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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Biotechnology Market Trends
Surge in Venture Capital Funding Impacts the Market Dynamics
The market is witnessing an increased inflow of capital in the biotechnology sector that fuels the development of new therapies and technologies and shapes the market dynamics. Adequate funding not only allows biotech companies to diversify their portfolios but also helps them set up research centers, manufacturing facilities, and distribution networks in new markets. Increased venture capitalist funding is one of the major biotechnology industry trends that is catalyzing biotech innovation. In 2022, it was reported that biotech start-ups secured over USD 22 billion in funding from venture capitalists across early- and late-stage rounds. In Q3 2023, more than USD 12 billion was raised, which is projected to support the development of promising treatments and the commercialization of novel gene-editing technologies.
Advancements in Gene Editing Technologies are Shaping the Market Landscape
In February 2024 , it was reported that India-based CrisprBits Private Limited, specializing in diagnostic tests based on gene editing technology, developed OmiCrisp, a diagnostic and surveillance platform for SARS-CoV2 testing leveraging CRISPR technology. This CRISPR-based test rapidly detects the virus as well as shows 99% accuracy in identifying the Omicron lineage of the virus in clinical samples. Thus, the advancements in gene editing technologies are expected to boost the share of the biotechnology market by providing robust diagnostic tools and novel therapeutic approaches. Further, the increasing demand for gene editing-based diagnostics in healthcare settings due to their high precision and reliability is anticipated to support the market growth in the forecast period.
Biotechnology Market Report Snapshots
Biotechnology Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124