Biotechnology Market Report Segments the Industry Into by Technology (DNA Sequencing, Nanobiotechnology and More), Application (Health & Red Biotechnology, Food and Agriculture and More), End User (Biopharma & Biotechnology Companies, Cmos & CROs and More), Product Type (Biopharmaceuticals, Bioprocess Equipment & Consumables and More), and Geography.

The explosive growth in biotechnology in recent years can't be understated. What's fueling this rapid growth varies, as biotech's applications span healthcare, agriculture and manufacturing. COVID-19 brought more attention to biotechnology, as biotech was central to vaccine development and a reopening economy. Biotech's potential to develop vaccines shifted the industry's trajectory, with investment reaching unprecedented levels and over 150 biotech producers going public in 2021. However, biotechnology producers faced a noticeable slowdown in a postpandemic environment. Investor uncertainty grew as capital became harder to secure and high interest rates persisted. Major pharmaceutical firms actively pursued mergers and acquisitions to replenish pipelines as blockbuster patents expired, but the overall pace of deals slowed because of greater scrutiny and lower valuations. In 2025, investors remain cautious as interest rates remain high, critical funding sources are at risk and an evolving policy environment triggers uncertainty. Despite recent challenges, revenue has been expanding at a CAGR of 2.4% to an estimated $258.4 billion over the past five years, with expected growth of 6.3% in 2025. Research and development (R&D) is crucial for biotechnology companies to successfully discover, develop and commercialize products. Early-stage biotech producers can't cover the skyrocketing R&D costs alone, relying on external funding for growth instead. While biotech evaded the economic downturn during the pandemic as investors poured capital into the field, biotechnology companies have navigated a challenging financial climate as inflation and high interest rates made funding difficult. In 2025, regulatory and funding shifts have added a new challenge. FDA changes under the Trump administration have hurt investor confidence and stretched development timelines, particularly for smaller firms. At the same time, deep NIH funding cuts and stricter grant rules threaten critical early-stage research. As these pressures mount, many small companies delay projects, downsize or exit, while larger companies gain market share. This environment risks concentrating innovation, making it more challenging for new entrants to compete. Where the biotechnology industry is headed will depend on several factors. A $2.0 billion investment in domestic biotechnology from 2022 will support biotech innovation and strengthen workforce development moving forward. A growing pipeline of drug candidates, broader use of biofuels and ongoing demand for health solutions will help the industry's growth. Investor confidence may recover if the regulatory environment stabilizes or novel therapies reach the market. Continued pharmaceutical M&A activity can give promising biotech ventures the necessary resources to grow. However, volatile funding conditions, regulatory unpredictability and reduced public support will keep testing the industry. Companies that secure multiple funding streams, keep flexible pipelines and form strong partnerships will best position themselves to take advantage of biotech's potential. In all, revenue will expand at a CAGR of 2.3% to an expected $290.2 billion over the next five years.

The global biotechnology market from USD 1.64 trillion in 2024 to reach unprecedented USD 5.85 trillion by 2034, powered by a revolutionary CAGR of 13.6% with cutting-edge therapeutic solutions.

In 2023, the value of exports from South Korea's biotechnology industry amounted to around **** trillion South Korean won. This represents a decrease from the previous year. Exports within this industry have generally been increasing in recent years.

Biotechnology Market size is growing with a CAGR of 12.3% in the prediction period and it crosses USD 2,330.47 Bn by 2032, from USD 1,034.63 Bn in 2025.

