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The biotechnology market is a dynamic and growing industry encompassing various sectors, including biologics, biosimilars, genetic testing, and biochemicals. This comprehensive report delves into the market size, forecast, trends, and competitive landscape of this sector from 2024 to 2028. The report covers the market's expansion across applications such as healthcare, agriculture, industry, and environment. Biologics, a significant segment, comprises therapeutic proteins, monoclonal antibodies, and gene therapies. Biosimilars, an emerging category, offers cost-effective alternatives to branded biologics. Genetic testing, a crucial application, enables early disease detection and personalized treatment plans. Biochemicals, another essential component, are used in various industries, including pharmaceuticals, agriculture, and food processing. The report also provides insights into the key players, their strategies, and the competitive landscape in this market.
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Market Report Highlights
| Market Size | USD X.XX Billion |
| Market Growth | X.XX% |
| Product Type |
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| Application |
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| Regional Landscape |
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| Key Companies Profiled |
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Market Report Insights
Technavio’s industry reports offer qualitative and quantitative analysis of historical data as well as a comprehensive market forecast. They examine key factors such as market drivers, challenges, and emerging trends, and provide detailed information on the global competitive landscape. Also included is a breakdown of the types of products available on the market, along with a region-by-region analysis of market growth and opportunities.
Market Segmentation
Market Segmentation by Product
1.1 Biologics: Biologics, a significant product segment in the biotechnology industry, comprises therapeutic proteins, monoclonal antibodies, and gene therapy. The increasing prevalence of chronic diseases and the rising demand for personalized medicine are key growth drivers for this segment.
1.2 Biosimilars: Biosimilars, which are biologically similar to original biologic drugs, are another crucial product type. Their lower production costs and the expiry of patents for several biologics are expected to fuel the growth of the biosimilars market.
Type 2: Market Segmentation by Application
2.1 Healthcare: The healthcare sector is the largest application segment for biotechnology, driven by the increasing prevalence of chronic diseases and the growing demand for advanced diagnostic and therapeutic solutions.
2.2 Agriculture: The agricultural application segment is witnessing significant growth due to the increasing adoption of genetically modified organisms (GMOs) and biotechnology-based solutions for enhancing crop productivity and improving food quality.
Type 3: Market Segmentation by Industry
3.1 Pharmaceuticals: The pharmaceutical industry is a major consumer of biotechnology products, with the increasing focus on research and development of new therapeutics and the growing demand for personalized medicine driving market growth.
3.2 Industrial Biotechnology: Industrial biotechnology, which includes applications in the production of biofuels, bioplastics, and biochemicals, is expected to witness significant growth due to the increasing demand for sustainable and eco-friendly alternatives to traditional chemical processes.
Regional Analysis
Geographically, North America and Europe are expected to remain the largest markets for biotechnology, driven by robust healthcare systems, strong research and development capabilities, and significant investments in biotechnology. However, emerging economies in Asia Pacific and Latin America are expected to witness the fastest growth due to increasing investments in research and development, growing healthcare sectors, and favorable government policies.
Competitive Landscape
This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions.
Biogen (NASDAQ: BIOG) is a leading biotechnology company, focusing on the development, manufacturing, and commercialization of therapies for neurological and neurodegenerative diseases. With a robust pipeline and a strong market presence, Biogen is poised to continue its growth trajectory.
Amgen Inc. (NASDAQ: AMGN) is a renowned biotechnology company, specializing in the discovery, development, manufacturing, and commercialization of human therapeutics. Amgen's extensive portfolio covers various therapeutic areas, including oncology, cardiovascular disease, bone health, and neuroscience.
Market Dynamics
The Biotechnology Market Size is projected to experience significant growth between 2024 and 2028, driven by the increasing demand for advanced healthcare solutions and agricultural applications.In terms of products, the biologics segment is expected to dominate the market due to the increasing demand for advanced therapeutics in healthcare applications. Biosimilars are also gaining traction as cost-effective alternatives to branded biologics, leading to a growing market share.
In the application sector, healthcare is currently the largest market for biotechnology, with a significant focus on gene therapy, stem cell research, and personalized medicine. However, the agriculture and industry sectors are also expected to experience notable growth, particularly in the areas of biofuels, biopesticides, and bioremediation.
FAQ
FAQ 1: What is the size and forecast of the global biotechnology market from 2024 to 2028?
Answer: The global biotechnology market size was valued at approximately USD 700 billion in 2023 and is projected to reach over USD 1.5 trillion by 2028, growing at a CAGR of around 15% during the forecast period.
FAQ 2: Which are the major product segments in the biotechnology market?
Answer: The biotechnology market is segmented into Biologics, Biosimilars, Genetic Testing, and Biochemicals. Biologics held the largest market share in 2023, accounting for over 50% of the total revenue.
FAQ 3: In which applications is the biotechnology market finding significant growth?
Answer: The healthcare sector is the major application segment of the biotechnology market, accounting for over 60% of the total revenue in 2023. The agriculture and industry applications are also expected to witness substantial growth during the forecast period.
FAQ 4: Which geographies are expected to dominate the biotechnology market in the coming years?
Answer: North America and Europe are the largest markets for biotechnology, accounting for over 60% of the global revenue in 2023. Asia Pacific is expected to witness the fastest growth during the forecast period due to the increasing investment in the sector and growing demand for biotechnology products.
FAQ 5: Who are the key players in the biotechnology market?
Answer: Some of the major players in the biotechnology market include Abiogenic, Amgen, AstraZeneca, Biogen, Bristol-Myers Squibb, Eli Lilly and Company, Gilead Sciences, Merck & Co., Novartis, Pfizer, and Sanofi.
FAQ 6: What are the major trends shaping the biotechnology market?
Answer: Some of the major trends shaping the biotechnology market include the increasing demand for personalized medicine, the growing adoption of gene therapy, the rising investment in research and development, and the increasing focus on biodegradable and sustainable bioproducts.
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Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 Dietary supplements market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)
- 4.2 Distribution Channel Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)
- 4.3 Product Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Distribution Channel
- 6.1 Market segments
- Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)
- 6.2 Comparison by Distribution Channel
- Exhibit 31: Chart on Comparison by Distribution Channel
- Exhibit 32: Data Table on Comparison by Distribution Channel
- 6.3 Offline - Market size and forecast 2023-2028
- Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)
- 6.4 Online - Market size and forecast 2023-2028
- Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Distribution Channel
- Exhibit 41: Market opportunity by Distribution Channel ($ billion)
- Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)
7 Market Segmentation by Product
- 7.1 Market segments
- Exhibit 43: Chart on Product - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Product - Market share 2023-2028 (%)
- 7.2 Comparison by Product
- Exhibit 45: Chart on Comparison by Product
- Exhibit 46: Data Table on Comparison by Product
- 7.7 Others - Market size and forecast 2023-2028
- Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)
- 7.8 Market opportunity by Product
- Exhibit 67: Market opportunity by Product ($ billion)
- Exhibit 68: Data Table on Market opportunity by Product ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 72: Chart on Geographic comparison
- Exhibit 73: Data Table on Geographic comparison
- 9.6 Market opportunity by geography
- Exhibit 74: Market opportunity by geography ($ billion)
- Exhibit 75: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 76: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 77: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 78: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 79: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 80: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 81: Matrix on vendor position and classification
- 13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 82: Inclusions checklist
- Exhibit 83: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 84: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 85: Research methodology
- Exhibit 86: Validation techniques employed for market sizing
- Exhibit 87: Information sources
- 13.5 List of abbreviations
- Exhibit 88: List of abbreviations