European biotechnology market is estimated to grow modestly, at a CAGR of 6.9%, during the forecast period. The European biotechnology industry was valued at $112 billion in 2019 and anticpated to grow significantly during the forecast period. The key driving factor of the market is the well-developed healthcare sector and considerably high healthcare expenditure and infrastructure in its economies such as Germany, UK, France, Romania, and Portugal, among others. Factors that are augmenting the market include increasing government funding in cell harvesting area, increasing R&D spending in cell-based R&D of 3D cell culture technology in the European region. Europe has made significant R&D investments in biotechnology mainly focused on the shift towards the use of live model systems for drug discovery and evaluation, use of animal-derived component-free media and reagents, and growing demand for advanced biologics and bio-similar produced by biopharmaceutical manufacturers.
Get Free Sample Copy @ https://www.omrglobal.com/request-sample/european-biotechnology-market
European biotechnology market is classified on the basis of type. Based on type, the market is segmented into healthcare, crop production and agriculture, industrial, natural resources & environment, and others. Among these applications, biotechnology finds its significant application in healthcare in the study of genes. Many organizations are now involved in collecting, processing, distribution, and storage of human tissues to aid investigators in biomedical research.
Browse for Full Report Description@ https://www.omrglobal.com/industry-reports/european-biotechnology-market
Geographically, European biotechnology market is segmented into Germany, UK, France, Italy, Spain, and rest of Europe. Germany contributed the major share in the European biotechnology market. The growth is owing to the various healthcare facilities and well-developed healthcare infrastructure. UK and France have a world-class healthcare system providing a stable platform for the growth of the biotechnology market in the respective countries. Apart from the major European countries, Switzerland, the Netherlands, Denmark, Norway Ireland, Hungary, and Belgium are some other countries of Europe that are providing a significant contribution to the growth of the biotechnology market.
The companies which are contributing to the growth of the European biotechnology market include Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market.
Market Segmentation
European Biotechnology Market by Type
• Healthcare
• Crop Production and Agriculture
• Industrial
• Natural Resources & Environment
• Others (Bioinformatics)
Regional Analysis
• UK
• Germany
• Italy
• France
• Spain
• Rest of Europe
Company Profiles
• Abbott Laboratories
• AbbVie Inc.
• Alere Inc.
• Alkermes PLC
• Amgen Inc.
• AstraZeneca PLC
• Biogen Inc.
• Bristol-Myers Squibb Co.
• CSL Ltd.
• F. Hoffmann La-Roche Ltd.
• Johnson & Johnson Services Inc.
• Novartis AG
• Novo Nordisk A/S
• Pfizer Inc.
• Regeneron Pharmaceuticals, Inc.
• Sanofi SA
• Thermo Fisher Scientific Inc.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/european-biotechnology-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
• Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 780-304-0404