The German biotechnology market is anticipated to grow at a CAGR of 7.5% during the forecast period. The country has a strong presence of biology labs such as the Institute of Applied Microbiology, Berlin Institute of Technology, LOEWE Center for Synthetic Microbiology Marburg, and Ansbach University of Applied Sciences. In addition to this, a large number of global as well as domestic biotech companies are active in the country. Hence, the aforementioned factors are anticipated to significantly influence the market growth.
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Additionally, the considerable application of biotechnology in the agriculture and animal husbandry sector of the country is also aiding to the growing market shares. The high spending on drug R&D by the country is also aiding to the growth of the market. As per the European Federation of Pharmaceutical Industries and Associations, around $8.3 billion was invested in pharmaceutical in 2017 in drug R&D in the country.
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Germany Biotechnology Market Segmentation
- Bayer AG
- BASF SE
- Biomax Informatics AG
- BioNTech SE
- Boehringer Ingelheim
- GlaxoSmithKline plc
- Milltenyi Biotech GmbH
- Novo Nordisk A/S
- Qiagen N.V.
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