Global Pharmaceutical & Biotechnology Environmental Monitoring Market Highlights over 2022 – 2031
The global pharmaceutical & biotechnology environmental monitoring market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Pharmaceutical and biotechnological research activities require environmental monitors to ensure the safety of the formulated drug products. The growth of the market can be attributed to the growing adoption biotechnology for medical research and development activities, as the growing research activities is bound to surge the demand for environment monitors. Furthermore, increasing government investment in the biotechnology industry, along with favorable reimbursement policies for the biotech research projects, are anticipated to boost the market growth. For instance, in the U.S. around USD 100 billion were invested in biotech companies, in 2020. Moreover, the development of technology in healthcare sector, backed by increasing R&D activities, is further estimated to boost the market growth. According to the World Health Organization statistics, in 2021, gross domestic R&D expenditure on health (health GERD) as a percentage of total GERD was highest in East Mediterranean with 14.8%, followed by Americas at 12.8% and South-East Asia at 12.4%.
The market is segmented by end-user into pharmaceutical industry, biotechnology industry, academic & research institutes, and others, out of which, the biotechnology industry segment is anticipated to hold a substantial share in the global pharmaceutical & biotechnology environmental monitoring market over the forecast period on account of increasing funding for research activities in the industry, along with growing number of biotech researchers, especially in developed countries. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Pharmaceutical & Biotechnology Environmental Monitoring Market Regional Synopsis
On the basis of geographical analysis, the global pharmaceutical & biotechnology environmental monitoring market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing development and adoption of advanced biotechnology in developing countries, including, India, China, and Japan. Moreover, increasing investment in biotech companies is further projected to boost the market growth. According to the data by the India Brand Equity Foundation (IBEF), around 2,500 biotech companies were established in the country. The Indian biotechnology industry amounted to USD 63 billion in 2019. On the other hand, the market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of advanced healthcare infrastructure, and high focus on medical R&D activities.
The global pharmaceutical & biotechnology environmental monitoring market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global pharmaceutical & biotechnology environmental monitoring market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Increasing investment in biotechnological researches to develop new drugs is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.
The major players in the market are Springer Nature Limited, Applied Microarrays Inc., C D Genomics, RELX Group, MilliporeSigma, QIAGEN, Agilent Technologies, Inc., Danaher Corporation, Eppendorf SE and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-user, and by region.
The biotechnology industry segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
The requirement of high investment is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities for growth over the forecast period owing to the advancement in technology in the healthcare sector.
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