Global biotechnology market size is expected to reach USD 604.40 billion by 2020, according to a new report by Grand View Research, Inc

1. Biotechnology Market Size To Reach $604.40 Billion By 2020
Global biotechnology market size is expected to reach USD 604.40 billion by
2020, according to a new report by Grand View Research, Inc. Increasing demand
for biotechnology based diagnostics and therapeutics solutions such as
recombinant technology, red biotechnology and DNA sequencing is expected to
serve as a high impact rendering driver during the forecast period.
The presence of government funded institutions such as the NBTB (National
Biotechnology Board) and DBT (Department of Biotechnology) are carrying out
R&D and product development exercises pertaining to this field.
Application of biotechnological processes such as genetic engineering and genetic
modification (GM) in agricultural and food products to meet the demand of the
booming population is expected to encourage R&D. Biotechnology plays an
integral role in catering to the ever increasing agricultural demands.
The U.S. biotechnology market revenue by application, 2012-2020, (USD Million)
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2. Tissue engineering and regeneration held approximately 33.0% of the overall
market owing to, the wide applications of tissue engineering in cell organs which
have lost their functionality. Moreover, increasing incidence rates of Parkinson’s
and Alzheimer’s is another vital driver of this industry as tissue regeneration
technology helps repair damaged cells.
DNA sequencing is expected to be fastest growing segment over the forecast
period as a consequence of their wide applications in different verticals such as
agriculture, biology, medical and geology. Declining costs will further improve
accessibility over the forecast period.
The application of biotechnology in the field of biopharmaceuticals generated the
largest revenue in 2014. The market for biopharmaceuticals was valued at over
USD 180.0 billion in the year. Biopharmaceuticals are further sub segmented into
advanced drugs, orphan drugs, monoclonal antibodies and recombinant proteins.
Bioservices market is expected to witness the fastest growth over forecast period
owing to, the rising clinical research activities undertaken by various
pharmaceutical and biotechnological organizations. In addition, the rising demand
for cost cutting, implementation of stringent government regulations and
increasing complexity of biotechnological processes are some key drivers of this
segment.
North America accounted for the largest share of the overall industry in 2013 with
revenue over USD 113 billion, as a result of increasing R&D initiatives undertaken
in the fields of biopharmacy and agriculture. The use of biotechnology tools for
energy generation will also boost penetration rates during the forecast period.
Asia Pacific is expected to gain lucrative revenue share over the forecast period
and is expected to register an annual growth of 14.0%. Rising awareness levels and
government initiatives to improve healthcare infrastructure are likely to drive
regional market growth.
Biotechnology players are classified based on the nature of their clientele. Key
biotechnology players include Invitrogen, Cubist Pharmaceutical, Regeneron,

3. Novo Nordisk, Amgen, Teva Pharmaceutical Industries, Roche Diagnostics, and
Alkermes.
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