In 2019, due to the US-China trade war, technology war, territorial disputes in the South China Sea, and the COVID-19 pandemic, the global economy did not grow as expected. It was predicted that the global economy would suffer great losses in 2020. For the biotechnology industry, however, unmet medical needs and the focus on emerging treatment methods have increased due to the pandemic, thus leading to a favorable industrial outlook.
According to Global Market Insights, the global biotech market size was estimated to be worth 417 billion US dollars, and the 2018-2025 Compound Annual Growth Rate (CAGR) was estimated to be 8.3%. In 2024, the global biotech market size will exceed 700 billion US dollars. Meanwhile, the 2018-2025 CAGR in the Asia-Pacific market was estimated to reach 9.0%, making it the region with the fastest growth in the world, thanks to China and India, the two countries with staggering populations and health problems derived from population aging.
I、Scope of Industry
II、Overview of Applied Biotechnology Industry in 2019
III、Development Opportunities and Suggestions for the Applied Biotechnology Industry
Figure 1. Applied Biotechnology Industry and Products/ Services in Taiwan
Figure 2.The 2015-2019 changes in the production value of the applied biotechnology industry in Taiwan
Figure 3.The 2019 production value and growth rate of sub sectors in the applied biotechnology industry in Taiwan
Figure 4.Foreign countries with applied biotechnology companies from Taiwan (categorized by country/region)
Figure 5.Predicted future growth of sub sectors of applied biotechnology industry in Taiwan