Biotechnology uses living cells to develop or manipulate products for specific purposes. Early applications of biotech led to the development of products such as bread and vaccines. However, this discipline has evolved significantly over a period of time to manipulate the genetic structures and biomolecular processes of living organisms. The modern practice of biotechnology draws from various disciplines of science and technology, including molecular biology, chemistry, bionics, genetic engineering, genomics, nanotechnology, and informatics to prevent and treat disease, medical diagnostics, for sustainable options as well as genetically modified organisms. Modern applications of biotechnology work most often through genetic engineering, which is also known as recombinant DNA technology. Genetic engineering works by modifying or interacting with the genetic cell structures. These modified and new organisms may be beneficial to humans, such as crops with higher yields or increased resistance to drought. Genetic engineering also enables the genetic modification and cloning of animals. Biotechnology has applications, in medicine and agriculture. Examples include the use of biotechnology in merging biological information with computer technology (bioinformatics), exploring the use of microscopic equipment that can enter the human body (nanotechnology), and possibly applying techniques of stem cell research and cloning to replace dead or defective cells and tissues (regenerative medicine), discovery and production of biological enzymes that spark chemical reactions (catalysts); for environmental cleanup, with enzymes that digest contaminants into harmless chemicals and genetic engineering

Market Dynamics

Increasing launches of new products, and mergers and acquisitions by key market players are expected to drive the global biotechnology market growth. For instance, on January 6, 2023, Pfizer Inc., U.S. based multinational pharmaceutical and biotechnology corporation announced that it has entered into a research collaboration with Gero.ai, Singapore based AI-driven drug discovery company, to apply the machine learning technology of Gero to discover potential targets for fibrotic diseases using human-based data. As part of this research collaboration, the companies will leverage Pfizer's expertise and Gero’s technology platform to identify genes and pathways linked to fibrotic diseases. Pfizer may advance the potential therapeutic targets and would be responsible for further preclinical and clinical development. Gero will receive an upfront payment and receive discovery milestone payments if the project progresses.

Key features of the study:

• This report provides an in-depth analysis of the global biotechnology market and provides market size (US$ Bn) and compound annual growth rate (CAGR) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global biotechnology market based on the following parameters– company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Abbott Laboratories, Amgen Inc., GlaxoSmithKline, Johnson and Johnson, Merck, Novartis, Novo Nordisk, Pfizer, Inc., Roche, and Sanofi – Aventis
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global biotechnology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biotechnology market

Detailed Segmentation:

• Global Biotechnology Market, By Application:
  • Biopharmaceutical
  • Bio services
  • Bio-Agriculture
  • Research
• Global Biotechnology Market, By Technology:
  • Fermentation
  • Tissue engineering
  • PCR technology
  • Nanobiotechnology
  • Chromatography
  • DNA Sequencing Technology
  • Cell Based Assay
  • Other Technologies
• Global Biotechnology Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Latin America
    
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    
    • North Africa
    • Central Africa
    • South Africa
• Company Profiles
  • Abbott Laboratories 
  • Amgen Inc.
  • GlaxoSmithKline
  • Johnson and Johnson
  • Merck
  • Novartis
  • Novo Nordisk
  • Roche
  • Sanofi – Aventis