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2013 Report on the International Biotechnology Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2017
Date:1/10/2014

DUBLIN, Jan. 10, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/qhnxt9/biotechnology) has announced the addition of the "2013 Report on the International Biotechnology Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2017" report to their offering.

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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. Biopharm
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