Red biotechnology, also known as medical biotechnology, is a subsector of biotechnology that focuses on medical and healthcare applications. It involves the use of biotechnology techniques to develop new drugs, therapies, and medical technologies for the treatment and prevention of diseases.
Market Dynamics:
Red biotechnology market is driven by several factors. These include the increasing global healthcare needs due to aging populations, rising chronic diseases, and pandemics. Advances in genomics, personalized medicine, and gene therapies are also key drivers. Additionally, government investments, regulatory support, and growing private sector interest contribute to the growth of red biotechnology, which aims to develop innovative medical treatments and therapies.
However, high costs associated with biologics drug development is expected to restrain the market growth.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook