- In October 2023, Gilead Sciences, Inc. partnered with Assembly Biosciences to develop innovative therapeutics targeting severe viral diseases. This collaboration aims to leverage both companies' expertise and resources to accelerate the creation of effective treatment options. By combining their strengths, they seek to address critical unmet medical needs in the field of virology and improve patient outcomes
- In October 2023, Kite, a subsidiary of Gilead, entered into a research collaboration and licensing agreement with Epicrispr Biotechnologies. This partnership aims to harness Epic Bio's gene regulation platform to enhance the development of advanced cancer cell therapies. By integrating their innovative technologies, both companies aspire to create more effective treatment options for cancer patients
- In September 2023, Merck KGaA formed partnerships with BenevolentAI and Exscientia to utilize artificial intelligence in the drug discovery process. This collaboration focuses on developing new treatments in oncology, neurology, and immunology, aiming to identify innovative candidates for clinical development. By harnessing advanced AI technologies, Merck KGaA hopes to accelerate the discovery of groundbreaking therapeutic options
- In July 2023, Alexion and AstraZeneca Rare Disease entered into an agreement with Pfizer Inc. to acquire preclinical gene therapy programs. This collaboration reinforces their commitment to advancing next-generation genomic medicines by integrating complementary assets and innovative technologies. By pooling resources, the companies aim to accelerate the development of transformative therapies in the field of gene therapy
- In June 2023, Lonza completed the acquisition of Synaffix B.V., a biotechnology firm focused on enhancing its clinical-stage technology platform for antibody-drug conjugate (ADC) development. Following the acquisition, Synaffix's revenues and profit margins are anticipated to be integrated into Lonza's financial statements from the date of the acquisition. This strategic move aims to bolster Lonza's capabilities in the biopharmaceutical sector and accelerate innovation in ADC technologies
Frequently Asked Questions
The market is segmented based on Segmentation, By Product Type (Instruments, Reagents, 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) – Industry Trends and Forecast to 2031
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The Global Biotechnology Market size was valued at USD 1.32 USD Billion in 2023.
The Global Biotechnology Market is projected to grow at a CAGR of 29% during the forecast period of 2024 to 2031.
The major players operating in the market include Abbott, Agilent Technologies , Danaher, BD, Bio Rad Laboratories , General Electric, BIOMÉRIEUX, Lonza, F. Hoffmann La Roche , Hoefer , PerkinElmer , Merck KGaA, Promega Corporation, Quality Biological, Siemens, Bio Techne, TAKARA HOLDINGS , Sysmex Corporation, Tosoh Corporation, Ortho Clinical Diagnostics, Olympus Corporation.
The market report covers data from the 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..
