Funding and research key to biotech’s projected growth in coming years
News Type: Marketing News
Grand View Research reports that the biotechnology market could grow by $727.1 billion by 2025. This projected market growth is attributed to various innovations that aim to revolutionize various sectors including bioethanol and waste-to-energy production. The sector is looking more lucrative in terms of profit as the years go by.
According to Zacks, although several biotech companies suffered from plummeting shares last year, the industry as a whole is still gearing itself towards growth. It adds that the momentary decline is caused by investors who spun out of biotech stocks and into tech stocks because they think it was a right thing to do, with key players like blockchain showcasing growth as well.
Even biotech startups are already contributing to the sector’s growth and individually, these companies are bracing themselves for a profitable run. According to Forbes, biotech startups have managed to raise $758 million in funds through investors. The total funds raised this year has already surpassed the entire amount raised in 2018.
The company that raised the most is Viela Bio with $250 million. The company focuses its work on creating new ways to cure severe inflammation and autoimmune diseases. Many investors are interested in what Viela Bio could offer in terms of new advancements in the sector.
2018 and beyond will be a good year for biotech companies as they are about to get more funding for research and development through tax reforms, adds the report. The US government is now looking to fund more biotech leaders as they help promote growth not only in eco-friendly solutions but also to the market they cater to.
In the last quarter of 2017, NGTNews reports that Pennsylvania Gov. Tom Wolf has given $1.1 million in funds to help support projects geared towards producing alt-fuel. This is a primary example of the government looking to fund eco-friendly projects.
These companies and projects offer a lot of things to the world; one of which is progress. This progressive growth by biotech companies is a guarantee that they’ll be worth more than what they are today.
For instance, Greenbelt Resources Corp. (OTCMKTS:GRCO); a company that’s already made a huge contribution to bioethanol production, is still well on its way into helping out the sector with its innovations. The company recently announced that it has kickstarted the “California BioEthanol Project” which is set to boost the production of bioethanol annually. The three-phase project is just in the early stages. But within weeks, through the work of phase 1 on the existing system, the company can produce 1.37 million pounds of protein concentrates and 75,000 gallons of bioethanol per year (gpy). By completion of phase 3, local production expansion would be to 200 gpy.
Essentially, the California BioEthanol Project is an expanded version of the company’s patented ECOsystem model. The ECOsytem is used to create bioproducts from unwanted food waste stemming from breweries, wineries, and farms. The effectiveness of the technology has been proven by a few businesses in California as the bioethanol produced from their specific waste can be sold for profit.
What truly makes these biotech companies profitable is the fact that they are able to provide a steady stream of income for their clients as the sources they use are sustainable.
Bio Source Consulting adds that what the biotech industry contributes is priceless. The products and services coming out of the sector are significant in the growth and development of the world; it’s mainly the reason why the industry will continue to become a powerhouse in terms of profitability and one of those at the forefront is Greenbelt Resources.
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