The agricultural biotechnology market is growing at a significant rate due to growing cultivation area of genetically modified crops and rising demand for bio fuels. Increased research and development activities and regulatory support in Asia-Pacific and Africa are giving ample opportunities to the agricultural biotechnology market to grow at a significant rate in the coming years. North America dominates the agricultural biotechnology market due to greater focus on bio-services and higher adoption of biopharmaceuticals.
Biotechnology has extensive opportunity in science based companies and research firms. Biotechnology is significantly useful in the area of medicine and healthcare. The pharmaceutical industry is witnessing several biotechnologies related research and development activities. Bioinformatics and Pharmaco-genomics are interdisciplinary fields, which have stemmed from biotechnology, and considerable development has been made in the areas of drug delivery, personalized medicine and drug discovery. Biotechnology ensures high crop yield, better crop quality and better nutritional value of crops in the area of agriculture.
Agricultural biotechnology is a collection of tools and scientific procedures used on living organisms and plants for improving agricultural crop productivity. Agricultural biotechnology is mainly used to modify the genome sequence of crops and the crops are termed as transgenic or genetically modified crops. Agricultural biotechnology benefits producers and farmers by yielding more crop and high-quality food.
Agricultural biotechnology is used by various methods such as molecular markers, vaccines, genetic engineering, tissue culture and molecular diagnostics. Genetic engineering is to transfer useful characteristics, such as resistance, to a disease with the help of genes from one organism to another. Molecular markers are used by scientists to select plants or animals that possess a desirable gene, even in the absence of a visible trait. For instance, the molecular markers are used by International Institute of Tropical Agriculture to obtain disease resistant white yam, cowpea resistant to bruchid and cassava resistant to cassava mosaic disease. Molecular diagnostics are used to detect genes that are very specific and are mainly used in agriculture to diagnose crop or livestock diseases more accurately. Biotechnology derived vaccines are used in livestock and humans. In Philippines, biotechnology was used to develop an enhance vaccine to protect water buffalo and cattle against hemorrhagic septicemia, which is a leading cause of death for water buffalo and cattle. Tissue culture is used to regenerate plants in laboratory from disease free plant parts. Some of the crops produced by using tissue culture are pineapples, bananas, avocados, mangoes, citrus, papaya and coffee.
On the basis of technologies, the agricultural biotechnology market can be categorized as crop modification platforms, genome editing, agricultural biological, crop technologies, seed technologies, next generation sequencing, biochips, synthetic biology, agricultural biotechnology tools and ribonucleic acid (RNA) interference. The agricultural biotechnology market can also be categorized on the basis of applications, such as synthetic biology enabled products and tools, and transgenic crops. Transgenic crops include soybean, cotton and corn.
Some of the factors driving the growth of the agricultural biotechnology market are increasing demand for food and regulatory support in the U.S. and Brazil. Strong opposition for genetically modified (GM) crops in Europe is one of the major factors restraining the growth of the agricultural biotechnology market to some extent.
Some of the competitors in the agricultural biotechnology market are Dow AgroSciences LLC, Global Bio-chem Technology, Performance Plants Inc., Syngenta AG, Bayer CropScience AG, KWS SAAT SE, Pioneer Hi-Bred International Inc., Monsanto Company, ADAMA Agricultural Solutions Ltd, Evogene Ltd, Mycogen Seeds, Certis USA, and Vilmorin & Cie SA.
Report Coverage
- Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
- Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
- Uncovers potential demands in the market
- Porter analysis identifies competitive forces within the market
- Provides information on the historical and current market size and the future potential of the market
- Provides sizes of key regional markets using yardsticks of segments, applications, and segments of applications
- Highlights the competitive scenario of the market, major competitors, and benchmarking
- Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.