Growing popularity of contract research outsourcing ( CRO ) services in an attempt to curb manufacturing and R & D costs are expected to drive bioservices demand , which is expected to be the fastest growing application market for biotechnology .
Further key findings from the study suggest : �
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North America was the largest regional market , accounting for over 40 % of global revenue in 2013 , with growth being driven by the presence of sophisticated healthcare infrastructure , high patient awareness levels and healthcare expenditure .
Asia Pacific is expected to register the fastest CAGR of 14.8 % during the forecast period owing to the presence of untapped opportunities in emerging markets such as India and China .
Tissue engineering and regeneration technology dominated the market in terms of revenue share in 2013 at 32.5 % on account of the rising demand for regenerative medicine .
� Key industry participants include Novo Nordisk , Amgen , Gilead Sciences , Celgene , Biogen Idic , Teva Pharmaceutical Industries , Merck KGaA , CSL , Regeneron , Alexion Pharmaceuticals , Shire PLC , Vertex Pharmaceuticals , BioMarin Pharmaceutical , Elan , Actelion , Onyx Pharmaceuticals , Dr . Reddy ' s Laboratories , Seattle Genetics , Alkermes , Ariad Pharmaceuticals , Cubist Pharmaceuticals , United Therapeutics , Ipsen Group and DiaSorin .
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For the purpose of this study , report has segmented the global biotechnology market on the basis of application and region :
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Biotechnology Application Outlook
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Medical Gases BioPharmacy
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