Buddha is quoted as saying
that “Change is the only constant thing in life” and
everybody knows that a growling engine of change in modern age is - Technology. It
has the potential to build upon existing systems or completely overthrow
redundant tech and substitute them with a modern efficient technology. Biotechnology is
one of the shining examples of this phenomenon and will continue to be so until
a long time.
What Exactly
is Biotechnology?
‘Biotechnology’
is the broad area of biology, involving living systems and organisms and deals
with biological processing of those living organisms & systems to develop
new technologies. It also exploits cellular & biomolecular processes to
create new products & technologies. This leads to improvement in the health
of consumers and the planet boosting the growth of Biotechnology market. Along with many things, it also
deals with Tissue engineering, DNA sequencing and Nanobiotechnology.
Biotechnology covers broad
aspects in the utility arena. Although, it is used in several field, its apt
usage is in four sectors, namely, Health care (Medical), Crop production and
Agriculture, Non-food (Industrial) uses of crops and other products (e.g.
biodegradable plastics, vegetable oil, biofuels), and Environmental uses.
For example, one
application of biotechnology is the directed use of microorganisms for the
manufacture of organic products (examples include beer and milk products).
Another example is using naturally present bacteria by the mining industry
in bioleaching. Biotechnology is also used to recycle, treat waste,
clean-up sites contaminated by industrial activities (bioremediation), and also
to produce biological weapons.
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Market:
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Its Role
Biotechnology is rooted in
the science of microbiology, genetics, animal cell culture, embryology, cell
biology, etc. The technology provides breakthroughs, developments, and products
in biofuels, agricultural biotechnology, regenerative medicines, vaccines, and
so on.
Biologists study cell
functions & structure to get a better understanding of proteins, genes, and
cells. The same helps fight orphan diseases, reduces carbon footprints, and
provides cleaner energy. In addition, products developed from the technology
boosts food sources, combats pollution, and improves nutritional health.
Its role in following
sectors is quite prominent.
- Healthcare (Medical): Biotechnology has been leveraged by the
R&D professionals to bring more efficiency to medical practice and
invade into arenas untouched by medicine. Technologies like Bioinformatics, Nanobiotechnology and DNA
sequencing among others, has been of a big help. For example,
Biotechnology has contributed to the discovery and manufacturing of
traditional small molecule pharmaceutical drugs as well as drugs that are
the product of biotechnology – biopharmaceutics. Modern
biotechnology can also be used to manufacture existing medicines
relatively easily and cheaply.
When it comes to health,
genetic modification by biotechnology is also something to be highlighted. It
has been applied in modifying the genetic structure of Mosquitoes (GM),
resulting in the increase of capability to fight the outbreaks of harmful
vector-borne diseases like Zika, Dengue and Malaria etc.
- Crop production and Agriculture: Genetically Modified (GM) crops are
developed with the help of biotechnology and has proved its worth in
raising the yield of crops in the countries battling hunger and poverty.
For example, Countries; like Burkina Faso, Nigeria, Egypt, South Africa,
and Sudan are cultivating genetically engineered crops; such as Bacillus
thuringiensis (Bt) cotton, corn, cow pea, nitrogen, water efficient
rice, etc. Apart from this, scientists have also developed 3-D printed
biotechnological CellPods that incubate seeds and accelerate
their growth (with the help of adequate sunlight, air, & nutrition).
- Non-Food (Industrial) Uses: Biotechnology is used in industries
worldwide to develop several products, i.e.textile, fermented food
products, paper and pulp, detergents as well as chemicals among others.
Also, Genetically Modified Organisms (GMOs)
have been developed to
enhance the diversity of applications and economic viability of industrial
biotechnology.
Nowadays to alleviate the
problems of growing plastic waste, Biotechnology is also being leveraged to
develop biodegradable plastics. This provides a huge push to the climate change
initiative.
- Environmental Uses: - With growing concerns regarding
the environment nowadays, countries are looking towards biotechnology for
new developments and remedies and biotechnology answers! Bioremediation is
a fine example of leveraging biological organisms to treat waste and oil
spillage in the seas and oceans.
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How is the
market faring?
The global biotechnology
market size is expected to reach USD 727.1 billion by 2025, at a CAGR of 7.4%.
This shows the amount of potential this market has in the current time. The key
players in the markets are putting pedal to the metal and investing heavily to
cater to the growing need of biotechnological demands.
Key players are Johnson
& Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Pfizer, Merck &
Co., and Sanofi among others. Mergers, collaborations, and manufacturing
activities are the key strategies adopted by them to gain shares.
Recent
Developments
- San Diego’s Eurofins Discovery and
Shanghai-based PharmaResources are joining forces to combat
issues of lack of speed and efficiency in drug development arena.
- Sanofi's BTK inhibitor SAR442168 hit the
primary endpoint in trial of relapsing multiple sclerosis patients,
emboldening the French pharma to plot out a broad phase 3 program.
- Roche reported data from the spinal
muscular atrophy trial it hopes will establish it as a rival to Biogen and Novartis in
the disease.
- MaaT Pharma has raised an €18 million ($20
million) series B round. The financing equips MaaT to wrap up a phase 2
trial of its lead microbiome therapy in graft-versus-host disease
(GVHD) while expanding into solid tumors.
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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