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Biotechnology in the US
IBISWorld, March 2009, Pages: 55
Biotechnology is the application of science and technology to living organisms as well as parts, products and models thereof, to alter living or non-living materials for the production of knowledge and biotechnology products and services. The definition of biotechnology as used by the US Census Bureau and the National Science Foundation is: the application of molecular and cellular processes to solve problems, conduct research, and create goods and services. Biotechnology includes a diverse collection of technologies that manipulate cellular, sub-cellular, or molecular components in living things to make products or discover new knowledge about the molecular and genetic basis of life, or to modify plants, animals and micro-organisms to carry desired traits. Such technologies include, but are not limited to: genetic engineering (e.g. recombinant DNA, gene therapy, cloning, antisense); hybridoma technology (to produce monoclonal antibodies); polymerase chain reaction or PCR amplification; gene mapping; DNA sequencing; restriction fragment length polymorphism (RFLP) analysis; and protein engineering. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Introduction
Discovering growth
Those who have the ability to take advantage of government grants, employ a highly skilled workforce and use new technology will see the greatest success in this growing industry. New discoveries that could circumvent stem cell research and a rapidly ageing population may also help boost already strong growth. As the industry approaches maturity, it may becomes dominated by very large companies. However, opportunities still exist for smaller companies that can either rely on innovative discoveries, or specialize in biotech processes which are being outsourced.
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