Biotechnology And Life Sciences

Biotechnology and Life Sciences

The biotechnology industry uses living organisms or biological systems to develop biopharmaceutical drugs. The biotechnology industry is prominent in the developed economies of North America and Europe. According to Insights and Reports, in 2016, more than 700 public companies and over 250,000 employees generated revenue of an excess of US$ 130 billion.

U.S. is the leading country for this industry, with a total market capital of US$ 900 billion in 2016. Approximately 150,000 employees are employed by the public organizations in the U.S. San Francisco is considered to be the hub for the leading biotechnology companies across the globe. In 2015, there were more than 85 public companies operating in this industry that are based in San Francisco. In US, San Francisco is followed by New England, housing more than 75 public companies operating in this industry in the same year. Gilead Sciences Inc. is one of the key players operating in the field of biotechnology and life sciences since 2014. Further, four out of the top five biotechnology companies that includes Gilead Sciences Inc, Celgene Corporation, are based in the U.S. Biotechnology finds wide application in agriculture, in the form of genetically modified crops in order to increase its resistance. The U.S. has the highest acreage of genetically modified crops across the world.

Biotechnology products find wide usage in oncology and autoimmune disease treatments. The costs, however are very high due to extensive research and trial activities that are carried out. Due to this factor, there is a low presence of such products in emerging economies such as Asia Pacific and Latin America among others. Further, lack of awareness among the healthcare providers, especially in the emerging economies has led to reduced adoption for the same, which is another factor resulting in market slowdown.

Some of the key players operating in this industry include Roche Holding A.G., Gilead Sciences Inc, Amgen Inc., Biogen Inc., Regeneron Pharmaceuticals Inc., and Alexio Pharmaceuticals Inc. among others.

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