The biotechnology market is estimated to witness sizable growth by 2027 due to rising incidences of chronic ailments and expanding application scope of biotechnology in treating a plethora of different diseases and disorders.

Recent advancements in biotechnology, such as CRISPR/Cas, and other novel technologies, are facilitating further research & development and commercialization of new sustainable offerings, thereby supporting industry expansion in both established and niche markets.

Biotechnology is also projected to create promising solutions for wastewater treatment, especially through treatment and monitoring processes. Biotreatment methods are key for formulating practical solutions for wastewater management.

Recently, the COVID-19 outbreak has boosted research activities in the scientific sphere to find solutions like discovering treatment methods and techniques to effectively prevent the spread of the virus.

For instance, in May 2021, Zymo Research made the VirSieve Bioinformatics Pipeline source code available to the environmental microbiology community. With this move, the company intended to promote global collaboration and help detect SARS-CoV-2 variants in wastewater.

VirSieve, an automated computational pipeline, analyzes sequencing readings from the coronavirus in wastewater samples to gain better understanding of viral variants in monitored communities. The software is anticipated to enhance the accuracy of detecting changes in the viral genetic material.

The biotechnology market has been segmented on the basis of application, technology, and region. In terms of application, the market has further been segmented into biopharmacy, bioservices, bioindustries, bioinformatics, and bioagriculture.

The bioinformatics sub-segment valuation surpassed USD 8 billion in 2020 and is projected to witness significant growth at a 9.6% CAGR through the forecast timeframe. Continued development and adoption of advanced bioinformatics tools is estimated to drive segmental growth through the coming years.

In another instance, on 17th May 2021, a new online resource was introduced to grant the public health community the ability to track antimicrobial resistance in typhoid-causing Salmonella Typhi (S. Typhi).

The Typhi Pathogenwatch tool has been developed by Center for Genomic Pathogen Surveillance at Oxford University’s Big Data Institute in collaboration with a team of researchers from various organizations.

The free community-driven tool leverages genome sequencing to improve surveillance, which could enable early intervention and reduce the spread of the infection. Thus, such advancements in the bioinformatics sector are speculated to foster segmental growth through the assessment period.

Based on technology, the market has been divided into fermentation, PCR technology, tissue engineering and regeneration, nanobiotechnology, DNA sequencing, chromatography, cell based assay, and others.

The tissue engineering and regeneration sub-segment valuation exceeded USD 94 billion in 2020 and is projected to grow at a CAGR of 9.7% over the study timeframe. Growing incidences of chronic ailments and increasing organ failures are speculated to propel segmental growth through the forecast years.

From the regional perspective, the Middle East & Africa biotechnology market was valued at more than USD 30 billion in 2020.

The MEA market is estimated to witness a CAGR of 8.5% through the projected period owing to the expanding aging population and increasing awareness pertaining to medical applications of biotechnology in the region.