biotechnology Market

The biotechnology market is estimated to account for US$ 471,336.4 Mn by the end of 2025, escalating at a CAGR of 10.5% during the forecast period from 2018 to 2025, rising from US$ 218,012.1 Mn in 2017.

The rise in the number of R&D expenditures and outsourcing activities by private and government bodies are expected to fuel the growth of global biotechnology market. However, increased risks related to the genetic data expected to hinder the growth of the biotechnology market. On the other hand, rising number of future conferences and workshops anticipated to act as a booster for the growth of the biotechnology market.

In the biotechnology market, the tissue engineering and regeneration segment is expected to the fastest growing segment in the forecast period, by technology. The tissue engineering is a branch that falls under the biomedical engineering & tissue engineering and regenerative medicine are concerned for the replacement or regeneration of cells, tissue or the organ to restore its natural biological functioning. It is also contributing to the micro-fabricated tissue engineered 3 dimensional models for cancer and other diseases research. The main goal of tissue engineering and regeneration is to monitoring and real time control of tissue engineering systems.

The bioinformatics segment expected to be the largest and fastest growing segment, by application. The application of the bioinformatics segment includes the study of living things at a molecular level. The bioinformatics comprises the computational approach to analyze, manage and store the biological data and allows to keep and track the data for data management required by the various pharmaceutical, biotechnological companies and the healthcare service provider such as hospitals, insurance provider for the patients and others. Bioinformatics is also required other field of biotechnology including genomic, proteomics, transcriptomics, chemo informatics, veterinary science, agriculture studies, forensic sciences and biodefense and environmental studies. Thus, the development in the field of information technology and rise in the requirement for the biotechnology are likely to propel the growth of the bioinformatics segment in the forecasted period.

The biotechnology market was estimated through extensive primary and secondary sources that included a vast array of government authorized websites such as Biological Sciences Research Council (BBSRC), Biological and Environmental Research (BER), National Center for Biotechnology Information (NCBI), Non-Governmental Organization (NGO), Council of Scientific and Industrial Research (CSIR), National Science Foundation (NSF) and others. The primary respondents included chair-holders and representatives of the demand and supply side for healthcare industries as well as medical professionals at various biotechnology companies and research centers.