A creative science wherein organisms and living systems are used to create valuable and new commodities, varying anywhere from commodities of healthcare to seeds is known as biotechnology. The biotechnology market is estimated to experience considerable expansion over the predicted phase, from 2012 to 2017.
The development of this market is due to regulatory backing provided to different firms working in biotechnology. Moreover, growth in demand for food in emerging nations has driven the worldwide biotechnology market. Bioseeds are likely to expand fast in contrast to traditional seeds in the estimated phase of 2012 to 2017.
Applications wise, the market is fragmented into bioservices, biopharmacy, bioindustrial and bioagriculture.