Biotechnology market Expected to Deliver Dynamic Progression until 2022

  • The global market for cancer cell analysis should reach $10.8 billion by 2023 from $7.4 billion in 2018 at a compound annual growth rate (CAGR) of 7.8% for the period of 2018-2023.
  • The global market for genetic modification therapies should grow from $2.3 billion in 2018 to reach $17.4 billion by 2023, growing at a compound annual growth rate (CAGR) of 49.9% during the forecast period of 2018-2023.
  • The global immunohistochemistry market totaled $1.6 billion in 2017 and is estimated to reach $2.3 billion by 2022, growing at a compound annual growth rate (CAGR) of 7.8% for the period of 2017-2022.

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Summary

Several significant developments have aided and accelerated development and growth of markets in biotechnology, in the period of review. Notable recent advancements in biotechnology are CRISPR, Spheroids for drug development, Quantitative Cell Based Assay using high content analysis platform and Luciferase based high-throughput screening assay. Such technologies assure the wide adoption of cell line technologies for drug development, simplify the gene editing process making it cost-effective.

Companies operating in cell line market are investing huge amount in setting up manufacturing units with advanced state of art facility and expanded production facilities.

Gene therapy technology has opened new avenues which places emphasis on curing disease that do not have an effective therapeutic availability. Johnson & Johnson, together with the University of Pennsylvania, is developing a third-generation AAV-based gene therapy for Alzheimer’s disease. The goal is to use AAV viral delivery to initiate the expression of therapeutic anti-Alzheimer’s antibodies in the brain. The research represents a novel way to get biologics into the brain to treat Alzheimer’s disease and other brain diseases. This is expected to pave way for further innovations in AAV-based gene therapy.

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