Red Biotechnology Market Growth Accelerated by Expanded Application Areas

Red biotechnology refers to technology that involves biological and medical applications of biotechnology, including genetic engineering, gene therapy, immunotherapy, stem cell therapy and regenerative medicine. Red biotechnology products consist of tissue engineering and prosthetic implants, gene therapy, and therapeutic protein drugs and vaccines. These products help to diagnose, prevent and treat many diseases and enhance human health. The global Red Biotechnology Market is estimated to be valued at US$ 855.71 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding application areas of red biotechnology products is one of the major trends driving the growth of red biotechnology market. Red biotechnology finds increasing application in the development of diagnostic tools, therapeutic agents, and medical devices. With the advancements in genomics...