The rising prevalence of chronic illnesses is likely to fuel the Middle East and Asia Pacific biotechnology market growth over the forecast period.Increased biotechnology research and development efforts are likely to fuel the Middle East and Asia Pacific biotechnology market growth over the forecast period. For example, The Chinese University of Hong Kong successfully completed a clinical study in December 2019 to investigate the diagnostic performance of a new test named Nanodisk-MS assay, It use nanobiotechnology to identify mycobacterium TB antigens in hospitalized patients with pulmonary and/or extrapulmonary tuberculosis.
According to Coherent Market Insights, The Middle East and Asia Pacific Biotechnology Market is estimated to be valued at US$ 249.8 Bn in 2022 and expected to exhibit a CAGR of 14.2 % over the forecast period (2022-2030).
Top Companies in the Middle East And Asia Pacific Biotechnology Industry:
1. Abbott Laboratories
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
2. Pfizer Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York.
3. Abbvie Inc.
The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
It has collaborations with Calico Life Sciences LLC; REGENXBIO Inc.; I-Mab Biopharma; Genmab A/S; Janssen Biotech, Inc.; and Genentech, Inc.
4. Biocon
Biocon Limited, a biopharmaceutical company, manufactures pharmaceuticals, and medicinal chemical and botanical products. The company operates through Generics, Novel Biologics, Biosimilars, and Research Services segments. Biocon Limited was founded in 1978 and is headquartered in Bengaluru, India.
5. PerkinElmer, Inc.
PerkinElmer, Inc. provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through two segments, Discovery & Analytical Solutions and Diagnostics. PerkinElmer, Inc. was founded in 1937 and is headquartered in Waltham, Massachusetts.
6. Astrazeneca Plc.
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. AstraZeneca PLC was incorporated in 1992 and is headquartered in Cambridge, the United Kingdom.
7. Illumina, Inc.
Illumina, Inc. develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina and GRAIL segments.
8. Sanofi S.A.
Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. Sanofi was founded in 1973 and is headquartered in Paris, France.
*Definition- Biotechnology is concerned with the use of biological knowledge and techniques related to molecular, cellular, and genetic processes in order to create considerably enhanced goods and services. Biotechnology goods and procedures have improved living conditions, health care, agricultural production, and livelihood chances, among other things.
