A 2017, report Grand View Research projects the global biotechnology market is expected to reach USD 727.1 billion by 2025. In 2017, the biotech sector has a total market value of US $370 billion.
Global health care spend projected to reach $8.7 trillion by 2020 according to Deloitte. % of GDP spent on health care should also rise slightly, from an estimated 10.4 % in 2015 to 10.5 % in 2020. By 2020, 50 percent of global health care expenditures – about $4 trillion – will be spent on three leading causes of death: cardiovascular diseases, cancer and respiratory diseases.
Key growth drivers will include regenerative medicine and genetics in diagnostics. Many companies focusing on the development of regenerative therapies will drive sector growth through to 2025. Technological advancements pertaining to the penetration of artificial intelligence in this industry is expected to fuel progress with potential avenues. Machine learning will be used in order to understand individual cancer cases, while recommending clinical trials.
Continuous introduction of new biotechnological products to cater to healthcare entities that are involved in diagnosis, prognosis and biopharmaceutical development is estimated to propel the market
Decreasing costs and rise in number of services in this segment are expected to drive segment with lucrative avenues.
Tissue engineering and Regeneration
Cell Based Assay
Genexi Biotech Accelerator
In September 2017, Alexey Zhelyaskov founded GENEXI Biotech Accelerator. The project’s primary purpose was to seek out and provide grant support to cutting-edge biotech projects and to reward innovative research scientists, who have dedicated themselves to an alternative industry different from the conventional life-science paths.
GENEXI combines the professional expertise and practical experience in the industry to create an ecosystem for the biotech start-ups and pharmaceutical companies operating at various levels within an industry’s supply chain from all corners of the globe.
The platform offers an innovative solution for the e-commerce market, which will bring biotech producers, distributors, retailers and end-consumers together, facilitating cross-industry operations within the whole ecosystem.
According to GENEXI data, 2017 had total revenue from medical technologies rising 5.18% from 2017 to 2018. Clinical analysis in medical visualization had 29 billion dollars in profit in 2017.
In 2018 medical visualization revenue will increase by 4.42%. In laboratory diagnostics, revenue increased 6.37% from 2017 to 2018, while in healthcare IT the increase was 9.99%.
Overall, the biotech startups raised a record $11.5 billion in 2017. There was $2.5 billion raised in Q1 2018. In 2017, US $4.5 billion came from traditional Venture capital. The biotech fundraising was up 109% in 2017 versus 2016.
Written by Brian Wang, Nextbigfuture
Sources- Deloitte, Genexi, Grand View Research, Coinspeaker
Related Nextbigfuture Articles
Definitely by 2050, henetic engineering and other biotechnology will succeed in curing many diseases. Cancers, alzheimers, heart disease seem like conditions that will be basically cured. Effective longevity treatments like removing senescent cells will occur.
Some aspects of aging will be reversed. There is a trial of aging reversal in dogs over the next few years.
How soon can such success be achieved and become widespread?
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.