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The global market for agricultural biotechnology was $13.7 billion in 2011 and is estimated to grow to $14.4 billion in 2012, growing at a compound annual growth rate (CAGR) of 11.4%, to reach a forecast value of nearly $24.8 billion in 2017.
Transgenic seeds make up the bulk of the agricultural biotechnology ma8rket, with a global value of $13.5 billion in 2011. This market is expected to reach $14.1 billion in 2012 and is forecast to reach $20.4 billion by 2017, growing at a CAGR of 7.6%.
The synthetic biology-enabled products market was $192.7 million in 2011 and is expected to reach $199.8 million in 2012. This market is further projected to reach nearly $3.9 billion by 2017, a CAGR of 81.0% for a period of five years, i.e., 2012 to 2017.
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