Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!

Biotechnology Services Market Growth Forecast 2024-2033: What’s the Expected Rate?

In recent times, the biotechnology services market has seen substantial growth. The market, which is expected to escalate from $126.58 billion in 2023 to $133.74 billion in 2024, possesses a compound annual growth rate (CAGR) of 5.7%. Factors driving this expansion during the historic period include solid economic progress in emerging markets, heightened collaborations with research institutes and firms, and a surge in food demand.

The market size of biotechnology services is projected to experience robust growth in the forthcoming years, escalating to $163.12 billion in 2028 with a compound annual growth rate (CAGR) of 5.1%. This growth during the predicted period can be attributed to rapid technological advancements, an increase in non-communicable diseases, a focus on innovation, a growing need for agriculture-related biotechnology services, a surge in demand for synthetic biology, developments and enhancements in drug research, growth in personalized treatment, and collaboration and partnerships. Significant trends anticipated during the forecasted period are strategic collaborations to accelerate innovations and discoveries, the incorporation of data management systems via cloud technology, the development of next-generation sequencing technology to employ machine learning and artificial intelligence, the adoption of digitalization methods in undertaking clinical trials, the implementation of automated solutions to boost productivity and consistency in diagnosis effectively, methods, processes, and products that aid in achieving higher agricultural outputs in less time, the use of artificial intelligence technologies to provide improved products and solutions, and investments in synthetic biology to develop products and solutions to solve challenges in human medicine, robust food supply, fine chemicals, and renewable energy.

Claim Your Free Sample of the Global Biotechnology Services Market Report Today!

https://www.thebusinessresearchcompany.com/sample.aspx?id=3499&type=smp

What Factors Are Impacting the Growth of the biotechnology services Market?

The mounting prevalence of ailments such as hepatitis B, diabetes, and cancer is fostering biotechnology research. Biotechnology harnesses the power of biology and chemistry-based tools to delve into the genetic material of bacteria and viruses in order to identify agents that cause disease. A significant emphasis on oncology research can be seen among biopharma entities. Advancements in areas such as stem cell therapy using monoclonal antibodies and genome sequencing are on the rise in the medical field. As per the Indian Economic Survey 2021, it’s predicted that the Indian biotechnology sector will soar to US$ 150 billion by 2025. Consequently, the surging disease prevalence coupled with significant R&D investment is anticipated to boost the growth of the biotechnology services market.

What Are the Fundamental Segments in the Biotechnology Services Market?

1) By Service: Prevention And Disease Control, Public Engagement Activities, Health Education And Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing And Isolation, Research And Development

2) By Industry: Clinical Research Organizations (CROS), Contract Manufacturers Organizations (CMOS), And Contract Research And Manufacturing Services (CRAMS)

3) By Area Of Application: Pharmaceutical, Biotechnology, Academic, Clinical Trial, Healthcare Sectors, Others

What Trends Are Shaping the New Direction of the Biotechnology Services Market?

Biotech service industries are witnessing an increasing trend of collaborations and partnerships among enterprises. An exemplar of this can be seen in January 2021, when a pharmaceutical company based in Switzerland, Novartis, entered a partnership with Alnylam, a biopharmaceutical firm from the United States. The purpose was to explore and apply Alnylam’s siRNA technology in developing targeted treatments aimed at liver function restoration. Under this exclusive three-year research alliance, Alnylam will be tasked with developing and testing potential siRNAs utilizing target-specific assays provided by Novartis. Novartis will then embark on further development and carry out clinical studies once a potential candidate is determined.

Order Now for Fast Delivery of Your Biotechnology Services Market Report!

https://www.thebusinessresearchcompany.com/report/biotechnology-services-global-market-report

Which Regions Are Making a Mark in the Biotechnology Services Market Growth?

Asia-Pacific was the largest region in the biotechnology services market in 2023. North America was the second largest region in the global biotechnology services market analysis. The regions covered in the biotechnology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Biotechnology Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the biotechnology services market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Biotechnology Services Market Include

1. Biotechnology Services Market Executive Summary

2. Biotechnology Services Market Segments

3. Biotechnology Services Market Size And Template Market Growth Rate

4. Key Biotechnology Services Market Trends

5. Major Biotechnology Services Market Drivers

……

25. Key Mergers And Acquisitions In The Biotechnology Services Market

26. Top Biotechnology Services Companies

27. Biotechnology Services Market Opportunities And Strategies

28. Biotechnology Services Market, Conclusions And Recommendations

29. Appendix

Discover Related Reports by The Business Research Company:

Live Cell Imaging Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/live-cell-imaging-global-market-report

Sample Preparation Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/sample-preparation-global-market-report

Mycoplasma Testing Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/mycoplasma-testing-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: