The global biotechnology services market will grow to over $ 151 billion by 2022, with a CAGR of 17.0%

The global biotechnology services market will grow to over $ 151 billion by 2022, with a CAGR of 17.0%

Company logo

Global biotechnology services market

Global biotechnology services market

Global biotechnology services market

Dublin, April 27, 2022 (GLOBE NEWSWIRE) – The “Biotechnology Services Global Market Report 2022” has been added to by ResearchAndMarkets.com offering.

The global biotechnology services market is expected to grow from $ 129.14 billion in 2021 to $ 151.10 billion in 2022 with a compound annual growth rate (CAGR) of 17.0%. The market is expected to reach $ 267.29 billion in 2026 with a CAGR of 15.3%.

The major players in the biotechnology services market are Novartis, Fisher BioService, Pfizer, Novo Nordisk, BioAlps, Precision for Medicine, Sartorius, and Aldevron.

The biotechnology services market consists of the sale of biotechnology services and related goods by entities (organizations, sole proprietorships and partnerships) that carry out research and experimental development in the field of biotechnology. Only goods and services exchanged between entities or sold to final consumers are included.

The main types of biotechnology services are disease prevention and control, public engagement activities, health education and research, food biotechnology services, donor recruitment, tissue harvesting, treatment and cell isolation and research and development.

Food biotechnology services encompass a wide range of technologies used in crops, livestock, forestry, fisheries and aquaculture and agro-industry. They are used for a variety of purposes, including the genetic improvement of plants and animals to increase yields or efficiency, the characterization and conservation of genetic resources for food and agriculture, the diagnosis of plant and animal diseases. animals, vaccine development and fermented food production.

The various applications include the pharmaceutical, biotechnology, academic, clinical and healthcare industries and are used by clinical research organizations (CROs), contract manufacturing organizations (CMOs), and contract research and manufacturing services (CRAMS).

Asia Pacific was the largest region in the biotechnology services market in 2021. North America was the second largest region in the biotechnology services market.

The growing pervasiveness of diseases such as hepatitis B, diabetes and cancer is driving research in the field of biotechnology. Biotechnology uses research tools from biology and chemistry to study the genetic material of bacteria and viruses to control the agent that produces the disease. Cancer research is more important among biopharmaceutical companies.

Stem cell treatment, using a monoclonal antibody for genome sequencing and therapy, is advancing in medical applications. According to the Indian Economic Survey 2021, India’s biotech business was worth $ 64 billion in 2019 and is expected to grow to $ 150 billion by 2025.

The global R&D spending of the largest publicly traded biotech companies has increased by 13.7% annually, from $ 4.8 billion in 2001 to $ 55.0 billion in 2020. of diseases and the enormous expenditure on research and development will contribute to the growth of the biotechnology services market.

Collaborations and partnerships between industry players are a growing trend in the field of biotechnology services. In December 2019, Interpace Pharma, a subsidiary of Interpace Biosciences, which deals with pharmacogenomics testing, genotyping and biorepository services, partnered with Genecast Biotechnology Co. Ltd to develop, promote and jointly offer translational studies and solutions. of clinical trials to industry.

This partnership is expected to benefit pharmaceutical and biotech companies to accelerate the development of biomarker-driven drugs and precision medicine. Genecast is a Chinese company that provides a wide range of diagnostic services to pharmaceutical and biotech companies.

The risk related to genetic data is expected to limit the growth of the biotechnology services market. The biotechnological approach of transferring genes specifically created for the modification of characteristics to create genetically modified organisms (GMOs) has always been considered a threat to human and environmental health.

According to the World Conservation Union report, there are numerous environmental risks that can arise from the use of GMOs, which include crossbreeding, antibiotic resistance, impact on the ecosystem, creation of new or worse viruses, competition with natural species, unpredictability and effects. unwanted and ethical concerns.

The World Health Organization (WHO) has also established guidelines for producers of GMO foods. The National Bioengineered Food Disclosure Standard has been implemented in the United States since January 2020 making it mandatory to label all foods containing genetically modified items to be labeled as “bioengineered”. Therefore, the risk associated with genetically modified items has a negative impact on the growth of the biotechnology services market.

Key topics covered:

1. Executive summary

2. Characteristics of the biotechnology services market

3. Trends and strategies of the biotechnology services market

4. Impact of COVID-19 on biotechnology services

5. Size and growth of the biotechnology services market
5.1. Historic Global Biotechnology Services Market, 2016-2021, USD Billion
5.1.1. The market drivers
5.1.2. Market restrictions
5.2. Global Biotechnology Services Forecast Market, 2021-2026F, 2031F, Billion USD
5.2.1. The market drivers
5.2.2. Market restrictions

6. Market segmentation of biotechnology services
6.1. Global Biotechnology Services Market, Segmentation by Service, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD

  • Disease prevention and control

  • Public involvement activities

  • Health education and research

  • Food biotechnology services

  • Donor recruitment

  • Collection of fabrics

  • Cell processing and isolation

  • Research and development

6.2. Global Biotechnology Services Market, Segmentation by Sector, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD

  • Clinical Research Organizations (CROs)

  • Contract Producer Organizations (CMOs)

  • Contract Research and Manufacturing Services (CRAMS)

6.3. Global Biotechnology Services Market, Segmentation by Application Area, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion

  • pharmaceutical

  • Biotechnological

  • Academic

  • Clinical test

  • Healthcare sectors

7. Regional and national analysis of the biotechnology services market
7.1. Global Biotechnology Services Market, By Region, Historic And Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
7.2. Global Biotechnology Services Market, By Country, Historic And Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD

Companies mentioned

  • Novarti

  • Fisher BioService

  • Pfizer

  • Novo Nordisk

  • BioAlpi

  • Precision for medicine

  • Sartorio

  • Aldevron

For more information on this report, please visit https://www.researchandmarkets.com/r/14xhrl

Attached

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

Leave a Comment

Your email address will not be published.