Chairman of the Board of Directors of Biotechnology Specialized Organized Industrial Zone (BİOSB) and Biotechnology Industrialists Association (BİYOSAD). Ercan Varlıbaş shared up-to-date information about the global biotechnology market and data in this field.
Dr. Citing the data published by the international market research company Precedence Research in July 2023, Ercan Varlıbaş announced that incentives and investments in the field of biotechnology have increased all over the world, and also explained that Turkey is also on an investment offensive with the Biotechnology Valley project.
APPROXIMATELY 3 TRILLION WILL REACH 250 BILLION US DOLLARS BY 2030
Dr. According to the information provided by Varlıbaş, the global biotechnology market size reached 1 trillion 224 billion US dollars in 2022. In 2023, this volume is expected to be 1 trillion 378 billion US dollars.
The global biotechnology market will grow at a Compound Annual Growth Rate (CAGR) of 12.8 percent from 2023 to 2030. It will increase to approximately 3 trillion 250 billion US dollars by 2030.
The North American region, which has an assertive position in biotechnology with a 37.76 percent revenue share in 2022, is in a structure to lead the global biotechnology market in the 2023-2030 period.
The Asia-Pacific region, which achieved a revenue share of 23.8 percent in 2022, is the fastest growing region in the biotechnology market. Asia-Pacific will reach a growth rate of over 13.7 percent by 2030.
The biotechnology sector is on the rise, especially in China, Japan and India, and the market is driven by government initiatives. Within the scope of government policies, processes such as standardizing clinical studies, developing reimbursement policies and accelerating the product approval process are targeted. With all these regulations, it is planned to create growth potential in the sector. In addition, studies in the fields of creating new traits in agricultural crops and developing technologies such as germplasm through gene sequencing are among its priorities. Increasing investments in the development of genomic techniques such as cell-based analysis and Polymerase Chain Reaction (PCR) will also lead to significant developments in developing countries.
Big data produced by techniques such as nucleic acid and protein acid sequencing requires data interpretation and management. With these data, biotechnology will be in an even more important position in the future.
THE MOST GROWTH EXPECTATION IS IN BIOPHARMACY
Biopharmaceuticals is a dominant field in the biotechnology market. The sector is growing as a result of the rising prevalence of diseases and the increase in demand for medicines. On the other hand, the increase in demand for nucleic acid and protein sequencing, the development of proteomics and genomics, and increasing research on molecular biology constitute growth factors for the bioinformatics segment. In this direction, bioinformatics will also grow rapidly by 12.6 percent.
Türkiye WILL ATTACK WITH BIOTECHNOLOGY VALLEY
Dr. also touched upon the importance of the Biotechnology Valley project for the Turkish economy. Varlıbaş said, “With Biotechnology Valley, we aim to gain an important place in the world and get a significant share. In this context, the Biotechnology Valley, which is being established in the Istanbul Biotechnology Specialized Organized Industrial Zone (BIOSB), designed as a biotechnology base, includes companies that will create added value in the field of biotechnology from all sectors, as well as all stakeholders of the industry such as test and calibration centers, technology transfer offices, universities. will take. Important projects and production of value-added products will be carried out in the Biotechnology Valley. Biotechnology Valley is one of the important projects that will support the Turkey Century vision, which our President Recep Tayyip Erdoğan emphasizes and emphasizes at every opportunity.” he emphasized.