Biotechnology Market

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Biotechnology Market Size and Demand to 2032
Global Biotechnology Market size was USD 993.87
billion in 2022 and is predicted to reach USD
1983.52 billion in 2031, exhibiting at a CAGR of
9.7 during the forecast period.
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Report Description
The market is driven by strong government support
through initiatives aimed at modernization of the
regulatory framework, improvements in approval
processes and reimbursement policies, as well as
standardization of clinical studies. The growing
foothold of personalised medicine and an
increasing number of orphan drug formulations are
opening new avenues for biotechnology
applications and are driving the influx of
emerging and innovative biotechnology companies,
further boosting market revenue.
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Major Key Players

• Some of the major players operating in this
  market are
• AstraZeneca
• Gilead Sciences Inc.
• Bristol-Myers Squibb
• Biogen
• Abbott Laboratories
• Amgen Inc.
• Novo Nordisk A/S
• Merck KGaA
• Johnson Johnson Services

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Market Segmentation

• By Application (Bio-pharmacy, Bio-industries,
  Bio-services, Bio-agriculture, and
  Bio-informatics)
• By Technology (Fermentation, Tissue Engineering
  and Regeneration, Polymerase Chain Reaction (PCR)
  Technology),

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Regional Analysis

• Based on geography, the market is segmented into
  five geographical regions
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East
• Africa

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