Biotechnology is among some of the fastest growing markets which have gained good attention in the recent times. In our Biotechnology Market Research Reports we largely highlight the emerging trends in the biotechnology market. Biotechnology is a market that is not just restricted to the laboratories now, but is touching almost every aspects of the lifestyle. The applications of biotechnology in areas such as agriculture, waste management and healthcare have revolutionized the entire segment. The new products out of biotechnology such as GMO vegetables, efficient pesticide and good quality seeds are now on a good ride. Biotechnology is also playing a major role in the healthcare segment and is contributing well in the invention of many lifesaving vaccines. Considering growing preference for biotechnology, the market for biotechnology across the globe is expected to grow with an eye-popping CAGR of 12.3% between 2015 and 2021.
In our Biotechnology industry report, we are focusing majorly on the global vaccination market as biotechnology application in this healthcare segment has gained much attention in the recent times. With the growing patients, vaccines are likely to be in greater demand, driving biotechnology segment ahead. Further in the biotechnology industry analysis there is some more market segmentation data which is impressive. It is interesting to know that vaccine market alone contributes to about 3% to overall market growth. Hence many key players in the league are looking for bringing in new innovations to further push the demand for vaccines in the market. Considering the low risk factor of side-effects involved in the usage of vaccines, government is also making impressive moves to promote usage of vaccines which is likely to add meaningfully to overall market growth.
But there are some challenges that vaccine market is dealing with. The main problem in this segment is the issue of storage, handling and shipping. But the companies are dealing with this issue and are looking for safer storage methods to preserve its efficiency.