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HYDERABAD, TELANGANA, INDIA, January 13, 2023 /EINPresswire.com/ -- The Biotechnology Market is estimated to reach revenue of $610.92 billion by 2025 from $ 430.92 billion, growing at a CAGR of 9.50% during the forecast period 2019-2025. The growth of the Biotechnology market is owed to the rising demand for horticulture products like wheat, beans etc. Rising innovations of artificial intelligence in the biotechnology industry are making a significant breakthrough in the technological field as a pipeline of products is undergoing technological enhancement within the minimum time frame. The report covers the Biotechnology Market size by type and applications, Biotechnology Market share by top 5 companies and also the market share by start-ups during the forecast period.

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Key Takeaways

1. Biotechnology involves the application of molecular biology and cellular process to develop technologies and products and resolve the biological constraints that prevailed in the market. Biomedical Engineering and Biotechnology are closely related where biotechnology deals with life science and biomedical engineering deal with human health and the clinical industry.

2. Major players in the Biotechnology market are Agilent Technologies, BioGen Medical Instruments, Danaher, F. Hoffmann-La Roche, Abbott Laboratories Illumina, Merck, PerkinElmer, Qiagen and Thermo Fisher Scientific, Amgen, and Bio-Rad Laboratories.

3. Currently, there are around 250 biotechnology healthcare products and vaccines available to patients. More than 13.3 million farmers around the world use agricultural biotechnology to increase crop production and prevent damage from insects and pests.

4. Applied Immunology approaches are aimed at modifying immune responses and play a significant role in the biotechnology market. Genomics is an application of biotechnology on understanding how very large numbers of genes interact with each other and with their environment.

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Segment Analysis

1. On the basis of Type, the Tissue Engineering and Regeneration segment dominated the Biotechnology market in 2018 and is forecast to grow with a CAGR of 5% due to the technological demand and the rising demand for tissue engineering in the market.

2. On the basis of Application, the Health segment holds the largest revenue share due to the rising demand for bio pharmacy for the use of recombinant genes in medications to treat different ailments. The market is also gaining popularity owing to the Increasing number of long-term diagnosed diseases coupled with the rising new drug advancements.

3. North America is estimated to hold the largest share, of 41% in the market in 2018. This is due to the huge investment made by companies in the research and development sector in countries like U.S. and Canada. The biotechnology market in the APAC region is anticipated to attain a significant share of the market due to the awareness of people regarding the viability of the technology and huge infrastructural facilities made within the country,

Competitive Landscape:
The top 5 players in the Biotechnology industry are -

1. Agilent Technologies
2. BioGen Medical Instruments
3. Danaher
4. F. Hoffmann-La Roche
5. Abbott Laboratories Illumina

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