Biotechnology Market Research: Forecasts for Biotech Industry

Albany, New York (PRWEB) September 10, 2014

Simply stated, biotechnology is the technology based on biology. It is a technology in which biomolecular and cellular processes are exploited and used for developing products and technologies for the betterment of living beings and our planet.

Biotechnology has been applied since ancient times for the production of food products such as cheese, breads and for the preservation of dairy products. But recent developments in molecular biology have given biotechnology new meaning, new prominence, and new potential. It is (modern) biotechnology that has captured the attention of the public. Modern biotechnology can have a dramatic effect on the world economy and society but owing to the recent developments in molecular biology, modern biotechnology has acquired new prominence and potential. Modern biotechnology has allowed the discovery of many breakthrough products and technologies allowing development of better and efficient medicines for many rare diseases, products that have lesser impact on the environment, cleaner energy sources, biologically advanced seeds and crops and many more.

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Currently, there are over 250 biotechnologically produced vaccines and health care products available in the market, capable of curing previously incurable diseases and conditions. Millions of farmers across the globe are using biotechnology in agriculture to increase crop yields, grow crops that are invulnerable to insects and pests and reduce impact of farming on the environment. Many biorefineries are being built across the world in attempts to refine and test technologies for the production of chemicals and biofuels biodegradable substances.

Many recent developments have helped this field in providing reliable solutions to the worlds most pressing issues: health, energy and food. Heres how:

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Biotechnology has changed the odds of many serious, earlier incurable conditions that affect millions of people in the world. It has also allowed in tailoring treatments according to individual conditions and cases, thus minimizing health risks occurring from side-effects. Also, more precise, accurate and rapid tools for detection of diseases and conditions has also been made possible by this field.

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This has helped in generating higher yields from crops with the similar or even fewer amounts of inputs. Crops that are tolerable to insects and pests also need fewer amounts of agricultural chemicals, reducing the run-off and mixing of such chemicals with the environment, thus substantially reducing harm to it. This also reduces the amount of work required by farmers for tilling their farmlands. Biotechnology also makes it possible to develop crops with improved nutrition profiles, resulting in vitamins and nutrient rich food stuffs.

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Biotechnology Market Research: Forecasts for Biotech Industry