Global Biotechnology Market: Industry Analysis, Size, Share, Growth, Trends and Forecast 2010 - 2017
Albany, New York (PRWEB) September 10, 2014
Simply stated, biotechnology is the technology based on biology. It is a technology in which biomolecular and cellular processes are exploited and used for developing products and technologies for the betterment of living beings and our planet.
Biotechnology has been applied since ancient times for the production of food products such as cheese, breads and for the preservation of dairy products. But recent developments in molecular biology have given biotechnology new meaning, new prominence, and new potential. It is (modern) biotechnology that has captured the attention of the public. Modern biotechnology can have a dramatic effect on the world economy and society but owing to the recent developments in molecular biology, modern biotechnology has acquired new prominence and potential. Modern biotechnology has allowed the discovery of many breakthrough products and technologies allowing development of better and efficient medicines for many rare diseases, products that have lesser impact on the environment, cleaner energy sources, biologically advanced seeds and crops and many more.
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Currently, there are over 250 biotechnologically produced vaccines and health care products available in the market, capable of curing previously incurable diseases and conditions. Millions of farmers across the globe are using biotechnology in agriculture to increase crop yields, grow crops that are invulnerable to insects and pests and reduce impact of farming on the environment. Many biorefineries are being built across the world in attempts to refine and test technologies for the production of chemicals and biofuels biodegradable substances.
Many recent developments have helped this field in providing reliable solutions to the world’s most pressing issues: health, energy and food. Here’s how:
- A healthy World:
As noted earlier, biotechnology harnesses the living for the creation of technology. For the medical field, biotechnology uses nature’s own toolbox – the genes of living beings – to heal the living and guide lines of research to develop new ways of combating complex medical conditions. Development of advanced medicines has allowed (and continue to allow) the reduction of many infectious diseases, saving millions of lives. Many medicines save millions of children from life threatening conditions in the early stages of their lives, thus helping them lead a normal, healthy life.
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Biotechnology has changed the odds of many serious, earlier incurable conditions that affect millions of people in the world. It has also allowed in tailoring treatments according to individual conditions and cases, thus minimizing health risks occurring from side-effects. Also, more precise, accurate and rapid tools for detection of diseases and conditions has also been made possible by this field.
- Energy Efficient World:
Biotechnology applies biological processes such as fermentation and exploits biocatalysts such as yeasts, enzymes and various microbes for developing biofuels from biologically degradable substances. Efficient production of biofuels has the potential to reduces the use of petrochemicals, substances which have huge impact on the environment. It is well known that biofuels are less hazardous to the environment and have additional benefits such as the utilization of biodegradable waste materials. The use of biotechnology in the field of energy production (by virtue of biofuels) has allowed the streamlined the steps in chemical manufacturing by more than 80%. An improved manufacturing process leads to cost efficiency and less energy consumption.
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- Abundant food Supply:
Biotechnology helps the development of biologically advanced crops that have better resistance towards insects, pests and natural calamities such as salinity and drought. This directly results in the development of environmentally sustainable and more efficient farming processes.
This has helped in generating higher yields from crops with the similar or even fewer amounts of inputs.
Crops that are tolerable to insects and pests also need fewer amounts of agricultural chemicals, reducing the run-off and mixing of such chemicals with the environment, thus substantially reducing harm to it. This also reduces the amount of work required by farmers for tilling their farmlands. Biotechnology also makes it possible to develop crops with improved nutrition profiles, resulting in vitamins and nutrient rich food stuffs.
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