Biotechnology Research Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/28/2021
SIC Codes: 8731, 8733
NAICS Codes: 541714
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Biotechnology Research Services Industry Profile

Companies in this industry engage in biotechnology research and development to produce processes or prototypes of new or genetically altered products using microorganisms and cellular and biomolecular techniques. Major US organizations engaged in biotechnology research include the Howard Hughes Medical Institute (HHMI), the Jackson Laboratory (JAX), and Scripps Research; institutes affiliated with government research agencies and major universities, such as the Whitehead Institute (MIT); and the research departments of large biotechnology companies such as Amgen, Genentech, and Sanofi Genzyme. Large organizations based outside the US include Babraham Institute and the Wellcome Sanger Institute (both in the UK); Hong Kong Institute of Biotechnology (HKIB) (Hong Kong); and Flanders Institute for Biotechnology (VIB) (Belgium).

Top global spenders on R&D in science and technology include the US, China, Japan, Germany, and South Korea, according to the Organization for Economic Cooperation and Development (OECD). Biotechnology is expected to grow in emerging markets in Asia and Latin America as a rising middle class and greater economic development lead to the need for advancements in health care, agricultural production, and energy.

The US biotechnology research services industry includes about 3,000 establishments (single-location companies or units of multi-location companies) with combined annual revenue of about $25 billion. The industry does not include manufacturers or contract research organizations that test products for market.

COMPETITIVE LANDSCAPE

Demand for biotechnology research in the fields of agriculture (food and biofuel), medicine, and science is ...

 
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