The German biotechnology market is anticipated to grow at a CAGR of 7.5% during the forecast period (2020-2026). The presence of some of the major synthetic biology labs operating in the country includes the Institute of Applied Microbiology, Berlin Institute of Technology, LOEWE Center for Synthetic Microbiology Marburg, Ansbach University of Applied Sciences, and so on. The strong presence of such biology labs is anticipated to fuel the growth of the market. As per Germany Trade & Invest, there were around 679 dedicated biotechnological companies in the country whereas 141 other biotechnology-active companies in 2018. Around 50,000 people are working in these biotech companies. This is also expected to expand the biotechnology market across Germany.
Browse the full report description Germany Biotechnology Market Size, Share & Trends Analysis Report by Application (Bio-Pharmacy, Bio-Services, Bio-Agriculture, Bio-Industrial, and Bio-Informatics), and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/germany-biotechnology-market
The biopharmaceuticals drugs in clinical development have also increased in the country from 604 in 2014 to 639 in 2017, which shows significant investment in biopharmaceutical R&D. In 2017, around 51.0% of the total drugs approved in the country were biopharmaceuticals including drugs, vaccines, monoclonal antibodies, and insulin. The increasing number of drug approvals across the country is also expected to fuel market growth. Additionally, the country is one of the leading food and beverage markets in the European region. The German food and beverage industry is dominated by meat, dairy, baked goods, and confectionery with long-life bakery products.
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Germany Biotechnology Market Report Segment
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