The size of the Global Biotechnology Industry market was valued at USD 516.19 billion in 2023 and is projected to reach USD 1,426.55 billion by 2032, with an expected CAGR of 7.40% during the forecast period. Recent developments include: In June 2022, Agilent Technologies Inc. reported that previously CE-IVD marked instruments, kits, and reagents were released as IVDR Class A on May 26, 2022, in compliance with the new EU IVDR regulation., In April 2022, CN Bio, an organ-on-a-chip (OOC) company, launched its PhysioMimix 'in-a-box' reagent kit for non-alcoholic steatohepatitis (NASH)-a disease that, to date, has no regulatory-approved therapeutics for treatment because of the inability to predict human responses to this complex disease via traditional in-vivo animal studies.. Key drivers for this market are: High R&D Expenditure by Biotechnology Companies coupled with the Rise in Number of Biotechnology Firms, Increasing Interest in Stem Cell Research; Growing Burden of Cancer, Genetic Disorders, and Chronic Infectious Diseases. Potential restraints include: Stringent Government Regulations for Approval of Reagents, High Cost of Reagents. Notable trends are: The Polymerase Chain Reaction (PCR) Segment is Expected to Witness Growth Over the Forecast Period.

Market Size statistics on the Global Biotechnology industry in Global

Introduction

Biotech Statistics: The biotechnology sector has experienced significant growth, underscored by substantial market valuations and investment activities. In 2023, the global biotechnology market was valued at approximately USD 1.55 trillion and is projected to expand at a compound annual growth rate (CAGR) of 13.96% from 2024 to 2030. This growth trajectory suggests a market size of around USD 3.88 trillion by 2030.

The United States biotechnology market, specifically, was valued at USD 552.43 billion in 2023 and is anticipated to reach approximately USD 1.79 trillion by 2033, reflecting a CAGR of 12.45% from 2024 to 2033. In 2023, the combined biotechnology industries of the U.S. and Europe secured approximately USD 81.1 billion in capital, encompassing venture capital, initial public offerings (IPOs), follow-on offerings, and debt financing. This robust investment landscape has been instrumental in driving innovation and development within the sector.

These statistics highlight the biotechnology industry's dynamic expansion and its pivotal role in advancing medical and technological innovations globally.

The Animal Biotechnology Market Report is Segmented by Product Type (Biologics, Diagnostics, and More), Application (Disease Diagnosis and More), Animal Type (Livestock Animals [Cattle and More] and Companion Animals [Dogs and More]), End-User (Laboratories and More), and Geography (North America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

In 2024, the biotech industry in the U.S. and Europe combined raised some 73 billion U.S. dollars in capital, including risk capital, IPOs, follow-on, and debt. This statistic depicts the total amount of capital raised in the biotechnology industry in the United States and in Europe from 2015 to 2024

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• The global biopharmaceuticals market size is expected to be worth around USD 566 billion by 2032 from USD 263 billion in 2022, growing at a CAGR of 8.2% during the forecast period from 2022 to 2032.
• The overall success rate for phase I trials is around 16%, while for phase II trials it is around 10%. Phase III trials, which involve larger patient populations, have a success rate of around 25%.
• The average cost of bringing a new drug to market is projected to be around USD 2.6 billion.
• The National Genome Institute estimates that the cost of sequencing a human genome has fallen from around USD 100 million in 2001 to less than USD 1,000 in recent years.
• In 2020, WIPO received over 23,500 biotechnology-related patent applications, demonstrating the growing innovation and research in the field.
• The US biotechnology industry employed over 2.1 million people in 2020, including direct and indirect jobs.

(Source: Journal of Clinical Oncology, Journal of Health Economics, World Intellectual Property Organization, Biotechnology Innovation Organization)

The global biotechnology market size is valued at 1.57 trillion in 2024 and is poised to reach USD 8.01 trillion by 2035, representing a CAGR of 15.98% during the forecast period 2024-2035.

