The pharmaceutical biotechnology market comprises development, manufacturing and marketing of products manufactured on the basis of advanced biotechnology research. Pharmaceutical biotechnology industry focuses on biotech concepts of recombinant proteins, monoclonal antibodies, gene therapy and transgenic organism among others.
In 2008, the global biotech market grew by 8.8% and had a market value of $216.3 billion. The medical/healthcare was the most lucrative segment for the global pharmaceutical biotechnology market in 2008 that generated 69% of the biotech market´s overall revenues. Americas account for 57.9% of the total biotech market´s revenue and thus leads the global biotechnology market. As far as future predictions for biotech market are concerned, it is forecast to reach a value of $305.7 billion in 2013, an increase of 41.3% since 2008.
