The urgent growth in the industry is attributed to the emergence of the SARS-COV-2 infection, the Net Zero by 2050 deadline, and the alarming world population predictions, to name a few, propelling heightened interest and investment in biotech start-ups and supportive government initiatives world-over.
According to a new report by Vision Research Reports, the global biotechnology market size was valued at US$ 752.88 billion in 2020, and it is expected to be worth around US$ 3.44 trillion by 2030. The urgent growth in the industry is attributed to the emergence of the SARS-COV-2 infection, the Net Zero by 2050 deadline, and the alarming world population predictions, to name a few, propelling heightened interest and investment in biotech start-ups and supportive government initiatives world-over.