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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.
Industrial biotechnology (known mainly in Europe as white biotechnology) is the application of biotechnology for industrial purposes, including industrial fermentation. It includes the practice of using cells such as microorganisms , or components of cells like enzymes , to generate industrially useful products in sectors such as chemicals ...
US Biotechnology Market: Overview. Biotechnology encompasses a broad range of scientific disciplines that utilize living organisms, cells, and biological systems to develop products and technologies that benefit society. One prominent trend in the US biotechnology sector is the increasing focus on precision medicine and personalized therapies.
Rockville, MD, Nov. 11, 2024 (GLOBE NEWSWIRE) -- According to a new industry report by Fact.MR, a market research and competitive intelligence provider, the global biotechnology market is projected to reach a size of US$ 550.83 billion in 2024 and further touch US$ 2667.36 billion by the end of 2034.
Westford, USA, Nov. 22, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the agricultural biotechnology market size will attain a value of USD 227.77 billion by 2031, with a CAGR of 8.8% over the forecast period (2024-2031).
Biomanufacturing (or bioproduction) is a type of manufacturing or biotechnology that utilizes biological systems to produce commercially important biomaterials and biomolecules for use in medicines, food and beverage processing, and industrial applications.
In 2012 the US had the highest IP (Intellectual Property) generation within the biopharmaceutical industry, generating 37 percent of the total number of granted patents worldwide; however, there is still a large margin for growth and innovation within the industry.
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.