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The biotechnology market is primarily driven by the regulatory support provided by governments of various countries, increasing food demand, advancement of technology to combat fatal diseases and depleting natural resources. However, certain factors like long lead time from research to commercialization, and the perception of consumers towards biotech products is restricting the growth of the biotechnology industry. Stem cell technology, cloning and nanotechnology are some of the rapidly emerging technologies in the biotechnology market today. 
The long lab-to-market phase of biopharmaceutical drugs is a major inhibitor for the market. It takes anywhere between 12 to 15 years for a drug to be commercially sold. In addition, social and ethical issues with clinical trials also act as a restraint for the development of the biotechnology market. 
North America is the largest market for biotechnology due to the higher adoption of biopharmaceuticals and increased preference towards bioservices due to higher cost in the region.
Biotechnology finds application in segments such as pharmaceuticals, downstream chemical processing, agriculture and bioservices among others. The biopharmaceutical segment mainly comprises of vaccines, insulin, monoclonal antibodies, generic and branded drugs. Biopharmacy is the largest segment of the biotechnology market. The bioindustrial segment is rapidly gaining market share in the overall biotechnology space due to increasing demand of bioenzymes and biofuels in various applications. The bioagriculture domain primarily focuses on bioseeds, genetically modified (GM) crops and biopesticides. This market is booming as the demand for food production is rising due to increasing population. North America is the leading consumer of GM crops. 
The bioservices segment is the fastest growing market in the Asia Pacific region due to low cost of clinical trials. Bioservices primarily comprise of CROs (Contract Research Organizations) involved in clinical trials, contract manufacturing and drug development. This has been a growing segment, especially in the Asia Pacific region with economies such as India and China registering growth of over 20%.
Biotechnology is an innovative science in which living systems and organisms are used to develop new and useful products, ranging from healthcare products to seeds. According to the United Nations’ Convention on Biological Diversity, biotechnology is defined as, ‘any technological application which uses biological systems, living organism or its derivatives, used to create or modify products and processes for specific purpose.’ 
The biotechnology market is expected to show substantial growth during the forecast period from 2012 to 2017, owing to regulatory support offered to various companies operating in the biotechnology field. In addition, increased demand for food in developing countries has spurred the growth of the bioagriculture market. Bioseeds are expected to show exponential growth compared to conventional seeds during the forecast period from 2012 to 2017.
This report on the biotechnology market analyzes and estimates the global revenue (in terms of USD million) generated by the biotechnology industry over the forecast period i.e. from 2012 to 2017. The biotechnology market has been segmented on the basis of technology and application. On the basis of applications, biotechnology market is divided into four primary segments, namely; biopharmacy, bioservices, bioagriculture and bioindustrial. In terms of technology, the biotechnology market has been segmented into fermentation, tissue regeneration, PCR technology, nanobiotechnology, chromatography, DNA sequencing, cell based assay and others. The others segment comprises genetic engineering, enzyme technology and fingerprinting among others.
Biopharmacy comprises various pharmaceuticals manufactured by using biotechnology and also covers medical devices. The bioservices segment predominantly consists of CROs (Contract Research Organizations) which are third party organizations performing clinical trials, drug discovery and contract manufacturing. The bioindustrial application includes the use of bioenzymes and biochemicals for a variety of chemical processes. Bioagriculture comprises bioseeds and genetically modified (GM) crops. The market of these segments has been extensively analyzed on the basis of various factors that drives and restrains the growth of each segment. The market size is expressed in terms of value in USD million.
Further, the biotechnology market is also segmented on the basis of geography, such as, North America, Europe, Asia-Pacific and Rest of the World (RoW). North America was the largest biotechnology market in 2011 and is expected to retain its leadership throughout the forecast period from 2012 to 2017. This leadership was achieved due to high adoption of biopharmaceuticals and increased preference towards bioservices. 
The market overview section of the report explains various drivers and restraints affecting the market along with the impact they would have during the forecast period. A detailed analysis of the opportunities available in the market over the next five years has also been included. The value chain analysis for the biotechnology market has been provided for a better understanding of the process followed in the market. The study covers in detail the Porter’s five forces analysis, which gives the users of this report a better perspective into the present and future market scenarios. The market share analysis section of the report provides the state of competition amongst the key players operating in the market. These various analyses, altogether, would help the user of this report to understand the market more thoroughly. 
In addition, key market players have been profiled with respect to attributes such as company overview, financial overview, SWOT analysis, business strategy and recent developments. Key market players that are profiled in the report include Abbott Laboratories, Inc., Amgen, Inc., AstraZeneca plc, Biogen Idec Inc., Celgene Corporation, F. Hoffman La Roche Ltd, Genentech Inc., Genzyme Corporation, Gilead Sciences, GlaxoSmithKline plc, Johnson & Johnson, Lonza Group Ltd., Merck & Co., Inc., Novartis International AG, Novo Nordisk A/S, Pfizer, Inc. and Sanofi. A detailed company market share has been included to give a better understanding of the competitive situation in the market.

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Biotechnology Market

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