While the demand for COVID-19 vaccines and antiviral drugs has decreased in 2022, sectors such as precision medicine and other emerging therapeutic areas continue to expand. Specifically, substantial advancements have been made in the development of orphan drugs, contributing to the stable expansion of the global biotechnology market. A report by Polaris Market Research estimates that the global biotechnology market was valued at US$ 1.2 trillion in 2022, which is expected to reach US$ 2.1 trillion by 2026 with a projected Compound Annual Growth Rate (CAGR) of 15.6% from 2022 to 2026. North America dominates the global market, accounting for over 40% of the overall market size. This predominance is largely attributed to long-term government policy support, the development of infrastructure, and significant investments in innovative biotechnology startups. The Asia-Pacific region, featuring rapidly evolving countries such as Mainland China, India, and Vietnam, is experiencing rapid growth in the biotechnology industry market. This growth is driven by the continual development of healthcare infrastructure, enhanced government policy support, and increased research and development (R&D) investments by manufacturers in the Asia-Pacific region. Collectively, these advantageous conditions are anticipated to propel a continuous increase in market size in the forthcoming years.
I、Definition and Scope of Industry
II、Observation of the Applied Biotechnology Industry Environment
III、Developmental Opportunities and Suggestions for the Applied Biotechnology Industry
Figure 1 Applied Biotechnology Industry and Products/Services in Taiwan
Figure 2 The changes in the production value of the applied biotechnology industry in Taiwan from 2018-2022
Figure 3 The production value and growth rate of sub-sectors in the applied biotechnology industry in Taiwan in 2022
Figure 4 Predicted future growth of sub-sectors of the applied biotechnology industry in Taiwan