Biotechnology Market Increasing CAGR 7.4% During The Period Of 2014 to 2025
The global biotechnology market is expected to reach USD
727.1 billion by 2025, according to a new report by Grand View Research, Inc.
The emergence of certain key themes in the biotechnology market is expected to
drive growth in this industry to a lucrative extent.
These key themes include
regenerative medicine and genetics in diagnostics. Presence of a plethora of
companies focusing on the development of regenerative therapies is anticipated
to drive sector growth through to 2025. Technological advancements pertaining
to the penetration of artificial intelligence in this industry is expected to
fuel progress with potential avenues. The companies are engaged in unleashing
machine learning in order to understand individual cancer cases, while
recommending clinical trials.
Supportive government (and its
allied agencies) policies related to synthetic biology is a major growth
impacting driver in this sector. Developed economies such as UK and the U.S.
are critically monitoring and funding synthetic biology R&D initiatives.
For example, in 2010, a six months’ review of synthetic biology headed by a
panel of expert scientists was enforced by the U.S. President and subsequently
conducted a hearing of the Energy and Commerce Committee exclusively concerning
synthetic biology.
China biotechnology market by
application, 2014 - 2025 (USD Billion)
Browse full research report on
Biotechnology Market: http://www.grandviewresearch.com/industry-analysis/biotechnology-market
Further key findings from
the report suggest:
- Owing to
technological advancements and widespread application of this field in
various aspects of healthcare, the health segment is expected to exhibit
strong progress in the forecast period
- Continuous
introduction of new biotechnological products to cater to healthcare
entities that are involved in diagnosis, prognosis and biopharmaceutical
development is estimated to propel the market
- Decreasing
costs and rise in number of services in this segment are expected to drive
segment with lucrative avenues
- North
American pharmaceutical and biotech companies have experienced great
success in the recent years resulting in larger share
- Introduction
of technologically advanced products and presence of various biotechnology
based programs such as the UC Davis Biotechnology Program, the University
of California Biotechnology Research and Education Program are attributive
to drive the growth of sector in the coming years
- Asia Pacific
market is anticipated to grow at the most lucrative pace due to changing
health care infrastructure in this region which drives the demand for
these products
- Strong
governmental support and recruitment of highly trained Chinese scientists
with the support of their administration has made it possible for China to
speedily build up capacity in area of regenerative medicine
- Key players
operating include Gilead, Celgene, Abbott, Novo Nordisk A/S,Novartis AG,
Sanofi Aventis, and Lonza
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-biotechnology-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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