market is estimated to reach revenue of $610.92bn by 2025 from $430.92bn from 2018, growing at a CAGR of 9.50% during the forecast period 2019-2025. The growth of the Biotechnology market is owed to the rising demand for horticulture products like wheat, beans etc. Rising innovations of artificial intelligence in the biotechnology industry is making a significant breakthrough in the technological field as a pipeline of products are undergoing technological enhancement within minimum time frame. The report covers Biotechnology Market size by type and applications, Biotechnology Market share by top 5 companies and also the market share by start-ups during the forecast period.

Key Takeaways

  • Biotechnology involves application of molecular biology and cellular process to develop technologies and products and resolve the biological constraints prevailed in the market. Biomedical Engineering and Biotechnology are closely related where biotechnology deals with the life science and biomedical engineering deals with human health and clinical industry.

  • Major players in the Biotechnology market are Agilent Technologies, BioGen Medical Instruments, Danaher, F. Hoffmann-La Roche, Abbott Laboratories Illumina, Merck, PerkinElmer, Qiagen and Thermo Fisher Scientific, Amgen, Bio-Rad Laboratories.

  • Currently, there are around 250 biotechnology health care products and vaccines available to patients. More than 13.3 million farmers around the world use agricultural biotechnology to increase crop production, prevent damage from insects and pests.

  • Applied Immunology approaches aimed at modifying immune response and plays a significant role in biotechnology market. Genomics is an application of biotechnology on understanding how very large numbers of genes interact with each other and with their environment.


By Technology - Segment Analysis

On the basis of Type, Tissue Engineering and Regeneration segment dominated the Biotechnology market in 2018 and is forecast to grow with a CAGR of 5% due to the technological demand and the rising demand for tissue engineering in the market.

By Application - Segment Analysis

On the basis of Application, Health segment holds the largest revenue share due to the rising demand for bio pharmacy for the use of recombinant genes in medications to treat different ailments. The market is also gaining popularity owing to the Increasing number of long term diagnosed diseases coupled with the rising new drug advancements.

Geography - Segment Analysis

North America is estimated to hold largest share, of 41% in the market in 2018. This is due to the huge investment made by the companies in the research and development sector in countries like U.S. and Canada. The biotechnology market in APAC region is anticipated to attain a significant share in the market due to the awareness of people regarding the viability of the technology and huge infrastructural facilities made within the country,

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Location: United States

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