Global Biotechnology Market Size, Share, Growth Analysis, By Technology (Nano-biotechnology, Tissue Engineering), By Application(Health, Food & Agriculture) - Industry Forecast 2022-2028

Global biotechnology market is segmented based on the Technology type, end use and region. Based on Technology the Global biotechnology market is segmented into Nano-biotechnology, Tissue Engineering and Regeneration, DNA Sequencing, Cell-based Assays, Fermentation, PCR Technology, and Chromatography. Based on Application, the market is segmented into Health, Food & Agriculture, Natural Resources & Environment, Industrial Processing, Bioinformatics, and Others.  Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Analysis by Technology

Based on Technology, the global biotechnology market is segmented into Nano-biotechnology, Tissue Engineering and Regeneration, DNA Sequencing, Cell-based Assays, Fermentation, PCR Technology, and Chromatography. The segment of DNA sequencing held the larger market share. Due to falling sequencing prices and the increasing adoption of advanced DNA sequencing techniques, DNA sequencing technology dominated the market in 2021 and generated the biggest revenue share. Applications of sequencing to understand diseases have increased thanks to government support for genetic research. For instance, the University of Pittsburgh Graduate School of Public Health and Washington University School of Medicine in St. Louis received a USD 10.7 million NIH grant in May 2021 for the study of the genetic basis of Alzheimer's disease. Applications of theranostics nanoparticles, for instance, have gained momentum in order to facilitate quick diagnosis and customization of therapy options for several illnesses at once. Nanoparticle characteristics including low toxicity, smaller size, and chemical adaptability have proven to be useful in addressing the drawbacks of traditional ways of generic drug delivery. Due to public and private expenditures, high healthcare spending, and the existence of multiple established and up-and-coming firms, tissue engineering and regenerative medicine also retained a sizeable stake.

Analysis by Application

Based on Application, the market is segmented into Health, Food & Agriculture, Natural Resources & Environment, Industrial Processing, Bioinformatics, and Others. Among these, the health segment held the larger share. The segment is projected to expand as a result of the rising illness burden, increased availability of agri-biotech products and services, and technological advancements in the bio-industrial sector. Significant developments in the fields of artificial intelligence (AI), machine learning, and big data are also contributing to the segment's growth. These developments are anticipated to increase the penetration of bioinformatics applications, particularly in sectors like the food and beverage industry. The segment of bioinformatics held the second largest market share. The rise in platform application is linked to the life science company's increased demand for structural identification and modification. This would therefore assist in the process of creating new drugs and assessing their therapeutic benefits. Additionally, improved drug development techniques are required due to increased efficiency and safety in drug research and development.

Global biotechnology market is dominated by North America. The presence of major players, extensive R&D efforts, and high healthcare spending are just a few of the factors driving the regional market's expansion. Platforms based on genomics, proteomics, and cell biology are widely used in the area, which is hastening the uptake of life sciences tools. A further factor that is anticipated to have a positive effect on market growth in the area is the rise in the prevalence of chronic diseases and the increasing use of personalized medicine applications for the treatment of serious illnesses.

Asia Pacific region is fastest growing region till forecasted period. The expansion plans of major market players, favorable government initiatives, and increasing investments in healthcare infrastructure can all be linked to the growth of the regional market. For instance, Moderna Inc. announced in February 2022 that it intended to geographically expand its commercial network in Asia by establishing four new subsidiaries in Malaysia, Singapore, Hong Kong, and Taiwan. Additionally, partnerships in the biopharmaceutical industry, such as the strategic partnership between Kiniksa Pharmaceuticals and Huadong Medicine for the development and commercialization of Kiniksa's ARCALYST and mavrilimumab in the Asia-Pacific region, are anticipated to fuel market expansion.

