Biotechnology Market Research Reports

Biotechnology amalgamates scientific and engineering concepts applied in agriculture, food science, environmental science, and medicine. This science utilizes biological agents, including bacteria, viruses, and other organisms, to produce or modify products.

It uses living organisms to improve human health, agriculture, and industry. It can also be referred to as applying knowledge from the life sciences to develop new medical therapies, diagnostic tests, and agricultural products.

Biotechnology broadly encompasses the production of biopharmaceuticals and biologicals on an industrial scale, using fungi, plants, animals, and genetically modified microbes.

This is majorly adopted for therapeutics, diagnostics, genetically modified crops for agriculture, processed food, bioremediation, waste treatment, and energy production.

The use of biotechnology in agriculture focuses mainly on increasing food production. It has been used in many cases, such as agrochemical-based agriculture, organic agriculture, genetically engineered crop-based agriculture, Genetically Modified Organisms (GMO), pest resistance in plants, etc.

The genomic engineering processes have significantly impacted healthcare by promoting restorative, highly effective pharmaceuticals in the medical field.

Moreover, recombinant therapeutics do not elicit allergic reactions like comparable products isolated from non-biological sources. At present, nearly 30 recombinant therapeutics are approved for human use worldwide.

In India, 12 of them are currently available. Use cases of biotechnology in medicine include genetically engineered insulin, gene therapy, molecular diagnosis, transgenic animals, and a plethora of other treatments that are still under trial to improve human quality of life.

The global biotechnology market stood at US$ 802.6 million in 2021 and is expected to reach a value of over US$ 2.2 billion by 2031, registering a CAGR of 12.4%.

The application of biotechnology tools has led to the development of interdisciplinary fields, including bioinformatics and pharmacogenomics, and facilitating drug delivery, drug discovery, and personalized medicine.

The reports in this section provide a detailed analysis of biosimilars, biomarkers, bioinformatics, genomics, and other emerging fields.