According to the recent study the biotechnology marketis projected to grow at a CAGR of 9%-11% from 2020 to 2025. Growth in this market is primarily driven byincreasing prevalence of chronic diseases, such as diabetes and cancer, and increasing demand for biotech innovations in technical research.
Browse XX figures / charts and XXtables in this 150 -page report to understand trends, opportunities and forecast in biotechnologymarketby application (bio pharmacy, bio services, bio agriculture, bio industries, and bioinformatics), technology (fermentation, tissue engineering and regeneration, polymerase chain reaction (PCR) technology, Nano biotechnology, chromatography, DNA sequencing, cell based assay, and others), and region (North America, Europe, Asia Pacific, and Rest of the World).
“Nanobiotechnologymarket is expected to remain the largest segment during the forecast period.”
Based on technology, the biotechnologymarket is segmented intofermentation, tissue engineering and regeneration, polymerase chain reaction (PCR) technology, nanobiotechnology, chromatography, DNA sequencing, cell based assay, and others. Lucintel forecasts that the nanobiotechnologyis expected to witness the largest segment over the forecast period due to increasing research and development activities related to microfabricated systems and devices used in the treatment of several acute ailments.
“Within the biotechnologymarket, the biopharmacysegment is expected to remain the largest application”
Based on application, the biopharmacysegment is expected to witness the largest application over the forecast period due to increasing use of bio-recombinant proteins in several vaccines used for treatment of various chronic and infectious diseases and rising focus of biopharma companies on personalized medicines.
“North Americawill dominate the biotechnologymarket in near future”
North Americais expected to be the largest region over the forecast perioddue to high research and development investments for development of new drugs and increasing healthcare expenditure in the region.