Global Biotechnology Market Size Reach US$ 1,033.6 Billion by 2028, Growing at a CAGR of 7.4% during 2023-2028
IMARC Group's report titled " Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ". The global biotechnology market size reached US$ 665.6 Billion in 2022 . Looking forward, IMARC Group expects the market to reach US$ 1,033.6 Billion by 2028 , exhibiting a growth rate (CAGR) of 7.4% during 2023-2028. Factors Affecting the Growth of the Global Biotechnology Industry: • Advances in Genomic Research: The biotechnology market is experiencing significant growth driven by advances in genomic research. Genomic research, which involves the mapping and editing of genomes, is pivotal in understanding genetic disorders, enhancing crop yields, and developing personalized medicine. Innovations in sequencing technologies have dramatically reduced costs and increased speed, enabling broader applications in healthcare, agriculture, and environmental science. Personalized medicine, a direct offshoot of genomic research...