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Kenneth Research has evaluated the current market opportunities in Biotechnology Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biotechnology Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Biotechnology Market is estimated to reach $726.8 billion by 2025; growing at a CAGR of 8.1% from 2017 to 2025. Biotechnology is the technology to upgrade or modify the whole part of biological system for human and industrial welfare. It is defined as the industrial application of living organisms and their biological processes such as microbiology, genetic engineering, biochemistry among others, so as to make best usage of the microorganisms for the benefit of mankind. Industrial biotechnology application has also steered some clear processes that produces less waste, less energy and water. It is also used in various industrial sectors such as pulp chemical, paper, textiles, minerals and metal industries, among others.
Increasing demand for therapeutic and diagnostic solutions on principles of red biotechnology, recombinant technology, and DNA sequencing are the factors propelling the growth of the market. However, risks associated with GM organisms and crops may limit the market from growing. Moreover, growing prevalence of diseases such as cancer, hepatitis B, and other orphan disorders are expected to equally influence the overall growth of market during the forecast period.
The global biotechnology market is segmented on the basis of technology, application and geography. Technology segment is categorized into fermentation, cell-based assay, PCR technology, chromatography, DNA sequencing, nanobiotechnology, tissue engineering and regeneration and other technologies. Application segment is bifurcated into natural resources & environment, industrial processing, bioinformatics, health, food & agriculture and other applications.
Based on geography, the global biotechnology market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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The key players operating in the market are Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Pfizer Inc., Merck & Co., Inc., Sanofi, Abbott Laboratories, Amgen Inc., AstraZeneca, Biogen, and Celgene Corporation, among others.
The key takeaways from the report:
The report will provide detailed analysis of Global Biotechnology Market with respect to major segments such as technology, and application
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Biotechnology Market has been included in the report
Profile of the key players in the Global Biotechnology Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Biotechnology Market:
Technology Segments
Fermentation
Cell-Based Assay
PCR Technology
Chromatography
DNA Sequencing
Nanobiotechnology
Tissue Engineering and Regeneration
Other Technologies
Application Segments
Natural Resources & Environment
Industrial Processing
Bioinformatics
Health
Food & Agriculture
Other Applications
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Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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