Over the past years there have been major developments in the field of biotechnology. The time and cost of drug development has decreased considerably on account of continuous research & development in the pharmaceutical and biopharmaceuticals. Heavy investments made by private companies as well government policies/subsidies favoring drug development is anticipated to positively impact the healthcare industry. Biotechnology is a wide market which involves development of products in the field of agriculture, tissue regeneration, biomaterials, and biomarkers among others. Companies operating in the biotechnology market are engaged in several partnerships in order to drive collaborations to develop novel products & techniques. Biotechnology has applications in the healthcare, food & agriculture, industrial processing, bioinformatics, and environmental sector. Large demand is also observed in the development of personalized medicines and biosimilars.