Asia-Pacific biotechnology market is estimated to grow at a CAGR of 7.1% during the forecast period. The biotechnology industry in Asia-Pacific was valued at $94 billion in 2019 and anticipated to grow significantly during the forecast period. Countries in Asia-Pacific that are contributing to the market growth include China, India, and Japan. The rising healthcare expenditure, the increasing R&D and investments by big pharmaceutical companies in life science research are some factors that are driving the market growth in the region. Asia-Pacific region despite the economic slowdown in economies such as in India; the increasing public health care programs including the increasing private wealth is expected to boost the region’s health care spending. Moreover, the growing demand for advanced healthcare facilities in emerging economies such as China, and collaboration among the market players for the development of innovative products are some other factors that are significantly contributing to the market growth.

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Asia-Pacific biotechnology market is classified on the basis of type. Based on type, the market is segmented into healthcare, crop production and agriculture, industrial, natural resources & environment, and others. Among these applications, biotechnology finds its significant application in healthcare in the study of genes. Many organizations are now involved in collecting, processing, distribution, and storage of human tissues to aid investigators in biomedical research.

Geographically, the Asia-Pacific biotechnology market is analyzed for China, Japan, India, and the Rest of Asia-Pacific. China contributed the major share in the Asia-Pacific biotechnology market in 2019 and is expected to retain its position during the forecast period. The dominance of China in the Asia-Pacific market is mainly due to the presence of a substantial health workforce in the country. India is projected to exhibit a considerable CAGR in the Asia-Pacific biotechnology market during the forecast period, owing to the rising medical tourism in the country.

The companies which are contributing to the growth of the Asia-Pacific biotechnology market include Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market. 

Research Methodology

The market study of the Asia-Pacific biotechnology market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

The Report Covers

• Comprehensive research methodology of the Asia-Pacific biotechnology market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific biotechnology market.
• Insights about market determinants which are stimulating the Asia-Pacific biotechnology market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.