Introduction
The global market for biotechnology represents a large and complex amalgamation of different products that touches many different industry segments. In the healthcare industry alone, biologics represent a greater than $125 billion global market, and biosimilars legislation in the US and EU has spawned new generic biologics markets that will continue to grow. In addition, the even larger and more rapidly growing market for personalized medicine is driving biotechnology-based diagnostic and health management tools. In the agricultural industries, the market for genetically modified seeds and crops that are pest and disease resistant continues to grow. In the energy industries, large rounds of funding continue to drive the development of biofuels, the quality and production of which is likely to be improved by biotechnological advances. Participants in all of these markets rely on positive innovations and intellectual property (IP) rights to maintain and grow their market shares.
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