A report by Polaris Market Research estimates that the global biotechnology market was valued at approximately US$ 1.5 trillion in 2023, which is expected to reach US$ 2.4 trillion by 2027 with a projected Compound Annual Growth Rate (CAGR) of approximately 13.4% from 2023 to 2027. North America continues to maintain its leading position in the global biotechnology market. This is mainly due to the US government's policy support for the R&D of diversified technology, substantial healthcare and medical expenditures, the rapid development of -omics, cell and gene therapy technology platforms for emerging biotechnologies, the increasing prevalence of chronic diseases, and expanding applications of personalized medicine. The Asia-Pacific region has become the fastest-growing market for the biotechnology industry due to the local government policy support, increased investment by biotech companies in the region, and the gradual completion of the region's healthcare-related infrastructure. The market size in the Asia-Pacific region is expected to continue growing in the future.
I、Definition and Scope of the Industry
II、Observation of the Applied Biotechnology Industry Environment
III、Developmental Opportunities and Suggestions for the Applied Biotechnology Industry
Figure 1 Applied Biotechnology Industry and Products/ Services in Taiwan
Figure 2 The 2019 - 2023 changes in the production value of the applied biotechnology industry in Taiwan
Figure 3 The 2023 production value and growth rate of sub-sectors in the applied biotechnology industry in Taiwan
Figure 4 Predicted future performance of sub-sectors of the applied biotechnology industry in Taiwan