Advances in biotechnology have expanded its industrial and commercial applications beyond agriculture and medical markets. An array of technical factors have been drivers and/or accelerators of the strides in the biotechnology market. Recombinant DNA (rDNA) technology has increased the scope of synthetic biology, and has been one of key technical drivers of the industry over the past five decades. In recent years, the cost of DNA sequencing has decreased considerably, paving way to commercialization of a slew of biotechnology products. Industry players have been leveraging modern tools of genome editing, such as CRISPR-Cas9, along with advances in bioinformatics to scale analysis and design of these products.
Understanding the role of how RNA interference (RNAi) modulated gene expression has helped scientists unveil new synthetic biology tools for agriculture. Standardization in synthetic biological parts and rapid design-build-test-learn cycles are at the forefront of technical factors accelerating the advances in the biotechnology market. More promising biotech products will also hit the market in coming years from advances in public and private biofoundries. Apart from technical drivers for the biotechnology market, social and economic drivers have also gained significance from growing interest of the private players and participation of governments, particularly of developed markets such as in North America and Europe. The growing complexity of genome editing for deciding biotechnology regulatory system is a case in point.
Evolving regulatory frameworks for biotechnology markets in various markets must focus on the societal concerns, in addition to technical risks. Further, trends in regulations and government oversight will set new paradigms for research and product development, such as by diversifying sources of capital. These frameworks will also play crucial role in shaping the intensity of competition and deciding entry barrier level for new entrants.
Our intelligence reports on various biotechnology markets shed light on various technical, societal, and economic drivers, including the role of governments. A number on reports shed light on non-traditional actors that set the pace for new niches in specific biotechnology markets. New avenues for next-generation biotechnology products are also analyzed in a few reports.