The Biotechnology Services by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biotechnology Services, The biotechnology services market size has grown strongly in recent years. It will grow from $126.58 billion in 2023 to $133.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased collaborations with other research institutes and companies, and increased demand for food.
The biotechnology services market size is expected to see strong growth in the next few years. It will grow to $163.12 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to the rapid advancements in technology, rising non-communicable diseases, emphasis on innovation, rising demand for agriculture-based biotechnology services, growing demand for synthetic biology, developments and improvements in drug research, growth in personalized treatment, and collaboration and partnership. Major trends in the forecast period include strategic collaborations to boost innovations and discoveries, integrating data management systems through cloud technology, development of next-generation sequencing technology to utilize machine learning and artificial intelligence, adapting digitalizing techniques in conducting clinical trials, implementing automated solutions to enhance productivity and consistency in the diagnostic process effectively, techniques, processes and products that help to produce higher agricultural yields in a shorter duration, deploy artificial intelligence technologies to offer enhanced products and solutions, and investment in synthetic biology to develop products and solutions to address issues of human medicine, robust food supplies, fine chemicals, and renewable energy.
The increasing pervasiveness of conditions like hepatitis B, diabetes, and cancer is driving research in biotechnology. Biotechnology uses research tools from biology and chemistry to study the genetic material of bacteria and viruses to check the disease-producing agents. Oncology research is most prominent among biopharma companies. Stem cell treatment using a monoclonal antibody for therapy and genome sequencing is progressing in medical applications. According to the Indian Economic Survey 2021, the Indian biotechnology business is predicted to grow to US$ 150 billion by 2025. Therefore, the rising pervasiveness of diseases and huge expenses on R&D are predicted to contribute to the growth of the biotechnology services market.
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The biotechnology services market covered in this report is segmented –
1) By Service: Prevention And Disease Control, Public Engagement Activities, Health Education And Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing And Isolation, Research And Development
2) By Industry: Clinical Research Organizations (CROS), Contract Manufacturers Organizations (CMOS), And Contract Research And Manufacturing Services (CRAMS)
3) By Area Of Application: Pharmaceutical, Biotechnology, Academic, Clinical Trial, Healthcare Sectors, Others
Collaborations and partnerships between industry players are a growing trend in the field of biotech services. In January 2021, Novartis, a Switzerland-based pharmaceutical company collaborated with Alnylam, a US-based biopharmaceutical company for exploration in the application of the latter’s siRNA technology and the development of targeted therapy for the restoration of liver function. As part of the exclusive three-year research collaboration, Alnylam will develop and test potential siRNAs using Novartis' target-specific assays. Novartis will conduct further development and clinical research once a lead candidate has been identified.
The biotechnology services market report table of contents includes:
- Executive Summary
- Biotechnology Services MarketCharacteristics
- Biotechnology Services MarketTrends And Strategies
- Biotechnology Services Market- Macro Economic Scenario
- Global Biotechnology Services MarketSize and Growth
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- Global Biotechnology Services MarketCompetitive Benchmarking
- Global Biotechnology Services MarketCompetitive Dashboard
- Key Mergers And Acquisitions In Biotechnology Services Market
- Biotechnology Services MarketFuture Outlook and Potential Analysis
- Appendix
Top Major Players :
- Parexel International Corporation
- Thermo Fisher Scientific
- Laboratory Corporation of America Holdings
- IQVIA
- ICON PLC
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe Biotechnology Services Global Market Report 2020-30 by The Business Research Company describes and explains the global biotechnology services market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Biotechnology Services Global Market Report 2021 covers biotechnology services market drivers, biotechnology services market trends, biotechnology services market segments, biotechnology services market growth rate, biotechnology services market major players, and biotechnology services market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/biotechnology-services-global-market-report-2020-30-covid-19-growth-and-changeThe biotechnology services market report provides an in-depth analysis of the impact of COVID-19 on the global biotechnology services industry, along with revised market numbers due to the effects of the coronavirus and the expected biotechnology services market growth numbers 2021-2030.Biotechnology Services Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=3499=smpThe global biotechnology services market is expected to grow from $150.37 billion in 2020 to $163.92 billion in 2021 at a compound annual growth rate (CAGR) of 9%.
The market is expected to reach $265.1 billion in 2025 at a CAGR of 12.8%.The report covers the biotechnology service market segments-1) By Service: Prevention and Disease Control, Public Engagement Activities, Health Education and Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing and Isolation, Research and Development.2) By Industry: Clinical Research Organizations (CROs), Contract Manufacturers Organizations (CMOs), Contract Research And Manufacturing Services (CRAMS).3) By Area of Application: Pharmaceutical, Biotechnological, Academic, Clinical Trial, Healthcare Sectors.About The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally.
