Red Biotechnology Market

Global Red Biotechnology Market Size (2023 to 2028)

The global market size for red biotechnology is forecasted to grow at a CAGR of 5.57% from 2023 to 2028 and be worth USD 436.09 billion by 2028 from USD 332.5 billion in 2023.

Diagnostics, gene therapy, clinical research, and clinical trials have all benefited from red biotechnology. The process of red biotechnology involves using diverse organisms to improve healthcare and the development of disease immunity. In addition, the medical field has benefited from this innovative branch of biotechnology. This has been extremely useful in the pharmaceutical and medical industries and in enhancing lifestyle quality and reducing human suffering.

Impact of COVID-19 on the global red biotechnology market:

The red biotechnology market is a dynamic industry with considerable commercial development potential. Still, current COVID-19 conditions have resulted in uncertain forecasts, changed short-term planning targets, and emphasized near-term cost management and long-term complexity management concerns. As a result, profit pool growth in the Red Biotechnology market varied greatly in 2020, as firms swiftly aligned their strategies to the existing market conditions and largely succeeded. In collaboration with governments around the world, pharmaceutical and biotech businesses are working to contain the COVID-19 outbreak, from assisting vaccine development to addressing issues in the pharmaceutical supply chain. Due to the massive demand for similar treatments, producers of COVID-19 drugs have a lot of potentials because these drugs are in short supply in many areas. Due to the demand for COVID-19 therapeutic medications and immunization, the biotechnology and pharmaceutical sectors are likely to increase significantly. COVID-19 is expected to have a beneficial impact on the global red biotechnology market growth due to these factors.

MARKET DRIVERS:

The global red biotechnology market is being driven by the rising incidence and prevalence of chronic and uncommon diseases and increased investment in the healthcare industry.

There have been significant advancements in the biotechnological field to manufacture new therapeutic medicines for elegantly combating conditions and a significant increase in the rate of progress in the stem cell research field to manufacture genetic engineering and unique styles, which allows for the correction of genetic composition in cases. These are some of the key drivers promoting the expansion of the global red biotechnology market. Furthermore, the increasing number of clinical studies for developing medicines and rising acceptance and demand for biosimilars are expected to fuel market expansion throughout the forecast period. Furthermore, the red biotechnology method is utilized in various technologies to manufacture combined vaccines, such as DPT mixed with Hepatitis A, Hepatitis B, and polio vaccines.

Many steps are being taken to investigate and integrate biotechnology into developing personalized medicines. Biotechnology's application in personalized medical treatments will likely provide several opportunities for red biotechnology market competitors. The increase in the incidence of ongoing infections, the rapid development of natural areas, and increased overall medical service consumption will presumably assist the growth of the red biotechnology market.

MARKET RESTRAINTS:

Expensive cancer therapeutic technology and machinery are anticipated to place financial pressures on patients, primarily limiting the growth of the global red biotechnology market. In addition, the red biotechnology market is facing substantial challenges, such as an increase in the failure rate of numerous pharmaceuticals in later phases of clinical trials and high production costs. Furthermore, significant investments in R&D activities are predicted to hamper the growth rate of the global red biotechnology market.

REPORT COVERAGE:

This research report on the global bed biotechnology market has been segmented and sub-segmented based on type, application, end-user, and region.

Red Biotechnology market – By Type:

• Antibody
• Nucleic Acid
• Protein

The antibodies segment had the largest share of the global red biotechnology market in 2022. An antibody is a protein produced by the human body to combat bacteria, viruses, and other potentially harmful substances. The human body has a built-in system that allows it to create more antibodies than required. However, there are situations when the body's antibody production is insufficient, and it is necessary to administer antibodies via injection or infusion.

Red Biotechnology Market – By Application:

• Biopharmaceutical Production
• Gene Therapy
• Pharmacogenomics
• Genetic Testing

Based on the application, the gene therapy application segment is expected to rise at the fastest rate of all during the forecast period in this market due to growing research into improving therapies for various genetic abnormalities that cause rare diseases. In addition, red biotechnology also includes genetic engineering and the development and production of novel therapeutic products to treat life-threatening disorders. For example, adenosine deaminase (ADA) deficiency and severe combined immunodeficiency (SCID) are two hereditary illnesses that have been effectively cured with gene therapy. Furthermore, several promising gene treatments for cancer and genetic abnormalities are in the works.

Red Biotechnology market – By End-User:

• CMOs & CROs
• Biopharmaceutical Industries

In the global red biotechnology market, the biopharmaceutical segment is expected to hold a significant share during the forecast period. Biopharmaceuticals are medications created utilizing biotechnology. Biopharmaceuticals are proteins, antibodies, DNA, RNA, or antisense oligonucleotides created by methods other than direct extraction from a native (non-engineered) biological source for therapeutic or diagnostic reasons.

Red Biotechnology Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Because of the increased frequency of chronic and rare diseases and the high healthcare expenditure in this area, North America is likely to hold a substantial market share in the worldwide red biotechnology market. Furthermore, increased investments in R&D, as well as the use of advanced technologies in gene therapy, is driving the overall regional market to a large extent. In the United States, biotechnology companies have a high concentration of entrepreneurialism and research, with a biotechnology cluster based in the country.

The worldwide red biotechnology market in Europe is predicted to grow substantially in the near future due to rising product approvals, increasing mergers and acquisitions, increasing prevalence of genetic disorders, and surging funding for research and development. Furthermore, due to a growth in the number of small and medium-sized businesses in Germany, the red biotechnology market is expected to grow at a high CAGR over the forecast period.

However, the rising demand for high-quality, cost-effective medications in Asia has piqued the interest of competitors in the red biotechnology market. Biopharmaceutical behemoths in industrialized countries aim to develop research facilities for their manufacturing capacities in new territories, such as India and South Korea in Asia. These scenarios show the region's potential for growth. New entrants should consider Asia Pacific nations while planning their future investments.

KEY MARKET PLAYERS:

Hoffmann-La Roche, Ltd., Merck KGaA, Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Biogen Inc., Amgen Inc., AstraZeneca Plc., Takeda Pharmaceutical Company Ltd., Gilead Sciences, Inc., and CELGENE CORPORATION are some of the major companies operating in the global red biotechnology market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

• In 2020, Amgen and Adaptive Biotechnologies announced a strategic partnership to develop a COVID-19 therapeutic.
• Biogen presented new biosimilar safety and efficacy data in 2019, with the European Healthcare System expected to save 1.8 billion euros.