IBISWorld defines the biomedical industry as an industry that uses organism, molecular, or cellular technology to develop agricultural, food, industry, or medical products. The scope of this industry is broad and encompasses products in agriculture, food, and medicine. This domain was adopted in this paper as a reference for global applied biotechnology industry market development. Data revealed that the revenue of the 2017 global biomedical industry reached US$ 261.72 billion, and the compound annual growth rate (CAGR) of the revenue between 2013 and 2017 was 0.04%. The United States and Europe own higher percentages of global revenue.
I. Industry scope
II. Overview of 2017 applied biotechnology industry
III. Future outlook of the applied biotechnology industry in Taiwan
IV. Future development directions and suggested strategies for the applied biotechnology industry in Taiwan
Figure 1 Interrelation between Taiwan’s applied biotechnology industries and their products/services
Figure 2 Changes in applied biotechnology industry output value between 2013 and 2017
Figure 3 2017 Output value and annual growth rate of each applied biotechnology subindustry in Taiwan
Figure 4 Taiwanese applied biotechnology industry manufacturers in the world in 2017—categorized according to the country in which they are involved
Figure 5 Prediction of future growth of the output value of each applied biotechnology subindustry in Taiwan