Biotechnology Market To Reach US$ 1,303.1 Billion By 2027 - Coherent Market Insights

1. BIOTECHNOLOGY MARKET ANALYSIS INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2020–2027 © Coherent market Insights. All Rights Reserved © Coherent market Insights. All Rights Reserved

2. REPORT DESCRIPTION Biotechnology Market - Overview Biotechnology involves the use of biology to manufacture products on a commercial scale in order to improve the quality of life. It involves the use of organisms, processes or systems to produce products such as pharmaceuticals on a large scale. Statistics: The global Biotechnology Market is estimated to account for US$ 1,303.1 Bn in terms of value by the end of 2027. Global Biotechnology Market: Drivers Increasing demand for food is expected to propel growth of the global biotechnology market over the forecast period. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050. Global Biotechnology Market: Opportunities R&D in vaccines is expected to offer lucrative growth opportunities for players in the global biotechnology market. For instance, in April 2020, the U.S. Food and Drug Administration (FDA) granted a Biologics License Application for Sanofi’s MenQuadfi Meningococcal (Groups A, C, Y, W) Conjugate Vaccine for the prevention of invasive meningococcal disease in persons 2 years of age and older. Browse Research Reports: https://www.coherentmarketinsights.com/market- insight/biotechnology-market-4025 © Coherent market Insights. All Rights Reserved

3. REPORT DESCRIPTION Global Biotechnology Market: Restraints Long research and development lead time is expected to hinder growth of the market. The process of discovering a drug from the earliest stage to getting the product to the market involves a time period of almost ten to fifteen years. Other than the basic discovery of the drug, the stages involved in the drug being available in the market involves preclinical testing, investigational new drug (IND) application, first phase of clinical trials, second phase of clinical trials, third phase of clinical trials, new drug application (NDA) and fourth phase of studies. The drug approval in the U.S. is majorly looked upon by the Food and Drug Administration (FDA). Due to the various stages involved and the long time period taken for each of these stages, drugs take a long period to enter the market. Key Takeaways: The global biotechnology market was valued at US$ 518.3 Bn in 2019 and is forecast to reach a value of US$ 1,303.1 Bn by 2027 at a CAGR of 12.3% between 2020 and 2027. Increasing investment in research and development of vaccines is expected to drive the market growth during the forecast period. Biopharmaceutcal segment held dominant position in the global biotechnology market in 2019, accounting for 57.1% share in terms of value, increasing demand for biopharmaceuticals for treatment of chronic diseases is expected to drive the growth of the segment during the forecast period. Request a Sample copy of this reports : https://www.coherentmarketinsights.com/insight/request-sample/4025 © Coherent market Insights. All Rights Reserved

4. REPORT DESCRIPTION Market Trends Launch of novel antibody tests is boosting growth of the market. For instance, in September 2019, bioLytical Laboratories launched the INSTI HIV-1 / HIV-2 Antibody Test in Canada. The market is witnessing increasing launch of generics. For instance, in September 2019, Endo International received the U.S. FDA approval for its generic version of Syprine, a drug used for the treatment of Wilson's disease. Global Biotechnology Market: Competitive Landscape Major players operating in the global Biotechnology market include, Abbott Laboratories, Amgen Inc., GlaxoSmithKline, Johnson and Johnson, Merck, Novartis, Novo Nordisk, Pfizer, Inc., Roche, and Sanofi – Aventis. January 2020: GlaxoSmithKline plc funded study ‘Meningococcal B Vaccine and Meningococcal Carriage in Adolescents in Australia’, published in the New England Journal of Medicine, reported that the 4CMenB vaccine had no discernible effect on the carriage of disease-causing meningococci, including group B among Australian adolescents. June 2019: Ethicon, part of the Johnson & Johnson Medical Devices Companies, received a 510(k) clearance from the FDA for its Vistaseal applicators, which spray a biological sealant to stem moderate bleeding during open or laparoscopic surgical procedures. Buy-Now this research report: https://www.coherentmarketinsights.com/insight/buy-now/4025 © Coherent market Insights. All Rights Reserved

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6. ABOUT CMI SECTOR COVERAGE BIOTECHNOLOGY CLINICAL DIAGNOSTIC HEALTHCARE IT MEDICAL DEVICES MEDICAL IMAGING PHARMACEUTICAL OUR CLIENTS  Global Leading Equipment and System Manufacturers  Marketing Consultancies and the Advertising Industry  Component Providers and System Integrators  Private and Government organization  Distributors, Retailors and Value Added Resellers  Outsourcing Companies  Healthcare IT Solutions Developers  Universities and Business Schools. © Coherent market Insights. All Rights Reserved

7. KEY STATS RESEARCH SOLUTIONS 100+ GLOBAL REPORTS FEASIBILITY STUDIES Insights Published Per Year CUSTOMIZED SOLUTIONS 150+ COUNTRY ANALYSIS Consulting Projects Till Date CONSULT PROJECTS SURVEY RESEARCH 125+ EXCEL FORECAST DATABASE Clients Worldwide Per Year COMPETITIVE ASSESSMENT TECHNOLOGY SNIPPETS 110+ Analysts and Contract Consultants Coherent Market Insights excels at offering unmatched actionable market intelligence across various industry verticals, including chemicals, healthcare, and food & beverages, to name a few. We implement holistic market research methodology in order to result in the best possible market research reports across various industries worldwide. Based on our unmatched expertise across various industries—no matter how large or small, how complex or unique—we help our clients achieve better outcomes with uniquely designed and highly customized solutions. Our coverage includes insights that help our clients ensure sustained growth in developed markets and also key inputs to help them tap into emerging markets and exploit the plethora of opportunities posed therein. © Coherent market Insights. All Rights Reserved

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