The global biotech industry is one of the youngest but very popular industries all over the world. The biotechnology can be broadly defined as the use of organisms or living systems for development or manufacture of the products that has any specific use.
Facts & Features
As people are becoming aware about the benefits of biotech industry, the growth of this industry is increasing at very fast rate. It has been estimated by the experts that the annual average revenue of global biotech industry is more than US$ 90 billion. Regardless of biotech market segmentation on global level, the biotech industry market size and revenue is expected to exceed US$200 billion mark in 2016.
Major companies in this sector
Some major companies in this sector are Johnson & Johnson, Novartis, Roche, Pfizer, Sanofi and Merck. But, with increasing competition these companies have to use various Brand Building & Positioning Tactics to stay ahead in global market.
The major countries in biotech industry business are Italy, Brazil, Malaysia, India, Canada and USA.
Although, the sale of biotech product is less around the world due to fluctuation in the economy, still biotech industry business have lot of potential in future years. Most of the companies in this field are doing continuous research and development for innovative products. In addition to that, the biotech industry and changing global trends includes the increasing interest of private investors in this field.
Market size and share
The biotech market share analysis offers comprehensive information about infinite potential of this industry regarding growth in market size and share due to continues entry of new players in market.
Although, most of the companies have tasted failure in this field, but the future global biotech industry outlook remains very bright as there is lot of potential in this field. But, for getting success, these companies have to make many changes in business strategies, cost structure, industry policy and plan and business models.