Modern biotechnology is an important element of evolution since it plays a crucial role in prolonging human longevity and enhancing the quality of life. It does so by providing health-related products based on molecular biology rather than chemical substances and tackling environmental problems related to pollution, as well as advancing biological solutions for renewable energy.
As a science-driven sector, biotechnology has a solid foundation of scientific information, R&D institutions, and experts.
That’s why Expert Networks, in their role as specialized platforms for facilitating communication between various private (and public) stakeholders and expert communities, play a crucial role in achieving progress in this field.
But let’s dive deeper to find out more about the connection between biotechnology and Expert Networks.
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What is biotechnology? Biotech statistics
As an extension of science, in the most basic terms, biotechnology is an industry that relies on biology, the use of living organisms, cellular and biomolecular processes, to create goods and technologies that improve the quality of human life and our planet’s sustainability.
There are three key categories of biotechnology or biotech:
- Biomedical biotech focuses on disease prevention, treatment, or cures as well as the discovery of innovative therapies, and the development of ground-breaking medical technologies
- Agricultural biotech involves the development of innovations in farming such as applying genetic engineering to develop new crops
- Environmental biotech refers to the creation of more sustainable goods as well as various alternative energy sources.
Biotech 2022 stats, in short
In 2022, according to one of the major suppliers of strategic market insights, Precedence Research, the global biotechnology market was estimated to be US$1,224 billion and is expected to be worth around US$3,210 billion by 2030. At the same time, the bio-pharmacy segment is the number one application with a revenue share of 41.46%.
Key takeaways from the Precedence Research regarding biotechnology trends in 2022:
- North America was the biotech market leader with a revenue share of 37.76%.
- Europe had the second-largest biotech market share of over 28%.
- Asia Pacific was third in terms of biotech market share with nearly 24%.
- The bio-pharmacy segment came first with a revenue share of 41.46%, while the bio-industries application segment came second with 24.41%.
Technology-wise, the tissue engineering and regeneration sector has achieved a revenue share of 19.35%.
AI’s role in biotech
AI plays a part in the research of drugs, their effectiveness, safety and more. Drug manufacturing, the chemical examination of different compounds, RNA and DNA sequencing, and other biological operations all run faster and with fewer manual errors when supported by AI.
Biotechnology companies are now using AI/ML solutions to create autonomous robots that can carry out some agricultural jobs more quickly such as harvesting crops. The information collected by drones is processed and analyzed using computer vision and deep learning techniques which is helpful in the assessment of crop and soil quality.
In addition, machine learning helps to track and forecast numerous environmental changes, such as weather variations that affect crop productivity.
Molecular biology, genetics, and biochemistry are just a few of the many disciplines that make up the field of biotechnology.
Biotech experts are making extensive use of artificial intelligence (AI) and machine learning (ML) to address a range of issues related to pharmacology, and pharmacogenetics, and biotech companies are using AI/ML solutions to create autonomous robots that can carry out some agricultural jobs more quickly.
Expert Networks’ role in research and development within the biotechnology sector
What is the connection between Expert Networks and such a complex scientific-driven industry as biotechnology? Biotechnology is characterized by ongoing developments and innovations that increase the demand for key insider knowledge about changing markets and sectors, and the expert networking sector offers knowledge that goes beyond that which clients can glean through research.
This enables customers to obtain direct responses to the questions they face by greatly simplifying and speeding up the research and development process.
The biotech specialists that Expert Networks provide to their clients offer very focused and narrow knowledge and can even provide solutions for risk reduction. In the fast-moving biotechnology sector, these professionals have the ability to stimulate collaboration, speed up progress, and ensure compliance.
Access to niche knowledge
Genetics, molecular biology, pharmacology, and bioinformatics* are just a few of the many fields that make up the multifaceted discipline known as biotechnology. This is why getting in touch with subject-matter experts can be essential for accessing in-depth knowledge and exclusive information that can help companies make wise decisions.
* Bioinformatics is defined as the application of tools of computation and analysis to the capture and interpretation of biological data. It is an interdisciplinary field that harnesses computer science, mathematics, physics, and biology.
Cross-disciplinary cooperation
Expert Networks can be viewed as channels where the intersection of revolutionary findings, new trends, and innovative approaches can be seen and this is no surprise since they link experts from multiple fields, including geneticists, biochemists, computer scientists, legal specialists, etc.
In biotechnology, just like in any other field where innovations can broaden the limits of the possible, timely information sharing is essential to ensure that a company is aware of the most recent scientific advancements, legislative changes, and market trends.
Complying with regulations
Products made through biotechnology have to go through a maze of rules and regulations which can complicate and slow down their development. Therefore, talking to specialists vetted by Expert Networks can offer the benefit of in-depth knowledge of the regulatory environment.
Risk mitigation
By consulting the most suitable specialists provided by Expert Networks, organizations can acquire specialized insights, validate hypotheses, detect possible errors, improve decision-making, and optimize resource allocation.
RightAngle Global is the company that finds the most qualified experts who can provide specialized insights and advice, and offer solutions on a variety of aspects associated with biotechnology and other progressive industries. Contact RightAngle Global to obtain the highest standards of efficiency with vetted specialists contributing a wealth of experience and knowledge to benefit your organization.
Final word:
Undoubtedly, biotechnology has an enormous potential to drive innovation and progress for communities across the planet. Expert Networks such as RightAngle Global can help the industry evolve even further by facilitating the exchange of information between experts in the field, assisting companies in obtaining niche knowledge, and helping them mitigate the risks associated with biotech products.
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