Over the five years through 2025-26, biotechnology revenue is forecast to climb at a compound annual rate of 6.3% to £25.2 billion. Biotechnology can make agriculture more efficient and sustainable, broadening its appeal and economic value. It’s fast becoming a prominent part of the UK life science sector, alongside pharmaceutical and medical technology. The convergence of these three technologies makes it increasingly difficult to identify the boundaries between them. Even so, high demand for biotechnology products that help solve medical, agricultural and industrial issues has contributed to strong revenue growth. Biotech companies rely heavily on funding from investors and significant government assistance. After COVID-19 hit, biotech companies involved in human health products saw a surge in private and government funding. Ongoing government initiatives like the Strategy for UK Life Sciences and significant allocations to projects like the UK Biobank enabled continued R&D and technological adoption. Biotech businesses have benefitted from government funding and strategic initiatives. Innovations in genetic mapping and CRISPR technology have propelled companies like Oxford Nanopore Technologies to the forefront, showcasing advanced applications in genomic sequencing and cell therapy. Revenue is set to swell by 6.3% in 2025-26, while profit is also edging upwards as biotech investment rises and the market matures. The industry is poised for growth driven by government investments and technological advancements. Outlined in December 2023, the UK government’s £2 billion investment plan promises to fuel R&D and infrastructure development over the next decade. Revenue is anticipated to climb at a compound annual rate of 7.9% over the five years through 2030-31 to £36.8 billion. The ageing UK population, resource scarcity and the need for more efficient and environmentally friendly production in agriculture, energy and industrial sectors will propel demand. The government will continue to support biotech companies by providing higher funding as it prioritises science and research to drive economic growth. This hike in both demand and funding will attract more start-ups to the market, but there’s also likely to be some consolidation; large pharmaceutical companies will target small biotechnology businesses for expansion. Profit will also continue to expand as mature companies generate healthier royalties. Although foreign competition from countries like China and India will likely intensify, the UK’s world-class research infrastructure and strong governmental support for biotech businesses will foster innovation and growth.

This statistic shows public expenditure on biotechnology research and development in selected European countries in 2021 (or 2023, if available year). Spain had the highest public expenditure on biotechnology research and development, amounting to some 2.3 billion U.S. dollars.

The Marine Biotechnology Market report segments the industry into By Source (Corals and Sponges, Algae, Marine Viruses, Marine Fungi, Other Sources), By End User (Medical and Pharmaceutical, Food Industry, Cosmetics Industry, Chemical Industry, Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). Get five years of historical data and five-year forecasts.

The global biotechnology market size is projected to grow from USD 1,650 billion in 2025 to USD 5,220 billion by 2034, exhibiting a CAGR of 13.67%.
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Biotech Market Size 2025-2029

The biotech market size is forecast to increase by USD 805.6 billion at a CAGR of 12.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing innovation and investment from market companies. These companies are expanding their research and development efforts to bring new products and technologies to market, addressing unmet medical needs and advancing scientific discoveries. However, this growth comes with challenges, primarily regulatory compliance. Stringent regulations governing the biotech industry ensure the safety and efficacy of products, but they also add costs and complexity to the development process. Biologics, comprised of monoclonal antibodies, vaccines, recombinant proteins, and cell and gene therapies, are derived from living organisms and cater to the treatment of numerous diseases, such as cancer, autoimmune disorders, and genetic conditions. Navigating these regulations requires the regulatory landscape and strategic planning.
For companies seeking to capitalize on market opportunities and navigate challenges effectively, it is essential to stay informed of the latest regulatory trends and best practices. Additionally, collaboration with regulatory agencies and industry experts can help streamline the development process and bring products to market more efficiently. Overall, the market presents significant opportunities for growth, but companies must be prepared to navigate regulatory complexities and invest in innovation to stay competitive.

What will be the Size of the Biotech Market during the forecast period?

