Report Summary

The global biotechnology market size was valued at USD 449.06 billion in 2019 and is projected to register a CAGR of 6.84% during the forecast period. Increasing pervasiveness of conditions, for instance, hepatitis B disease, and other issues is anticipated to fuel the growth in this area. Rising interest for sustenance and horticultural items such as wheat, rice, sugarcane and beans due to increasing population in U.S., China, and India is expected to push the significance of these products. Additionally, factors, for example, deficiency of water, low yields, insect assaults, and constrained accessibility of agrarian land are prompting scientists to participate in broad R&D.

The organizations are concentrating on the enhancement of ingenious systems and their usage by partnering with members in the industry. Significant associations, together with government subsidized foundations and different self-ruling communities talking towards the biotechnology funding elevate financing to assist R&D and brand-new product enhancement attempts.

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Rising incidence of persistent conditions such as diabetes and cancer globally is expected to increase the need for biotechnology products over the forecast period. It is estimated that diabetes affected more than 420 million people globally and is expected to rise to more than 600 million by 2045, as per the International Diabetes Federation, in 2019. In addition, the proportion of type 2 diabetes in individuals is growing in lots of countries thus, such high percentages are expected to push the market growth.

Extensive applications paired with growing need for efficient medications and treatments would favor the growth of companies actively involved in this market. Improved healthcare facilities in developing regions and rising R&D costs for biotechnology developments will increase the revenue size. Furthermore, increasing demand for agro-based products and growing need for biotech practices in technical research will withstand to foster biotechnology market growth. However, risks associated to hereditary information can prevent the market to grow in the coming years.

Application Outlook

Biopharmacy application is expected to be the largest segment and is estimated to have more than 60% share in 2019. This sector is expected to grow during the forecast period due to increased use of bio-recombinant proteins in many of the medications to treat different ailments. Biopharma companies focus on improvement of customized medicines that must even more enhance segmental development.

Biotechnology applications in healthcare segment accounted for the largest share in the overall market. Increasing levels of chronic diseases coupled with the demand for new drug advancements is one of the major factors pushing to the market growth. Moreover, increased demands in the personalized medicines and biosimilars is also anticipated to push this segment during the forecast period.

Bioinformatics segment is also expected to have fastest growth during the forecast period due to repercussion of considerable advancements in this field. Significant developments which include designing and development of algorithms for effective genomic and proteomic information storage and management which is produced through the studies performed on plant, animal or human genomes. Bioindustrial section is projected to have substantial growth over the forecast period. High segmental development is accredited to increasing use of bio enzymes and biochemical for numerous chemical treatments.

Biotechnology Market Report Scope

By Technology By Application By Region • Fermentation • Tissue Engineering and Regeneration • PCR Technology • Nanobiotechnology • Chromatography • DNA Sequencing • Cell Based Assays • Others • BioPharmacy • BioServices • BioAgriculture • BioIndustrial • Bioinformatics • North America (U.S., Canada) • Europe (Germany, UK, France, Spain, Italy, Netherlands) • Asia Pacific (China, India, Japan, Korea Thailand, Singapore, Malaysia) • Latin America (Mexico, Brazil) • Middle East & Africa (Saudi Arabia, UAE, Nigeria, South Africa)

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Technology Outlook

The tissue engineering and regeneration section was valued USD 118 billion in 2017. It is anticipated that this segment would have a strong growth due to rising need for this technology along with advances in tissue engineering, which have pushed the segmental development during the forecast period.

Nanobiotechnology is estimated to have highest market share in 2019. Nanobiotechnology discovers major application in some of the major chronic disorders such as cancer. It involves the advancement of nanoparticle based chemotherapeutic medications, gold nanoparticles, and quantum dots for molecular medical diagnosis. Increasing R&D performed in numerous organizations in determining new opportunities such as microfabricated systems and devices which are used during numerous acute disorders treatments is one of the major factor driving the growth of this technology.

PCR innovation segment held considerable market share in 2019 and is predicted to witness a significant growth rate over forecast period. Increasing applications of PCR technology in the field of forensic and life sciences and scientific diagnostics is anticipated to add the much-needed traction to this growing market.

Regional Outlook

United States and Canada together dominated the total market in 2019 at more than 40%. High R&D investments for new drug development is one of the major factors for its big share. U.S. invests more per capita on health care and has a high development rate as compared to any other country. According to the report published by OECD in June 2018, it is estimated that U.S. invested nearly 17.2% of its GDP towards health care expenditure.

The market in the U.S. was valued at around USD 88 billion in 2017 and is estimated to grow at a considerable rate due to growing chronic diseases. According to a report by CDC (Center for Chronic Disease Prevention) in October 2018, 6 out of 10 people in the U.S. have a chronic ailment. Due to federal government policies and continuous technological developments, the market in this region is expected to gain significant growth during the forecast period.

The market for biotechnology in Asia Pacific region, is anticipated to attain significant market share during the forecast period due to patient awareness, swiftly enhancing health care infrastructure, and growing health care expense levels in the fast-developing economies of China and India.

The market in China is predicted to witness considerable growth rate of more than 10% in the upcoming years. This growth is due to growing occurrence of chronic diseases along with increasing R&D in the biotechnology market. Rising population coupled with increasing demand for bio-agri products is also one of the other major factors pushing the market growth in this region.

Competitive Landscape

A few of the major service providers functional in market consist of Agilent Technologies, BioGen Medical Instruments, Danaher, F. Hoffmann-La Roche, Abbott Laboratories Illumina, Merck, PerkinElmer, Qiagen and Thermo Fisher Scientific, Amgen, Bio-Rad Laboratories. These players execute tactical efforts such as mergers and acquisitions and new product launches to maintain and strengthen their positions in the market. For example, Illumina acquired Edico Genome which is a provider of information analysis accelerating services for next-generation sequencing (NGS) in May 2018. Similarly in July 2017, Sanofi acquired Protein Sciences which was aimed as an addition of recombinant based influenza vaccine to its product portfolio.