Red Biotechnology Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Diagnostic Reagents, Human Vaccines, Blood Products, Gene Recombinant Drugs and Others), By Application (Biopharmaceutical Production, Gene Therapy, Genetic Testing, Pharmacogenomics, Drug Discovery and Others), By End-User (Pharmaceutical and Biotechnology C
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRed Biotechnology Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Diagnostic Reagents, Human Vaccines, Blood Products, Gene Recombinant Drugs and Others), By Application (Biopharmaceutical Production, Gene Therapy, Genetic Testing, Pharmacogenomics, Drug Discovery and Others), By End-User (Pharmaceutical and Biotechnology C
Global Red Biotechnology Market is expected to grow with an impressive CAGR in the forecast period of 2024-2028. This can be attributed to factors such as growing demand for genetic engineering,
Red Biotechnology focuses on the therapeutic or diagnostic use of living cells, and their components, to develop novel medical treatments and cures for diseases and health issues. It includes the creation of a wide range of goods, including medicines, diagnostic instruments, vaccines, gene treatments, and other products for the treatment and prevention of different diseases.
The growing demand for precision medicine is enhancing the market opportunities and increasing demand for the global red biotechnology market.
Growing Demand for Genetic Engineering
Increase in demand for genetic engineering has been observed due to increase in biologic drugs. According to IQVIA Institute data, biologic drugs represented 2 percent of all United States prescriptions, but comprises of 37% net drug spending. The growing use of genetic engineering such as recombinant DNA technology in creating genetically modified organisms such as therapeutic antibodies is propelling the growth of red biotechnology market across the globe. The technologies such as gene editing such as CRISPR-based genetic editing, is also becoming much prevalent in the market and thereby is supporting the market growth by expanding the applications of red biotechnology in genetic engineering. Additionally red biotechnology is found to have application in production of spinal discs, artificial bones, skin and cartilages through tissue engineering techniques.
Download Free Sample ReportDevelopment of new medicines for the treatment of Life-threatening diseases
Red biotechnology has found application in fields such as in gene therapy, clinical trials, diagnostics, and research. Also, the growing number of clinical trials for the development of drugs along with rise in acceptance and demand for biosimilars affect the growth of red biotechnology in the recent scenario. The expansion of the biopharmaceutical sector of red biotechnology market is expected to grow with increasing clinical trials in medicine production. For instance, In July 2022, Replay-a genomic medicine producing startup invested USD55 million in a seed funding round to develop and transform genomic medicine through an interlinking stage for developing various genotype genomic research to discover new disease targets and enhance and improve the disease diagnosis & treatment.
Increased production of precision medicine
According to the World Health Organization (WHO), cancer is the second leading cause of death globally and has recorded around 9.6 million deaths globally
Recent Development
In June 2022, Bluebird Bio has developed a new gene therapy and is being evaluated by the United States Food Drug and Administration regarding the treatment of (CALD) cerebral adrenoleukodystrophy (a genetic condition that damages the membrane myelin sheath of the brain) in patients under adolescent age.
Market Segmentation
Global Red Biotechnology Market is segmented based on the product type, application, end-user, region and competitive landscape. Based on product type, the market is segmented into diagnostic reagents, human vaccines, blood products, gene recombinant drugs and others. Based on application, the market is segmented into biopharmaceutical production, gene therapy, genetic testing, pharmacogenomics, drug discovery and others. Based on end-user, the market is segmented into pharmaceutical and biotechnology companies, CMO & CRO, research institute and others.
Market Players
Pfizer, Inc., Takeda Pharmaceutical Company Limited, Gilead Sciences, Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche, Ltd., Bruker, Merck KGaA, Celgene Corporation, Amgen, Inc., etc., are some of the major players operating in the Global Red Biotechnology Market.
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product type Application End-user |
| Regional Scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country Scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South Africa; Kuwait |
| Key Companies Profiled | Pfizer, Inc., Takeda Pharmaceutical Company Limited, Gilead Sciences, Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche, Ltd., Bruker, Merck KGaA, Celgene Corporation, Amgen, Inc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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