MIDDLE EAST AND ASIA PACIFIC BIOTECHNOLOGY MARKET ANALYSIS

Middle East and Asia Pacific Biotechnology Market, by Technology (Nanobiotechnology, Tissue Engineering and Regeneration, Fermentation, Cell Based Assay, CRISPR, and Others ), by Application (Molecular Biology, Gene Synthesis, Gene Editing, Mammalian Protein Expression, Recombinant Antibody Expression, Peptide Synthesis, Protein Expression, Monoclonal and Polyclonal Antibody Generation, and Others), by End User (Biotechnology & Pharmaceutical Companies, Research Institutes & Laboratories, Academic Institutions, and Others), and by Region (Asia Pacific and Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Feb 2022
Code : CMI4937
Pages :415
Formats :
Excel and PDF
Industry : Biotechnology

Middle East And Asia Pacific Biotechnology MarketSize and Trends

Biotechnology deals with the application of biological knowledge and techniques pertaining to molecular, cellular, and genetic processes to develop significantly improved products and services. Biotechnology products and processes have ensured ease of living, improved health care, agriculture output, created livelihood opportunities, and others.

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).

Figure 1: Middle East and Asia Pacific Biotechnology Market Share (%) Analysis, By Technology, 2022

Asia Pacific is expected to hold a dominant position in the Middle East and Asia Pacific biotechnology market over the forecast period, owing to rising initiatives by market players to make biosimilars available in Asia Pacific region. For instance, in February 2021, Biocon Biologics Ltd., a fully integrated biosimilar company and a subsidiary of Biocon Ltd., signed an agreement with the Clinton Health Access Initiative (CHAI) to expand access to lifesaving cancer biosimilars in over 30 countries in Africa and Asia, as a part of the Cancer Access Partnership (CAP).

Moreover, due to increasing strategic license agreements by key market players, Middle East is expected to witness significant growth in the Middle East and Asia Pacific biotechnology market over the forecast period. For instance, in April 2021, 221b Foundation, a non-profit organization of a U.S.-based biotechnology company Sherlock Biosciences granted Cooper International, a subsidiary of Cooper Pharma in Dubai, licenses for developing and manufacturing diagnostic tests for COVID-19 using Sherlock’s CRISPR technology in the Middle East.

Figure 2: Middle East and Asia Pacific Biotechnology Market Value (US$ Bn), by Region, 2022