The Middle East and Asia Pacific Biotechnology Market, by Technology (Nanobiotechnology, Tissue Engineering and Regeneration, Fermentation, Cell Based Assay, CRISPR, and Others ), by Application (Molecular Biology, Gene Synthesis, Gene Editing, Mammalian Protein Expression, Recombinant Antibody Expression, Peptide Synthesis, Protein Expression, Monoclonal and Polyclonal Antibody Generation, and Others), by End User (Biotechnology & Pharmaceutical Companies, Research Institutes & Laboratories, Academic Institutions, and Others), and by Region (Asia Pacific and Middle East), is estimated to be valued at US$ 249.8 Billion in 2022 and expected to exhibit a CAGR of 14.2% during the forecast period (2022-2030).
The increasing number of biotech product launches by key market players is expected to drive growth of the Middle East and Asia Pacific biotechnology market during the forecast period. For instance, in June 2019, Synthego, a global genome engineering solutions company with its presence in Asia Pacific region, announced the launch of the Gene Knockout Kit v2. This is the only product that leverages a novel bioinformatics-powered multi-guide strategy to guarantee a gene knockout. The kit will accelerate research by saving scientists from multiple trial-and-error cycles in optimizing their CRISPR (Clustered regularly interspaced short palindromic repeats) experiment.
The increasing number of partnerships between market players is expected to propel growth of the Middle East and Asia Pacific biotechnology market during the forecast period. For instance, in June 2019, GlaxoSmithKline Plc, a U.K.-based healthcare company with its presence in Middle East and Asia Pacific, announced its collaboration with the University of California (UC), in order to establish a new lab that focuses on speeding up discovery of new gene based treatments by developing new CRISPR-based technologies and exploring how gene mutations lead to any disease.
Middle East and Asia Pacific Biotechnology Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has affected several markets across the globe. The COVID-19 pandemic has affected demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and through its financial impact on firms and financial markets.
However, COVID-19 will drive growth of the market over forecast period, owing to new launches of COVID-19 test kits. For instance, in February 2021, PerkinElmer Inc., a company that offers products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide, launched a lateral-flow immunoassay COVID-19 antigen test, a rapid antigen test suitable for mass COVID-19 screening or for diagnosis of asymptomatic or symptomatic individuals. The test can be used to detect SARS-CoV-2 nucleocapsid protein antigen in nasal or nasopharyngeal swab specimens from asymptomatic or symptomatic individuals. Positive or negative results can be obtained in as little as 15 minutes.
Browse 106 Market Data Tables and 132 Figures spread through 415 Pages and in-depth TOC on Middle East and Asia Pacific Biotechnology Market, by Technology (Nanobiotechnology, Tissue Engineering and Regeneration, Fermentation, Cell Based Assay, CRISPR, and Others ), by Application (Molecular Biology, Gene Synthesis, Gene Editing, Mammalian Protein Expression, Recombinant Antibody Expression, Peptide Synthesis, Protein Expression, Monoclonal and Polyclonal Antibody Generation, and Others), by End User (Biotechnology & Pharmaceutical Companies, Research Institutes & Laboratories, Academic Institutions and Others), and by Region (Asia Pacific and Middle East)
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Key Takeaways of the Middle East and Asia Pacific Biotechnology Market:
- The Middle East and Asia Pacific biotechnology market is expected to exhibit a CAGR of 14.2% over the forecast period (2022-2030). Asia Pacific is expected to account for a major market share over the forecast period (2022-2030), owing to increasing strategic licensing agreements by market players. For instance, in July 2021, Biocon Biologics Ltd., a fully integrated biosimilar company and a subsidiary of Biocon Ltd., announced that the U.S.-based Adagio Therapeutics granted an exclusive license to Biocon Biologics to manufacture and commercialize an antibody treatment based on ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses, for India.
- Moreover, launches of new initiatives by market players to support molecular biology research and services in Middle East region will aid in growth of the Middle East and Asia Pacific biotechnology market. For instance, in February 2019, Neuberg Diagnostics, an India-based diagnostic company, and OptraSCAN Inc., a U.S.-based global digital pathology solutions provider, announced the launch of Global TELEPath Network for the pathologist community in South Africa, UAE, and India. Moreover, this network was launched under a new joint venture named Neuberg DIGIPATH, which is powered by OptraSCAN Inc.
- Some of the major players operating in the Middle East and Asia Pacific biotechnology market include Abbott Laboratories, Pfizer Inc., Abbvie Inc., Biocon, F. Hoffmann-La Roche Ltd., PerkinElmer, Inc., Astrazeneca Plc., Illumina, Inc., Sanofi S.A., Qiagen, Twist Bioscience, Thermo Fisher Scientific Inc., Biointron, Merck & Co., Inc., Sino Biological Inc., GeneWiz (Azenta Life Sciences), Danaher Corporation, and Synbio Technologies.