Biotechnology Market Growth Accelerated by Emerging Markets Adoption
Biotechnology is revolutionizing various industries including healthcare, pharmaceutical, agriculture and environmental protection. Products developed using biotechnology such as biopharmaceuticals, genetically modified crops and biofuels are offering innovative solutions. Biopharmaceuticals are increasingly becoming the preferred treatment option for chronic diseases like cancer and diabetes owing to their high selectivity and efficiency. The Global Biotechnology Market Size is estimated to be valued at US$ 945.11 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the biotechnology market is the rising adoption in emerging markets like India, Brazil, China and South Africa. These emerging economies offer huge growth opportunities owing to the expanding urban middle class demanding superior healthcare and...