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Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies.
“According to the latest research study, the demand of US Biotechnology Market size & share was valued at approximately USD 533.4 Billion in 2023 and is expected to reach USD 583.8 Billion in 2024 and is expected to reach a value of around USD 1797.8 Billion by 2033, at a compound annual growth rate (CAGR) of about 12.3% during the forecast ...
The market size is defined through the market volume and the market potential. The market volume exhibits the totality of all realized sales volume of a special market. The volume is therefore dependent on the quantity of consumers and their ordinary demand. Furthermore, the market volume is either measured in quantities or qualities.
The following table lists the largest biotechnology and pharmaceutical companies ranked by market capitalization in billion US dollars. The change column indicates the company's relative position in this list compared to their relative position in the preceding year; i.e., an increase would be moving closer to rank 1 and vice versa.
The Indian biotechnology industry formally began in 1986 with the establishment of the Department of Biotechnology (DBT) by the Ministry of Science and Technology. [4] From 1999, St. Joseph’s College, Irinjalakuda, Kerala is offering a government-aided B.Sc. Biotechnology program. It is the only institution in Kerala offering an aided ...
Biotechnology and Biological Sciences Research Council; Biotechnology in the United Kingdom; Biotechnology industry; Biotechnology Innovation Organization; Biotechnology Regulatory Authority of India; BioViva; Bioz; BIT Life Sciences; Board on Science, Technology, and Economic Policy; Brazilian Health Regulatory Agency; Bristol Myers Squibb ...
The industry produces over 60,000 generic drugs in different 60 therapeutic categories. [8] India's revenue from pharmaceutical exports was $25.3 billion in the 2022-2023 financial year. [7] In terms of the global market, India currently holds an accountable share and is known as the pharmacy of the world. [9]
Market size can be given in terms of the number of buyers and sellers in a particular market [61] or in terms of the total exchange of money in the market, generally annually (per year). When given in terms of money, market size is often termed "market value", but in a sense distinct from market value of individual products. For one and the ...