The global market for Biotechnology was estimated at US$621.0 Billion in 2023 and is projected to reach US$1.1 Trillion by 2030, growing at a CAGR of 8.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
In agriculture, biotechnology has led to the development of genetically modified crops that offer higher yields, pest resistance, and improved nutritional content, helping to address global food security challenges. The role of biotechnology extends to industrial applications, where bio-based products and processes are replacing traditional chemical-based methods, fostering more sustainable manufacturing practices.
Synthetic biology, which involves designing new biological components or systems, is driving innovation in fields like bioengineering, where microbes are engineered to produce everything from pharmaceuticals to bio-based plastics. Meanwhile, biomanufacturing techniques, such as continuous manufacturing and the use of single-use systems, are enhancing the scalability and efficiency of producing biologic drugs and other biotech products.
Global Biotechnology Market - Key Trends & Drivers Summarized
How Is Biotechnology Revolutionizing Medicine and Agriculture?
Biotechnology is fundamentally transforming the fields of medicine, agriculture, and industrial processes by harnessing biological systems to develop innovative products and solutions. In medicine, biotechnology has enabled the development of life-saving therapies such as gene editing, monoclonal antibodies, and vaccines. It is also pivotal in advancing personalized medicine, where treatments are tailored to an individual's genetic makeup.In agriculture, biotechnology has led to the development of genetically modified crops that offer higher yields, pest resistance, and improved nutritional content, helping to address global food security challenges. The role of biotechnology extends to industrial applications, where bio-based products and processes are replacing traditional chemical-based methods, fostering more sustainable manufacturing practices.
What Technological Advancements Are Shaping the Future of Biotechnology?
Technological advancements such as CRISPR gene-editing, synthetic biology, and biomanufacturing are at the forefront of shaping the future of biotechnology. CRISPR, in particular, has revolutionized genetic research by enabling precise modifications to DNA, opening new possibilities in curing genetic diseases, improving crop traits, and creating more efficient biofuels.Synthetic biology, which involves designing new biological components or systems, is driving innovation in fields like bioengineering, where microbes are engineered to produce everything from pharmaceuticals to bio-based plastics. Meanwhile, biomanufacturing techniques, such as continuous manufacturing and the use of single-use systems, are enhancing the scalability and efficiency of producing biologic drugs and other biotech products.
What Sectors Are Driving Biotechnology Growth?
The biotechnology market spans several key sectors, including healthcare, agriculture, and industrial biotechnology. In healthcare, the demand for biologic drugs, gene therapies, and personalized medicine is driving significant investment in biotech research and development. In agriculture, the adoption of genetically modified organisms (GMOs) and bio-based fertilizers and pesticides is helping to meet the global demand for sustainable food production. Industrial biotechnology is also witnessing rapid growth, particularly in the production of biofuels, biodegradable plastics, and enzymes used in manufacturing processes. The environmental benefits of biotech solutions, especially in reducing carbon footprints and minimizing chemical waste, are further expanding its applications across industries.What Factors Are Driving Growth?
The growth in the biotechnology market is driven by several factors, including advancements in genetic engineering technologies, increasing investments in healthcare R&D, and the growing need for sustainable agricultural solutions. The rise of personalized medicine and the demand for biologic drugs are key drivers in the healthcare sector, while the need for more resilient and sustainable crops is boosting the agricultural biotech market. Additionally, the industrial sector is experiencing growth in bio-based production methods as companies aim to reduce environmental impact. The regulatory support for biotech innovations and the increasing public acceptance of GMOs and biologic therapies are further contributing to market expansion.Key Insights:
- Market Growth: Understand the significant growth trajectory of the DNA Sequencing Market segment, which is expected to reach US$33.5 Billion by 2030 with a CAGR of a 8.6%. The Fermentation Market segment is also set to grow at 8.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $161.9 Billion in 2023, and China, forecasted to grow at an impressive 11.7% CAGR to reach $252.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Biotechnology Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Biotechnology Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Biotechnology Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Biotechnology Market such as Agilent Technologies, Inc., BD Biosciences, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche AG and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 93 companies featured in this Global Biotechnology market report include:
- Agilent Technologies, Inc.
- BD Biosciences
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Illumina, Inc.
- Merck KgaA
- PerkinElmer, Inc.
- QIAGEN GmbH
- Thermo Fisher Scientific, Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
Some of the 93 companies featured in this Global Biotechnology market report include:- Agilent Technologies, Inc.
- BD Biosciences
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Illumina, Inc.
- Merck KgaA
- PerkinElmer, Inc.
- QIAGEN GmbH
- Thermo Fisher Scientific, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 222 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 621 Billion |
| Forecasted Market Value ( USD | $ 1100 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
