The global biotechnology market is growing at a significant CAGR of around 6.1% during the forecast period (2020-2026). The market is driven by the growing healthcare spending and increase in demand for food security. With the growing demand for food security, the demand for genome editing tools has been significantly increasing to improve crop yield. Genome editing tools is considered as an advanced biotechnological method that allows accurate and efficient targeted modification of an organism’s genome. It can be implemented on a wide range of plant species to improve agricultural traits and characterize gene functions. These factors offer growth to the biotechnology in crop production and agriculture application.


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Biotechnology finds significant application in healthcare application. The biotechnology deals with the study of genes. From the various global research, it has been found that the field of biotechnology is getting greatly dependent on the tissue diagnosis. The progress of modern research in medical areas such as diffuse lung disease and cancer ultimately requires access by researchers to great quality specimens of human tissue including bodily fluids. Many organizations are now involved in collecting, processing, distribution, and storage of human tissues to aid investigators in biomedical research. This has led to remarkable developments in the field of medicine.

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Moreover, the market growth is attributed to the increasing application of synthetic biology in a wide range of sectors and increasing investments in the field of synthetic biology. The companies are using synthetic biology for accelerating the search for potential COVID-19 vaccine. For instance, Synthetic biology company, Ginkgo Bioworks is bringing its R&D experience into the fight against the spread and is speeding up the development of a vaccine by working together with the different teams who are working on an inoculation. The company in March 2020 announced to collaborate with researchers at the Department of Bioengineering of Stanford University and use its DNA design and synthesis capabilities for building DNA that will enable researchers to express these viral proteins (on which the vaccines against COVID-19 rely). This assist in the growth of the synthetic biology, which in turn, will offer growth to the biotechnology market during the forecast period.

Global Biotechnology Market– Segmentation
By Application 
Food and Beverages
Chemical
Pharmaceutical
Others
Global Biotechnology Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles

Abbott Laboratories
AbbVie Inc.
ADOCIA
Alere Inc.
Alkermes PLC
Amgen Inc.
AstraZeneca PLC
BIOCAD
Biogen Inc.
Bristol-Myers Squibb Co.
CSL Ltd.
F. Hoffmann La-Roche Ltd.
Galapagos NV
Johnson & Johnson Services Inc.
Merck & Co., Inc.
Miltenyi Biotec B.V. & Co. KG
Novartis AG
Novo Nordisk A/S
Pfizer Inc.
Regeneron Pharmaceuticals, Inc.
Sanofi SA
Thermo Fisher Scientific Inc.

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