Biotechnology is the branch of technology which harnesses various biological processes to develop products and technologies useful in research, clinic, industrial and agriculture industry. Biotechnology as a science has been there for more than 6000 years since humans first carried out microbial fermentations process to prepare breads, cheese and wines. However, it has gained more relevance with its growing importance in pharmaceutical, agriculture and industrial sectors, and accordingly it can be divided into biopharmaceutical, bioagri, bioindustrial and bioservices. Of these segments, biopharmaceutical is major segment holding more than half of the biotechnology market. Biopharmaceutical is witnessing growth owning to increase in public and private funding and technological advancements. In bioagriculture segment the growth will be primarily propelled by increasing demand of bioseeds which offer better yield over conventional seeds.
Biopharmaceuticals uses various biotechnological methods such as recombinant DNA (rDNA), hybridoma technology and purification to produce various pharmaceutical products. All of these pharmaceutical products are forms of proteins made up of nucleic acids and they are utilised for treatment of various chronic and rare diseases where no other treatments are available.
Biotechnology market has a huge potential, majorly driven by supportive regulations governing biotechnology R&D and applications, emergence and growth of biosimilar drugs and increasing application of biotechnology in medical science. Conversely, there are some concerns such as ethical issues pertaining to clinical trials and longer lead time for research which are expected to undermine growth of biotechnology industry.
Biotechnology market is witnessing an emerging trend for outsourcing, especially in the biopharmaceutical sector, wherein companies are partnering with contract manufacturing organizations (CMOs) majorly located in Asian countries like China, India and Thailand where talent is available at cheaper rate.
ASDReport.com has an extensive collection of reports available on general biotechnology and various other advanced technologies of biotechnology sector like, vaccines, cell therapy, biomaterials, biosimilars, RNAi, biomarkers, 3D cell culture, next-gen biology, DNA analytics/genomics and much more.