In biotechnology, various types of technology such as regeneration, chromatography, DNA sequencing, tissue engineering, fermentation, and cell-based assays are used for research and development activities and production of the pharmaceutical product. Moreover, the manufacturers of biotechnology products are engaged in developing advanced instruments and software, which surges its demand because of growing technological advancements in biotechnology. Thus, the increasing technological advancements in biotechnology are likely to boost the growth of the market in upcoming years.
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Data Bridge Market Research analyses a growth rate in the Global Biotechnology Market is expected to reach USD 10129.16 billion by 2030 from USD 1023.92 billion in 2022, growing at a CAGR of 29% in the forecast period of 2023 to 2030. Strategic initiatives taken by major players will likely to increase the growth of the global biotechnology market.
The rising prevalence of the chronic disease is expected to drive the market's growth rate
Chronic diseases such as cancer, heart disease, and diabetes are the leading causes of disability and death globally. The biotechnology services and products with ever-increasing advancement aid in treating and diagnosing various chronic diseases. Biotechnology provides an extensive range of approaches to help prevent, detect, diagnose, monitor, and treat infectious diseases. The growing incidence of chronic diseases such as cancer has augmented the demand for the biotechnology products and services, thus propelling the growth of the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Instruments, Reagents And Services and Software), Technology (Nano Biotechnology, PCR Technology, DNA Sequencing, Chromatography, Tissue Engineering And Regeneration, Cell-Based Assays, Fermentation And Others), Application (Bio-pharmacy, Bio-industrial, Bio-services, Bioinformatics And Bio-agriculture), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Research Institutes And Others), Distribution Channel (Direct Tender, Third Party Distributors, And Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Abbott (U.S.), Agilent Technologies Inc. (U.S.), Danaher (U.S.), BD (U.S.), Bio-Rad Laboratories Inc. (U.S.), General Electric (U.S.), BIOMÉRIEUX (France), Lonza (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Hoefer, Inc. (U.S.), PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Promega Corporation (U.S.), Quality Biological (U.S.), Siemens (Germany), Bio-Techne (U.S.), TAKARA HOLDINGS INC. (Japan), Sysmex Corporation (Japan), Tosoh Corporation (Japan), Ortho Clinical Diagnostics (U.S.), Olympus Corporation (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The biotechnology market is segmented on the basis of product type, technology, application, end user and distribution channel.
- On the basis of product type, the global biotechnology market is segmented into instruments, reagents and services & software.
The instruments segment of product type segment is anticipated to dominate the biotechnology market
The instruments segment is expected to dominate the market with 54.81% market share owing to the availability of extensive range of innovative solutions
- On the basis of technology, the global biotechnology market is segmented into nanobiotechnology, PCR technology, DNA sequencing, chromatography, tissue engineering and regeneration, cell-based assays, fermentation, and others. The nanobiotechnology segment is expected to dominate the market with a 36.55% market share because of its extensive range of applications
- On the basis of application, the global biotechnology market is segmented into biopharmacy, bioindustrial, bioservices, bioinformatics and bioagriculture.
The biopharmacy segment of application segment is anticipated to dominate the biotechnology market
Biopharmacy segment is expected to dominate the market with 64.71% market share because of increasing number of research and development activities.
- On the basis of end user, the global biotechnology market is segmented into pharmaceutical & biotechnology companies, contract research organizations, academic & research institutes and others. The pharmaceutical & biotechnology companies segment is expected to dominate the market with 61.18% market share because of growing initiative activities by many healthcare organizations and government authorities to encourage research endeavours
On the basis of distribution channel, the global biotechnology market is segmented into direct tender, third party distributors, others. The direct tender segment is expected to dominate the market with 70.22% market share because of increasing demand for biotechnology instruments
Major Players
Data Bridge Market Research recognizes the following companies as the major biotechnology market players in biotechnology market Abbott (U.S.), Agilent Technologies Inc. (U.S.), Danaher (U.S.), BD (U.S.), Bio-Rad Laboratories Inc. (U.S.), General Electric (U.S.), BIOMÉRIEUX (France), Lonza (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Hoefer, Inc. (U.S.), PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Promega Corporation (U.S.).
Market Development
- In 2021, Thermo Fischer Scientific agreed to acquire the clinical research organization Pharmaceutical Product Development (PPD) at pay of USD 17.4 billion. This acquisition would aid the company commercialize the drug discoveries by spending more in drug development and develop its clinical research business.
- In 2021, Amgen agreed to acquire Rodeo Therapeutics Corporation. Rodeo is a biopharmaceutical company that creates small-molecule therapies to help repair and regenerate specific tissues. This acquisition will allow Amgen to provide innovative and advanced biopharmaceutical products and strengthen its market position.
- In 2021, Charles River Laboratories announced acquiring Retrogenix Limited, an early-stage contract research organization providing specialized bioanalytical services using its proprietary cell microarray technology. This acquisition is expected to strengthen the company's market position.
Regional Analysis
Geographically, the countries covered in the biotechnology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in biotechnology market during the forecast period 2023 to 2030
North America dominates the biotechnology market because of growing prevalence of biotechnology in this region. Furthermore, growing population suffering from chronic disease will further enhance the market growth in this region.
Asia-Pacific is estimated to be the fastest-growing region in biotechnology market the forecast period 2023 to 2030
Asia-Pacific is expected to grow from 2022 to 2029 because of the large presence of biotechnology products providers in this region. Additionally, the increasing the prevalence of the geriatric population in India, China, and Japan will further boost the market growth in this region.
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