Trends of the German biotech market

Abstract

Over the past few years, biotechnology has become one of the most promising sectors of the economy. The biotech industry has been a vital instrument in developing and supplying COVID-19 vaccines in record time. The article discusses global trends in technology development in this area. The major players in the global biotechnology market have been identified, and the positions of Germany have been determined. The authors defined a crucial role of the biotech sector in German innovation and discuss the main trends in the growth of the German biotechnology market with a volume forecast of biotechnology output in Germany for 2020-2023.