The report "Global Red Biotechnology Market, By Application (Biopharmaceutical Manufacture, Pharmacogenomics, Gene Therapy, and Genetic Testing), By End-user (Biopharmaceutical Business, Research Organizations, CMOs & CROs, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:
•In June Pfizer Inc. announced the establishment of the Pfizer Breakthrough Growth Initiative. Through this initiative, Pfizer will invest up to US$500 million in biotechnology companies to help provide funding and access to Pfizer’s scientific expertise to ensure continuity of the biotechnology companies’ most promising clinical development programs.
•In April 2020, Amgen and Adaptive Biotechnologies announced a collaboration aimed at helping address the COVID-19 pandemic. The companies will combine expertise to discover and develop fully human neutralizing antibodies targeting SARS-CoV-2 to potentially prevent or treat COVID-19. The mutually exclusive collaboration brings together Adaptive's proprietary immune medicine platform for the identification of virus-neutralizing antibodies with Amgen's expertise in immunology and novel antibody therapy development.

Key Market Insights from the report:

The global red biotechnology market accounted for US$ 353.1 billion in 2019 and is estimated to be US$ 584.8 billion by 2029 and is anticipated to register a CAGR of 5.2%. The market report has been segmented on the basis of application, end-user, and region.
•By application, the biopharmaceutical manufacturer segment is projected to account for a major market share in the red biotechnology market. Rising incidence and prevalence of chronic and rare diseases and rapid expansion of the biopharmaceutical industries are the key propelling factors in the biopharmaceutical manufacturer segment.
•By end-user, the target market is segmented into biopharmaceutical businesses, research organizations, CMOs & CROs, and others.
•By region, North America estimates for the highest share of the global red biotechnology market in 2018. The region is projected to continue its dominance in the global red biotechnology market in the coming years. A higher rate of adoption of new diagnostics and therapeutics along with the growing demand for efficient drug products is expected to fuel the red biotechnology market in North America.

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Competitive Landscape:

The prominent player operating in the global red biotechnology market includes Biogen Inc., Pfizer, Inc., Amgen Inc., AstraZeneca Plc., CELGENE CORPORATION, Gilead Sciences, Inc., F. Hoffmann-La Roche, Ltd., Regeneron Pharmaceuticals, Inc., Merck KGaA, and Takeda Pharmaceutical Company Limited.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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