Biotechnology is defined as the area of biology which uses living organisms and biological systems to develop or modify processes and products for specific use. Biotechnology deploys cellular processes and biomolecular processes and technologies for improvement of human life quality. Biotechnology widely used in medicine, agriculture and food industry.
Increase in incidence of persistence conditions like cancer and diabetes is key driving factor which is expected to boost the global biotechnology market growth. Furthermore, organizations are focusing on development of novel techniques and their implementation by collaborating with other organizations such as Department of Biotechnology together with government funded institutions and other autonomous organizations representing the biotechnology industry to promote funding to support research and development and new drug development processes will positively contribute the market growth in near future. Moreover, increase in demand for food and agricultural products such as rice, beans, and wheat owing to growing population base various countries like U.S, India, and China is expected to drive the market growth.
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However, a risk associated with genetic information is the major restraining factor which is expected to hamper the global biotechnology market growth.
Global Biotechnology Market is segmented into technology such as Fermentation, Tissue Engineering and Regeneration, PCR Technology, Nano-biotechnology, Chromatography, DNA Sequencing, Cell Based Assay, and others. Further, market is segmented into application such as Biopharmacy, Bioservices, Bioagriculture, Bioindustries, and Bioinformatics.
Also, Global Biotechnology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market key Players
Various key players are discussed into this report such as Agilent Technologies, Thermo Fisher Scientific, Qiagen, PerkinElmer, Merck, Abbott Laboratories Illumina, F. Hoffmann-La Roche, Danaher, BioGen Medical Instruments,, and Bio-Rad Laboratories
- Tissue Engineering and Regeneration
- PCR Technology
- DNA Sequencing
- Cell Based Assay
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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