The development of biotechnology has been one of the most significant advances in medical science, and it has the potential to help mankind in many ways. The development of biotechnology has a range of uses. It is used to make new chemicals, create disease-resistant animals, and develop environmentally friendly foods. It is often referred to as “green” biotechnology, as it focuses on developing environmentally friendly crops. Other areas of biotechnology include green biotechnology, which involves environmental concerns, and blue biotechnology, which includes processes related to aquatic environments and the control of noxious water-borne organisms. Yellow biotechnology deals with food and agriculture, including the fermentation of cheese and alcohol. Violet biotechnology is concerned with legal and compliance issues.
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Major companies contributing to the global biotechnology market include Merck, Johnson and Johnson, GlaxoSmithKline, Amgen Inc., Abbott Laboratories, Sanofi-Aventis, Roche, Pfizer, Inc., Novo Nordisk, and Novartis.
Accelerated drug approvals by regulatory authorities amidst the growing prevalence of chronic and contagious diseases is expected to propel the growth of the biotechnology market throughout the forecast period.
In addition to this, high investments in the biopharmaceutical sector for drug discovery and development processes are expected to supplement the growth of the biotechnology market over the forecast period.
Summary of the COVID-19 Debacle
The inception of the COVID-19 crisis has catalyzed the prospects of the global biotechnology market. The pandemic-driven surge in demand for immunity-boosting supplements to combat virus transmission has positively influenced the market. Contrarily, as lockdowns are lifted, the market is enjoying a bounce-back season to its full capacity.
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- The biotechnology market is anticipated to grow at a CAGR of 12.3 % during the forecast period owing to the increasing investments in research and development activities for drug discovery. For instance, in December 2021, Sanofi acquired Origimm Biotechnology, an Austrian firm focused on developing dermatological treatments, to gain access to a potential vaccine candidate, ORI-001, for acne treatment.
- From a geographical standpoint, the North American region is in the driver’s seat for the global biotechnology market on the heels of a rising number of research activities, growing expenditure in the pharmaceutical sector, and increasing government support.
- In the runner-up spot, the European region is another investment hotspot for the global biotechnology market on account of increasing studies on molecular biology, the presence of major pharmaceutical players, and the growing prevalence of the COVID-19 virus.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Biotechnology Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Biotechnology Industry Impact
Chapter 2 Global Biotechnology Competition by Types, Applications, and Top Regions and Countries
2.1 Global Biotechnology (Volume and Value) by Type
2.3 Global Biotechnology (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Biotechnology Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Biotechnology Market Analysis
Chapter 6 East Asia Biotechnology Market Analysis
Chapter 7 Europe Biotechnology Market Analysis
Chapter 8 South Asia Biotechnology Market Analysis
Chapter 9 Southeast Asia Biotechnology Market Analysis
Chapter 10 Middle East Biotechnology Market Analysis
Chapter 11 Africa Biotechnology Market Analysis
Chapter 12 Oceania Biotechnology Market Analysis
Chapter 13 South America Biotechnology Market Analysis
Chapter 14 Company Profiles and Key Figures in Biotechnology Business
Chapter 15 Global Biotechnology Market Forecast (2021-2027)
Chapter 16 Conclusions
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