Driver

• Increasing prevalence of chronic illnesses is believed Chronic conditions are now more common than ever. With the growth of the middle class and the speeding up of urbanization, people are becoming more sedentary. As a result, there are more cases of genetic abnormalities, diabetes, malaria, HIV, and other diseases like TB and obesity. Additional factors driving market revenue growth include an increase in the prevalence of target diseases and genetic anomalies, ongoing technological advancements in Polymerase Chain Reaction technologies, and increased investments, financing, and grants for scientific research. The biopharmaceutical sector aids in the prevention of chronic diseases. Biopharmaceutical sector is focusing on creating individualized therapies. This will help develop individualized procedural healthcare standards and aid in the treatment of some hereditary genetic diseases.
• The pharmaceutical industry's growing need for enzymes to synthesize intermediates for the production of active pharmaceutical ingredients (API) for potent medicines is predicted to fuel the market's expansion. The ability of an enzyme to transform complex molecules into simpler molecules (starch to glucose) in the food and beverage industry, removal of fats and oil stains in the detergent industry, the production of bioethanol for use in biofuels, and improved bleaching properties in the paper and pulp industries are the factors anticipated to drive the demand for enzymes in the upcoming years.

Restraint

• Clinical trials are at serious risk from the effects of medical biotechnology. Because the technology is so new, testing has resulted in injuries and sometimes fatalities. Before employing technology on human beings, great thought should be given to these risks, and anyone taking part in a trial should be extremely informed of all possible consequences. Unfortunately, there is a paradox whereby sick people will occasionally try new things in the hopes of getting better. This suggests that scientists and medical personnel have a significant ethical obligation to properly disclose the dangers to patients and respect their ultimate decision.

Global biotechnology market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Top Player's Company Profiles

• AstraZeneca (UK)
• Gilead Sciences, Inc. (US)
• Bristol-Myers Squibb (US)
• Sanofi (France)
• Biogen (US)
• Abbott Laboratories (US)
• Pfizer, Inc. (US)
• Amgen, Inc. (US)
• Novo Nordisk A/S (Denmark)
• Merck KGaA (Germany)
• Johnson & Johnson Services, Inc. (US)
• Novartis AG (Switzerland)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Lonza (Switzerland)

Recent Developments

• In Aug 2022, Gilead Sciences, Inc. have entered into a definitive agreement and will acquire MiroBio. The acquisition will provide Gilead with MiroBio’s proprietary discovery platform and entire portfolio of immune inhibitory receptor agonists. MiroBio’s lead investigational antibody, MB272, is a selective agonist of immune inhibitory receptor B- and T-Lymphocyte Attenuator (BTLA) and has entered Phase 1 clinical trials, with the first patient dosed earlier this week. MB272 targets T, B and dendritic cells to inhibit or blunt activation and suppress an inflammatory immune response.
• In March 2022, Pfizer Inc. the completed of its acquisition of Arena Pharmaceuticals, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases.

• By merging cutting-edge technology, expanding developments in the life sciences are providing significant advantages for healthcare interventions and productivity. Innovative technique development and company adoption have a beneficial impact on the biotech industry and are expected to drive significant market growth. Medicine is utilizing cutting-edge technologies, such as 3D bioprinting. Heart valves, cartilage, and skin are just a few of the bodily parts that may be developed using 3D bioprinting and living cells. The development of medications, tissues, and organs like the liver and heart utilizing patient body cells has a tremendous potential. The spectrum of uses for human cells and tissues in medical research will be further expanded because accurate models for research and analysis will be made available.
• Biosensors are another cutting-edge technology utilized for tracking individual health that has been incorporated thanks to developments in medical technology. Numerous biosignatures like the heartbeat, blood pressure, body temperature, and others are monitored using biosensors. This technology makes it easier to monitor patients remotely and helps medical professionals by giving them important health information.

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According to our Global Biotechnology Market Analysis, in terms of Technology, the segment of DNA sequencing held the larger market share. Due to falling sequencing prices and the increasing adoption of advanced DNA sequencing techniques. In terms of application, the health segment held the larger share. The segment is projected to expand as a result of the rising illness burden, increased availability of Agri-biotech products and services, and technological advancements in the bio-industrial sector.