Biotechnology Market is Expected to Reach USD 3,164.89 Billion By 2030 – Reports and Data

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The global Biotechnology Market is forecasted to reach USD 3,164.89 Billion by 2030, according to a new report by Reports and Data. The market is growing due to the rise in demand for horticulture products, such as beans, and wheat, among others. The growth in artificial intelligence in biotechnology products is making significant breakthroughs in the field of technology, which is propelling market demand. An increase in conditions like cancer and diabetes will also impact the growth of the biotechnology market.

An increase in demand for agro-based products such as sugarcane, wheat corn, and sorghum and the need for biotech innovation in technical research will fuel market growth. The rise in chronic disorders and the need for drug discovery has propelled the demand for the product. Biotechnology drugs are mainly required for diseases such as cancer, heart stroke, hypertension, asthma. Apart from the usage in the healthcare sector, biotechnology is increasingly used in growing organic food products, which is contributing to market development. Innovation in artificial intelligence and several pipeline projects by biopharmaceutical companies will impact the growth of the market.

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Top Companies Profiled in the Report:

  • ilead
  • AstraZeneca
  • Biogen
  • Celgene Corporation
  • Abbott
  • Novo Nordisk A/S
  • Amgen
  • Johnson & Johnson Services
  • Merck & Co
  • Novartis AG
  • others

Types :

  • Instruments
  • Reagents
  • Software & Services

Applications :

  • Food & Agriculture
  • Industrial Processing
  • Health
  • Natural Resources & Environment
  • Bioinformatics
  • Others

The global pharma & healthcare market revenue growth majorly driven by factors such as increasing prevalence of chronic and acute illnesses around the world, substantially growing patient pool, rise in demand for personalized medicine, increasing pharmaceutical and biotechnological research & development projects, and rapid incorporation of emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), big data analytics, robotics, and blockchain in healthcare. Rising cases of COVID-19 worldwide, surge in demand for advanced healthcare services during the COVID-19 pandemic, growing trends of telehealth and telemedicine, rising demand for advanced point-of-care diagnostics, and increasing government and private funding for development of COVID-19 vaccines are other key factors driving market revenue growth. Furthermore, increasing investments in new drug discovery & development and rising government focus on reinforcing the healthcare supply chain to meet growing medical needs are factors boosting revenue growth of this market.

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Table of Contents (ToC) – Global Biotechnology Market

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary Sources

1.4.2. Secondary Sources

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2020-2030

Chapter 3. Key Insights

Chapter 4. Global Pharma & Healthcare Market Segmentation

4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers’ analysis

4.2.3. Market restraints analysis

4.3. Technological Insights

4.4. Porter’s Five Forces Analysis

4.5. Regulatory Framework

4.6. Price trend Analysis

4.7. Competitive Metric Space Analysis

Key Regional Markets Covered in the Report:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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