Agricultural Biotechnology Market Size Worth $161.45 Billion By 2025

Tuesday 10 December 2019, Amsterdam

The global agricultural biotechnology market size is expected to reach USD 161.45 billion by 2025 growing at a CAGR of 7.07%, according to a new report. Advent of unique genetic resources and genome modification tools is anticipated to enhance understanding of plant biology over the coming years. Additionally, a rise in demand for biofuel owing to depletion of conventional fuel is further projected to propel the market growth.

Penetration of genetic engineering tools has been recognized as a solution to overcome the pitfalls of conventional vaccine production. Genetically engineered vaccines have the potential of transforming the vaccine development scenario in the future. These products are continuously assessed by vaccine developing companies to understand the significance of recombinant vaccines in clinical as well as economical aspects which has made significant contributions to the revenue generated by vaccine development application segment in 2018.

Development of transgenic livestock is expected to immensely impact the improvement of nutrition, human health, animal welfare, reducing diseased livestock, and enhancing environmental protection. Moreover, genetic modification carried out in stem cells, livestock, and others are attributed to result in high-quality food and more yield from livestock. Some of the frequently adopted techniques for the development of transgenic animals include recombinant retroviruses, pronuclear Injection, sperm-mediated DNA transfer, embryonic stem cells, germ cell transplantation, and nuclear transfer “Cloning”