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How has the bioengineering technology market grown over the years?

The rapid expansion in the bioengineering technology market’s size has been evident in recent years. The market, pegged at $320.38 billion in 2024, is forecasted to rise to $361.95 billion in 2025, signaling a compound annual growth rate (CAGR) of 13.0%. The previous growth period’s surge can be associated with an escalating elderly population, an increased incidence of chronic diseases, the overall growth of the bioengineering technology market, supportive government measures, and the expansion of genetic engineering strategies.

What Is the forecasted market size and growth rate for the biogas upgrading equipment market?

The market size of bioengineering technology is projected to expand rapidly in the coming years, reaching a valuation of $591.25 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 13.1%. The rise during the forecasted period is due to several factors, including a heightened emphasis on cell therapies, the swift development of synthetic biology, progress in precision medicine, its growing use in agriculture, and its broadened usage in environmental solutions. The upcoming trends for this period include advancements in gene editing techniques, amalgamation of different technologies, breakthroughs in precision medicine, international collaborations and partnerships, and applications of synthetic biology.

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What are the major factors driving growth in the bioengineering technology market?

The rise in chronic diseases is anticipated to boost the bioengineering technology market’s growth. These diseases are recognized as enduring health conditions known for their extended and persistent qualities. Due to its capability to offer revolutionary solutions, better outcomes, and amplify patients’ life quality, bioengineering technology is employed in the management and treatment of chronic diseases. For example, according to the Australian Institute of Health and Welfare, an Australian government agency, in June 2024, the age-standardized death rate linked to chronic diseases was 448 per 100,000 population. This figure increased slightly to 459 per 100,000 in 2021 and further escalated to 490 per 100,000 in 2022. Consequently, the growing prevalence of chronic diseases is fueling the expansion of the bioengineering technology market.

What key areas define the segmentation of the global bioengineering technology Market?

The bioengineering technology market covered in this report is segmented –

1) By Product: Biomedical Engineering, Genetic Engineering, Biotechnology, Tissue Engineering, Biomechanics Engineering, Biomaterial, Biomechanical Engineering, Nano-Biotechnology, Bioinformatics, Other Products

2) By Technology: Nanobiotechnology, Tissue Engineering And Regeneration, DNA Sequencing, Cell-Based Assays, Fermentation

3) By Application: Health, Food And Agriculture, Natural Resources And Environment

Subsegmnets:

1) By Biomedical Engineering: Medical Devices, Diagnostic Equipment, Prosthetics And Implants

2) By Genetic Engineering: Gene Editing Tools (CRISPR), Recombinant DNA Technology, Gene Therapy Products

3) By Biotechnology: Biopharmaceuticals, Industrial Biotechnology Products, Agricultural Biotechnology

4) By Tissue Engineering: Scaffolds, Stem Cell Technology, Regenerative Medicine Products

5) By Biomechanics Engineering: Motion Analysis Systems, Orthopedic Biomechanics, Sports Biomechanics Products

6) By Biomaterials: Natural Biomaterials, Synthetic Biomaterials, Biodegradable Polymers

7) By Biomechanical Engineering: Prosthetic Devices, Orthotic Devices, Rehabilitation Equipment

8) By Nano-Biotechnology: Nanoparticles For Drug Delivery, Nanosensors, Nanomaterials For Biomedical Applications

9) By Bioinformatics: Genomic Data Analysis Tools, Protein Structure Analysis Software, Biological Databases

10) By Other Products: Environmental Bioengineering Solutions, Bioremediation Technologies, Bioprocessing Equipment

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What are the top market players propelling the growth of the bioengineering technology industry?

Major companies operating in the bioengineering technology market report are Pfizer Inc., Johnson & Johnson, Roche Holding AG, Novartis AG, Bristol-Myers Squibb Company, Thermo Fisher Scientific, Abbott Laboratories, AstraZeneca PLC, Medtronic PLC, Gilead Sciences Inc., Amgen Inc., Novo Nordisk A/S, Moderna Inc., Becton Dickinson (BD), Regeneron Pharmaceuticals, Inc., Biogen Inc., Vertex Pharmaceuticals Inc., Agilent Technologies, Lonza Group Ltd., Intuitive Surgical, Illumina, Inc., Bio-Rad Laboratories, Ginkgo Bioworks, Verve Therapeutics, Inc., CRISPR Therapeutics

What are the key trends shaping the future of the bioengineering technology market?

Leading businesses in the bioengineering technology market, such as Mito Plus, are paving the way for advancements in regenerative medicine through the introduction of ground-breaking technology products. The Mito Plus, a high-end, native 3D bioprinter, utilizes 3D printing technology to fabricate tissues or organs that emulate natural body parts, packed with living cells. In November 2022, Avay Biosciences Pvt. Ltd, a respected India-based manufacturing company and service provider for 3D printers, unveiled their revolutionary bioprinter, Mito Plus, tailored for human tissues. Identified as one of the most advanced bioprinters within its cost bracket, it has the capability to print a plethora of biomaterials and incorporates an inbuilt UV curing system. It is additionally equipped with HEPA filters and temperature management features, allowing the printhead and print bed to be temperature-controlled, and can be cooled to as low as 4 degrees Celsius.

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What regions are dominating the bioengineering technology market growth?

North America was the largest region in the bioengineering technology market in 2024. The regions covered in the bioengineering technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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