The increasing prevalence of chronic diseases and development of novel techniques is driving the demand for the market.
The global Biotechnology Market is forecasted to reach USD 1,029.09 Billion by 2027, according to a new report by Reports and Data. The market is growing due to the rise in demand for horticulture products, such as beans, and wheat, among others. The growth in artificial intelligence in biotechnology products is making significant breakthroughs in the field of technology, which is propelling market demand. An increase in conditions like cancer and diabetes will also impact the growth of the biotechnology market.
An increase in demand for agro-based products such as sugarcane, wheat corn, and sorghum and the need for biotech innovation in technical research will fuel market growth.
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Further key findings from the report suggest
- Key participants include Gilead, AstraZeneca, Biogen, Celgene Corporation, Abbott, Novo Nordisk A/S, Amgen, Inc., Johnson Johnson Services, Inc., Merck Co, and Novartis AG, among others.
Segments covered in the report:
On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Tissue engineering and regeneration
- Cell-based Assays
- Nanobiotechnology
- Fermentation
- Chromatography
- DNA Sequencing
- PCR technology
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Food and Agriculture
- Industrial Processing
- Health
- Natural resources environment
- Bioinformatics
- Others
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Beneficial Aspects of the Report:
- Global and region forecast of the Biotechnology market from 2020-2027
- In-depth analysis of market dynamics, industry outlook, market size based on types and applications
- Details of value chain analysis, supply and demand ratio, production and consumption patterns
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
- Detailed insights on competitive landscape and emerging market trends
Research Methodology:
The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.
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