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The market encompasses a dynamic and innovative industry focused on advancing biological systems through engineering, gene therapies, and tissue culturing. This sector is driving progress in various areas, including medicine, environmental sustainability, and agriculture. Notable applications include the development of treatments for conditions such as HIV, diabetes, obesity, neurological disorders, and transfyretin amyloidosis. Significant investments continue to fuel market growth, with innovative companies spearheading clinical success in areas like personalized medicine and regeneration technologies. Biotech is also making strides in the production of genetically modified crops, leading to improved plant varieties and increased agricultural efficiency. Government support and approval processes are crucial components of the market's growth trajectory.
Technological advancements, such as molecular breeding and cloning, are revolutionizing the way we approach challenges in healthcare and agriculture. The biotech industry's positive outcomes extend beyond the conventional plan, with potential solutions for societal issues like malaria and sedentary lifestyle-related diseases. Market revenue is expected to grow substantially as biotech continues to deliver breakthroughs in medicine, bio-pharmaceuticals, and bio-agriculture. The future of this sector is bright, as it continues to push the boundaries of science and technology to address some of the world's most pressing challenges.

How is this Biotech Industry segmented?

The biotech industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Biologics
  Therapeutics
  Diagnostics
  Industrial biotechnology
  Others


Type

  Red biotechnology
  White biotechnology
  Green biotechnology
  Grey biotechnology
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Sweden
    Switzerland
    UK


  Asia
  Rest of World (ROW)

By Product Insights

The biologics segment is estimated to witness significant growth during the forecast period. The market encompasses a range of product categories, with biologics emerging as a key and expanding segment. In August 2023, Novartis finalized its acquisition of Chinook Therapeutics, Inc., a Seattle, WA-based biopharmaceutical company specializing in precision medicines for kidney diseases. Valued at up to USD 3.5 billion, this acquisition underscores the strategic significance of biologics within the global biotech sector. Biotechnology advancements in areas like gene editing, proteomics, and genomics continue to fuel innovation in disease treatment and prevention.

Biotech startups and established biopharma companies alike invest heavily in research and development, driving medical breakthroughs and healthcare solutions. The biotech industry's focus on patient care, disease management, and pharmaceutical innovation is transforming healthcare trends and improving health outcomes. Biotechnology education, policy, and regulation play crucial roles in fostering a sustainable and ethical industry.

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Discover the booming global biotechnology market! This comprehensive analysis reveals a 7.40% CAGR, key drivers, emerging trends, and leading companies shaping the future of healthcare. Explore market segmentation by technology & application and regional breakdowns. Learn how gene editing, personalized medicine, and AI are revolutionizing the industry. Recent developments include: In June 2022, Agilent Technologies Inc. reported that previously CE-IVD marked instruments, kits, and reagents were released as IVDR Class A on May 26, 2022, in compliance with the new EU IVDR regulation., In April 2022, CN Bio, an organ-on-a-chip (OOC) company, launched its PhysioMimix 'in-a-box' reagent kit for non-alcoholic steatohepatitis (NASH)-a disease that, to date, has no regulatory-approved therapeutics for treatment because of the inability to predict human responses to this complex disease via traditional in-vivo animal studies.. Key drivers for this market are: High R&D Expenditure by Biotechnology Companies coupled with the Rise in Number of Biotechnology Firms, Increasing Interest in Stem Cell Research; Growing Burden of Cancer, Genetic Disorders, and Chronic Infectious Diseases. Potential restraints include: High R&D Expenditure by Biotechnology Companies coupled with the Rise in Number of Biotechnology Firms, Increasing Interest in Stem Cell Research; Growing Burden of Cancer, Genetic Disorders, and Chronic Infectious Diseases. Notable trends are: The Polymerase Chain Reaction (PCR) Segment is Expected to Witness Growth Over the Forecast Period.

As of 2021, the United States' share of the total global biotech value stood at nearly 59 percent, while China had around 11 percent. This statistic illustrates the share of the total biotech company value worldwide as of 2021, by country.

The global biotechnology market size is estimated to rise from USD 1.95 trillion in 2025 to USD 7.17 trillion by 2035, advancing at a CAGR greater than 13.9%. Organizations driving sector growth include Amgen, Gilead Sciences, Novo Nordisk, Roche, Merck, influencing market dynamics worldwide.