Biotechnology is the application of scientific and technological principles to the biological processing of resources to create goods and services. It includes employing microbes to develop new products and procedures that can improve human life. Growing research in bioprinting, which involves using 3D printers to create living tissues and organs, can completely change the transplantation sector and do away with the necessity for organ donors.
The global biotechnology market, a dynamic and rapidly evolving sector, is anticipated to be valued at an impressive USD 1.7 trillion by 2025. This thriving industry is set on a trajectory to soar to a staggering USD 7.2 trillion by 2035, reflecting a robust compound annual growth rate (CAGR) of 14.18% throughout the forecast period. This remarkable growth underscores the increasing significance of biotechnology in addressing healthcare challenges, enhancing agricultural productivity, and driving innovation across various fields.