Biotechnology Services Market

Biotechnology services refer to applying scientific and engineering principles to the processing of materials by biological agents to produce goods and services.

The biotechnology industry is comprised of companies that use living cells and biomolecules to develop products and services that help improve our lives. The industry is involved in a wide range of activities, from designing new crops and food products to making advances in medical therapies and creating environmentally friendly biofuels.

Biotechnology companies provide a variety of services, including research and development, manufacturing, consulting, and marketing. They may also provide contract research services to other companies or organizations.

The US biotechnology services market is currently valued at around $ XX  billion and is expected to grow to $XX billion by 2031, at a CAGR of XX %. The main drivers of this market growth are the increasing demand for personalized medicine, the need for cost-effective drug development, and the growing number of clinical trials being conducted in the US.

Some of the key players operating in the biotechnology services market are Charles River Laboratories International, Inc., Thermo Fisher Scientific, Inc., General Electric Company, Merck KGaA, Illumina, Inc., and Wuxi AppTec Co., Ltd.