Biotechnology Market (Biopharmacy, Bioservices, Bioagri, Bioindustrial) Is Expected to Reach USD 414.5 Billion Globally in 2017: Transparency Market Research
Albany, New York (PRWEB) April 24, 2013
The biotechnology market is expected to show substantial growth over the forecast period owing to the government support offered to various companies operating in the biotechnology field. In addition, the increased demand for food in developing countries has spurred growth of the bioagriculture market. Bioseeds are expected to show exponential growth as compared to conventional seeds over the forecast period.
Biopharmaceuticals dominated the global market, accounting for over 60% of the overall revenue in 2011. Bioservice applications are expected to register the fastest growth due to the operating cost benefits associated with emerging economies, particularly in terms of raw materials, labor and regulatory support.
Related Report: Weight Management Market
Outsourcing of clinical trials, contract manufacturing and drug discovery has emerged as a key trend in developed countries, leading to the growth of the bioservices industry in the developing economies of India, Thailand, Malaysia and China. The developing countries provide superior research and trial facility at lower cost. The market for bioagriculture applications, including bioseeds, is expected to reach USD 27.46 billion in 2018.
Related Report: Monoclonal Antibodies Market
North America dominated the global market, accounting for over 42% of the overall biotechnology revenue in 2011. With increasing focus on renewable chemicals, Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 14.1% from 2012 to 2017.
Key players in the biotechnology market include Roche, Amgen, Novo Nordisk, Sanofi, Pfizer and Novartis. The detailed profile of these companies along with a global company market share analysis has been included in the report.
Browse the full report with TOC at http://www.transparencymarketresearch.com/biotechnology-market.html
The biotechnology market has been analyzed in detail and revenues generated by every application in regions such as Europe, North America, Asia Pacific and RoW have been included.
Browse all market research reports: http://www.transparencymarketresearch.com/