The global red biotechnology market accounted for US$ 353.1 billion in 2019 and is estimated to be US$ 584.8 billion by 2029 and is anticipated to register a CAGR of 5.2%
Companies involved in red biotechnology continues to manufacture innovative goods and invest in related clinical studies to obtain regulatory support. Red biotechnology innovations relay on an essential strategy that will create profit for rivals.
The report "Global Red Biotechnology Market, By Application (Biopharmaceutical Manufacture, Pharmacogenomics, Gene Therapy, and Genetic Testing), By End-user (Biopharmaceutical Business, Research Organizations, CMOs & CROs, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
• In June Pfizer Inc. announced the establishment of the Pfizer Breakthrough Growth Initiative. Through this initiative, Pfizer will invest up to US$500 million in biotechnology companies to help provide funding and access to Pfizer’s scientific expertise to ensure continuity of the biotechnology companies’ most promising clinical development programs.
• In April 2020, Amgen and Adaptive Biotechnologies announced a collaboration aimed at helping address the COVID-19 pandemic. The companies will combine expertise to discover and develop fully human neutralizing antibodies targeting SARS-CoV-2 to potentially prevent or treat COVID-19. The mutually exclusive collaboration brings together Adaptive's proprietary immune medicine platform for the identification of virus-neutralizing antibodies with Amgen's expertise in immunology and novel antibody therapy development.
Analyst View:
Increasing demand for therapeutics to drive new potentials
The increasing prevalence of chronic diseases is fascinating researchers to develop advanced drugs and therapeutics that are proficient in battling chronic and progressive diseases. Further, due to continuous developments in therapeutics for an array of diseases, and perpetual efforts towards effective R&D for drug development, product approvals by international regulatory bodies are obtaining major traction, thus driving developments in the red biotechnology market.
Substantial investments in the healthcare sector
There is an incessantly rising buoyancy for supporting industries in the biotech sector, including health service firms. Healthcare start-ups are admiring intensely for investors, principally in areas such as biotechnology. The healthcare industry, as a whole, has cited that dollars of investments and higher valuations are likely to stay consistent throughout the forecast period, giving an edge to research activities for biopharmaceutical production.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Red Biotechnology Market”, By Application (Biopharmaceutical Manufacture, Pharmacogenomics, Gene Therapy, and Genetic Testing), By End-user (Biopharmaceutical Business, Research Organizations, CMOs & CROs, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global red biotechnology market accounted for US$ 353.1 billion in 2019 and is estimated to be US$ 584.8 billion by 2029 and is anticipated to register a CAGR of 5.2%. The market report has been segmented on the basis of application, end-user, and region.
• By application, the biopharmaceutical manufacturer segment is projected to account for a major market share in the red biotechnology market. Rising incidence and prevalence of chronic and rare diseases and rapid expansion of the biopharmaceutical industries are the key propelling factors in the biopharmaceutical manufacturer segment.
• By end-user, the target market is segmented into biopharmaceutical businesses, research organizations, CMOs & CROs, and others.
• By region, North America estimates for the highest share of the global red biotechnology market in 2018. The region is projected to continue its dominance in the global red biotechnology market in the coming years. A higher rate of adoption of new diagnostics and therapeutics along with the growing demand for efficient drug products is expected to fuel the red biotechnology market in North America.
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Competitive Landscape:
The prominent player operating in the global red biotechnology market includes Biogen Inc., Pfizer, Inc., Amgen Inc., AstraZeneca Plc., CELGENE CORPORATION, Gilead Sciences, Inc., F. Hoffmann-La Roche, Ltd., Regeneron Pharmaceuticals, Inc., Merck KGaA, and Takeda Pharmaceutical Company Limited.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
1. Introduction
• Study Deliverables
• Study Assumptions
• Scope of the Study
2. Research Methodology
3. Executive Summary
• Opportunity Map Analysis
• Market at Glance
• Market Share (%) and BPS Analysis, by Region
• Competitive Landscape
• Heat Map Analysis
• Market Presence and Specificity Analysis
4. Investment Analysis
5. Competitive Analysis
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