Global Biotechnology Market at a CAGR of 11.60% 2012-2017
The biotechnology market is primarily driven by the regulatory support provided by governments of various countries, increasing food demand, advancement of technology to combat fatal diseases and depleting natural resources. However, certain factors like long lead time from research to commercialization, and the perception of consumers towards biotech products is restricting the growth of the biotechnology industry. Stem cell technology, cloning and nanotechnology are some of the rapidly emerging technologies in the biotechnology market today.
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