Biotechnology Market will reach at USD 730.2 billion by 2025. The reports forecast the biotechnology market by technology, application and region. It highlights COVID-19 impact on the biotechnology industry.

Description

 Biotechnology Market: by Technology (DNA Sequencing, Nanobiotechnology, Tissue engineering and Regeneration, Fermentation, Cell-Based Assay, PCR Technology, Chromatography), by Application (Biopharmacy, Bioservices, Bio agriculture, Bioindustries, and Bioinformatics), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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The biotechnology market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the biotechnology market

Biotechnology Market Introduction

The biotechnology market size is valued at USD 483.8 billion in 2019 and expected to register a CAGR of 7.1% during the forecast period (2020-2025). The increase of artificial intelligence in the biotechnology industry is making a significant breakthrough in the technological field. The biotechnology industry also deals with modifying food related items and pharmacy. These factors will increase the global biotechnology market over the forecast period.

Factors Affecting the Biotech Industry Over the Forecast Period

• Increasing demand for biotech solutions for diabetic and cancer patients is expected to boost the growth of biotechnologies in the market
• Treatment of new kind of disorders and diseases has driven the biotechnology industry to increase the accuracy of the solutions
• The collection of genetic data is one of the major challenges faced by companies in the biotechnology market
• People usually deny to use the product and also are heisted to follow strict rules and regulations related to the registration of products that are limiting the growth and entry of new players in the biotechnology market.

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Impact of COVID-19 on the Biotechnology Market:

During the first quarter of 2020, the impact of the pandemic on the biotech market was relatively low. The outbreak of COVID-19 resulted in the rapid increase in the demand for biotechnology across several areas, mainly in the healthcare and industrial sectors. Therefore, with the outbreak of the COVID-19, there is a significant increase in demand for biotech that has been seen across the globe, which has positively impacted the biotechnology market value in 2020 and subsequent years. The biotechnology industry is a strategic asset for a nation and the world

Scope of the Report

The report outlines the global biotechnology market study based on technology and application

Based on the technology, the biotechnology market has been segmented into –

• DNA Sequencing
• Nanobiotechnology
• Tissue engineering and Regeneration
• Fermentation
• Cell-Based Assay

Biotechnology Market: Key Competitors

The global biotechnology market is highly fragmented, with the presence of a large number of small players across the globe. The vital Biotech manufacturers operating in the global market are

• Agilent Technologies
• Biogen Medical Instruments
• Danaher
• Hoffmann-La Roche
• Abbott Laboratories Illumina,
• Merck
• PerkinElmer
• Qiagen and Thermo Fisher Scientific

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