Austin, April 11, 2025 (GLOBE NEWSWIRE) -- Global Biotechnology Market Size & Growth Analysis:
According to a recent report by SNS Insider, the global Biotechnology Market was valued at USD 2100 billion in 2023 and is projected to reach USD 6430 billion by 2032, expanding at a compound annual growth rate (CAGR) of 13.29% during the forecast period of 2024 to 2032. Advances in genetic engineering technology, transgenic biology, and cell studies are transforming biotechnology applications. The growth in this demand for biopharmaceuticals, personalized medicine, and genetically engineered crops is driving market growth through various industries, positioning biotechnology as a central industry for scientific and economic development.
Market Overview
In the United States, biotechnology is most important to healthcare innovation, with the health segment contributing USD 928 billion to the market share in 2023. This is due to the expansive use of biotechnology in drug development, personalized medicine, and therapies. The industry continues to improve because of growing investment in biopharmaceutical research and government support for genetic research and development.
The wider biotechnology industry is gaining from advances in synthetic biology, AI-based drug discovery, and nanotechnology-based therapies. The coming together of artificial intelligence and big data analytics is also fueling progress in genetic studies and bioinformatics, opening the doors to more targeted and effective treatments in medical and agricultural use.
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Key Biotechnology Companies Profiled in the Report
- AstraZeneca
- Gilead Sciences, Inc.
- Bristol-Myers Squibb
- Sanofi
- Biogen
- Abbott Laboratories
- Pfizer, Inc.
- Amgen Inc.
- Novo Nordisk A/S
- Merck KGaA
- Johnson & Johnson Services, Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Lonza
Biotechnology Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 2100 billion |
| Market Size by 2032 | US$ 6430 billion |
| CAGR | CAGR of 13.29% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Technology
DNA sequencing in 2023 captured a large market share of USD 609 billion (29%). It is responsible for this leadership position because of its pivotal applications in genomics, personalized medicine, and targeted therapy. The rising need for whole-genome sequencing, combined with the reduction of sequencing prices, has broadened its application in research and clinical areas.
On the contrary, the nanobiotechnology segment is poised to grow the fastest in the forecasting period. Breakthroughs fueled by nanotechnology in drug delivery, regenerative medicine, and diagnostic equipment are fueling growth in nanobiotechnology. Targeted drug delivery, fewer side effects, and better bioavailability through nanobiotechnology are some of the drivers of its burgeoning growth.
By Application
The healthcare industry topped the market of biotechnology in 2023 with a market share of USD 840 billion (40%). The reason for this segment's top position is the rising demand for biologics, gene therapy, and regenerative medicine. The rapid progress in cell and gene therapy, along with the growth in biopharmaceutical manufacturing, has contributed significantly to consolidating the position of the healthcare segment in the biotechnology market.
The agriculture and food industry is anticipated to experience the quickest growth between 2024 and 2032. The increasing global demand for sustainable farming practices, genetically modified crops, and bio-based fertilizers is driving market growth. Biotechnology products in agriculture are enhancing crop yield, pest resistance, and food security, making them crucial in mitigating climate change and population growth issues.
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Biotechnology Market Segmentation
By Technology
- Nanobiotechnology
- Tissue Engineering & Regeneration
- DNA Sequencing
- Cell-based Assays
- Fermentation
- PCR Technology
- Chromatography
- Others
By Application
- Health
- Food & Agriculture
- Natural Resources & Environment
- Industrial Processing
- Bioinformatics
- Others
Regional Analysis
North America led the biotechnology market in 2023, contributing USD 903 billion (43%) to the world market. Leadership in the region is fueled by heavy investments in R&D, well-developed healthcare infrastructure, and positive government policies promoting biotech innovation. Having major biopharmaceutical players and constant progress in genomics and synthetic biology also further strengthen North America's leadership in the sector.
At the same time, the Asia-Pacific region is expected to record the highest growth over the forecast period. The rapid growth of biotech startups, growing government funding, and increased demand for healthcare and agricultural biotech solutions are driving market growth in this region. China, India, and Japan are all heavily investing in biotechnology to promote innovation and economic development.
Recent Developments in the Biotechnology Market
- August 2023: Verve Therapeutics initiated its first human clinical trial of a gene-editing therapy using CRISPR technology to deactivate the PCSK9 gene, which regulates cholesterol levels.
- July 2023: Moderna, in collaboration with Merck, announced the development of a personalized cancer vaccine, mRNA-4157/V940, which entered Phase 2 clinical trials. This vaccine trains the immune system to recognize specific cancer mutations.
- June 2023: Illumina launched a next-generation sequencing technology that offers unprecedented whole-genome sequencing accuracy, providing deeper genetic insights.
- October 2023: Thermo Fisher Scientific introduced the Orbitrap Astral mass spectrometer, a breakthrough in mass spectrometry aimed at accelerating biological discoveries.
- March 2025: AstraZeneca announced plans to acquire EsoBiotec for up to USD 1 billion to enhance its cell therapy capabilities in cancer and autoimmune diseases.
- February 2025: The UK government advanced new gene editing legislation to develop crops more resilient to pests and climate change, furthering its commitment to sustainable agriculture.
Statistical Insights and Trends Reporting
- The healthcare segment accounted for USD 840 billion, driven by biopharmaceuticals, gene therapy, and regenerative medicine.
- DNA sequencing technology held USD 609 billion (29%) of the biotechnology market, mainly due to its critical role in genomics and personalized medicine.
- The nanobiotechnology sector is projected to experience the highest growth, driven by advancements in nanomedicine and targeted drug delivery.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Biotechnology Incidence and Prevalence (2023)
5.2 Biotechnology Prescription Trends, (2023), by Region
5.3 Biotechnology Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Biotechnology Market by Technology
8. Biotechnology Market by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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