The Biotechnology Industry is witnessing an increase in collaborative partnerships with a view to developing newer techniques. During its “green wave” period the industry produced a number of agricultural applications. During its “red wave”, there were a number of developments in the medical space to target disease prevention and management. In its “white wave”, industrial applications were at the forefront. A further rise in demand for therapeutics and diagnostic solutions on principles of ‘red wave’, DNA sequencing, and recombinant technology is expected to propel huge growth. Prevention, management and cure of chronic diseases such as hepatitis B, cancer, HIV and childhood disorders is expected to further fuel growth. Optimized development of DNA technology is expected to serve this sector as a high impact rendering growth driver. It is expected to encourage researchers and manufacturers to increase R&D initiatives targeted at understanding genetic variations and developing therapeutic solutions for chronic diseases with large global prevalence such as cardiovascular diseases, diabetes, and cancer. Personalised medicine, biosimilars, bioinformatics, management of genomic data through studies on plants, animals and human genomes is also expected to drive segment growth during the forecast period.

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