According to Polaris Market Research, the global biotech market size was estimated to be worth 753.48 billion US dollars, and the Compound Annual Growth Rate (CAGR) was estimated to be about 15.5%. It is predicted that the global biotech market size in 2024 will reach 1.3 trillion US dollars. North America accounts for the highest share of the global biotech market, taking up more than 40% of the entire market. One of the main reasons is the long-term support provided by the governments in the region. Also, biopharmaceutical manufacturers continue to put resources into developing innovative technologies and new drugs. In the meantime, in emerging markets with rapid growth, such as China and India, growth is expected due to increasing medical costs and construction of healthcare infrastructure.
I、Scope of Industry
II、Overview of Applied Biotechnology Industry
III、Development Opportunities and Suggestions for Applied Biotechnology Industry
Figure 1 Applied Biotechnology Industry and Products/ Services in Taiwan
Figure 2 The 2016-2020 changes in the production value of the applied biotechnology industry in Taiwan
Figure 3 The 2020 production value and growth rate of sub sectors in the applied biotechnology industry in Taiwan
Figure 4 Foreign countries with applied biotech companies from Taiwan in 2020 (by country/region)
Figure 5 Predicted future growth of sub sectors of applied biotechnology industry in Taiwan