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Biotechnology Market

Biotechnology Market

Biotechnology Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:


Base Year:



May - 2023



Report Code:


Segments Covered
  • By Application By Application Bio-Pharmacy, Bio-Industries, Bio-Services, Bio-Agriculture, Bio-Informatics
  • By Technology By Technology Fermentation, Tissue Engineering & Regeneration, Polymerase Chain Reaction (PCR) Technology, Nanobiotechnology, Chromatography, Deoxyribonucleic Acid (DNA) Sequencing, Cell Based Assay, DNA Sequencing, Other Technologies
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 1,094.6 Billion
Revenue 2030Revenue 2030: USD 2772.7 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 14.2%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Biotechnology Market Share

The global Biotechnology Market was valued at USD 1,094.6 Billion in 2022 and is projected to reach a value of USD 2772.7 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 14.2% between 2023 and 2030.

Premium Insights

Biotechnology is the technology that utilizes biological systems, living organisms, or portions to create or develop various products. Brewing and baking bread are processes that fall under the definition of Biotechnology (The use of yeast to produce the desired product; yeast is a biological organism). Government initiatives aimed at the modernization of regulatory framework, advancements in approval processes and reimbursement policies, and standardization of clinical studies are driving the market. The expanding influence of personalized medicine and the growing number of orphan drug formulations are creating new opportunities for Biotechnology applications, spurring the emergence of innovative Biotechnology companies, and boosting market revenue.

Biotechnology Market Size, 2022 To 2030 (USD Billion)

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The COVID-19 pandemic has positively affected the global market by spurring an increase in opportunities and advancements for drug development and manufacturing of disease-specific vaccines. In 2022, more than 11 billion doses of the COVID-19 vaccine were produced, culminating in the vaccination of approximately half of the world's population within a year. Furthermore, the success of mRNA vaccines and accelerated approval processes have led to a surge in vaccine-related revenues, as evidenced by Moderna, Pfizer/BioNTech, and Johnson & Johnson vaccines collectively generating approximately USD 31 billion in 2021.

Increasing demand for Biotechnology instruments for agricultural applications, such as micropropagation, molecular breeding, tissue culturing, conventional plant breeding, and developing genetically modified crops, among others, has also contributed to the expansion of the market. Furthermore, genetically modified crops and herbicide-tolerant and insect-resistant seedlings are gaining popularity and contributing to market expansion. Increasing adoption of tissue culture technology for the production of novel rice variants and disease- and pest-free banana varieties in South Asia and Africa, as well as the use of the technology for cloning disease-free and nutrient-rich plant varieties, have propelled agricultural applications for Biotechnology.

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The market is driven by a robust clinical trial pipeline and available funding opportunities in tissue engineering and regeneration technologies. Major corporations are researching and developing pipeline products for diabetes and neurological disorders, such as Parkinson's and Alzheimer's, as well as various malignancies and cardiovascular diseases. According to, there were 126 agents in clinical trials for treating Alzheimer's disease as of January 2021 and 28 treatments in phase III trials. The extensive use of fermentation technology in the life sciences and healthcare industries has expanded the market. Several modifications and advancements in conventional bioreactors, such as the introduction of simplified bioreactors and vortex bioreactors, have resulted in the development of fermentation technology and the spread of its use.

Economic Insights

Over the study horizon, the Russia-Ukraine conflict is expected to escalate, hurting economic growth and development. Russia's invasion of Ukraine caused massive shocks that will hinder global economic growth. Despite officials' best attempts to overcome their differences over growing prices, this economic trend is anticipated to stall by 2023. Russia and Ukraine's escalating conflict threatens the global economy. The Russian invasion has sent global shockwaves, threatening economic growth and progress. This crisis might slow progress toward a $100 trillion economy by 2022. This economic trend is in jeopardy despite their efforts to reconcile.

Top Market Trends

  1. Rising Application of Vortex Bioreactors: Vortex bioreactors have been modified to improve the operational viability of effluent treatment. Shortly, these modifications and enhancements to fermentation technology are anticipated to stimulate market expansion. Chronic viral infections, such as HIV, hepatitis B, and SARS-CoV-2, are being investigated as potential candidates for CAR T and TCR T-cell therapies. For instance, researchers at the Duke-NUS Medical School are evaluating the effectiveness of T-cell therapy in combating the COVID-19 infection. Scientists have demonstrated that TCR-redirected T cells share a functional profile with SARS-specific CD8 memory T cells isolated from cured patients. These investigations will stimulate future research opportunities and propel the market. In recent years, biotechnological techniques such as stem cell technology, DNA fingerprinting, and genetic engineering have gained significant traction.
  2. Rising Prevalence of Targeted Disorders: Due to the emergence of the Biotechnology industry in developing nations such as China, Japan, and India, government initiatives are driving the market. The government activities aim to simplify the medication regulatory pathway, standardize research, enhance reimbursement procedures, and accelerate the product clearance process, all of which will provide lucrative growth potential for the industry. In addition, agricultural input companies are focusing on refining existing technologies, such as developing new stacked features in crops and new germplasm via breeding innovations and gene sequencing. The principal market participants focus on introducing agricultural innovations to increase production through long-term solutions. The increasing prevalence of target diseases and genetic disorders, as well as continuous technological advances in Polymerase Chain Reaction (PCR) technologies, the development of miniaturized portable instruments, and the incorporation of robotics, as well as greater expenditures, funds, and grants for research activities, are driving the growth of the biological materials market over the forecast period.
  3. Rising Frequency of Infectious & Chronic Disorders: In the last decade, the use of genomic analytic techniques such as microbial identification and detection of genetic alterations in the diagnosis of major infectious diseases such as HIV, malaria, and tuberculosis, as well as genetic abnormalities, has grown significantly. The increase in the global prevalence of target diseases, in conjunction with the demonstrated utility of Polymerase Chain Reaction (PCR) analysis in diagnosing and estimating disease-causing bacteria, will drive the use of clinical diagnostic tests and, in turn, the expansion of the Biotechnology market. Rising incidences of infectious and chronic diseases and increased research and development expenditures to develop innovative genomic techniques such as cell-based assay and polymerase chain reaction (PCR) are likely to spur substantial growth in emerging nations. In developing regions, developing the Biotechnology market will be aided by an increase in healthcare expenditures, the expansion of healthcare infrastructure, and a decrease in the cost of disease diagnosis procedures.

Market Segmentation

The global Biotechnology market can be categorized as Application, Technology, and Region. Based on Application, the market can be categorized into Bio-Pharmacy, Bio-Industries, Bio-Services, Bio-Agriculture, And Bio-Informatics. Additionally, based on Technology, the market can be further segmented into Fermentation, Tissue Engineering & Regeneration, Polymerase Chain Reaction (PCR) Technology, NanoBiotechnology, Chromatography, Deoxyribonucleic Acid (DNA) Sequencing, Cell-Based Assay, DNA Sequencing, and Other Technologies. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Application

Bio-Pharmacy to Account for Largest Revenue Share Due to Rising Disease Prevalence

During the forecast period, Bio Pharmacy will dominate the Biotechnology market in terms of application. Increasing disease prevalence is primarily responsible for the segment's growth. Thus, the increasing demand for medicines and drugs is driving the expansion of the bio-pharmacy market segment. On the other hand, bio-informatics is anticipated to expand at a rapid rate during the period of forecast. The increasing demand for nucleic acid and protein sequencing, the increasing initiatives of private and government organizations, the growth of proteomics and genomics, and the increase in molecular biology and drug discovery research are all growth factors for the bio-informatics segment. As a result of the factors mentioned above, the bio-informatics market is anticipated to expand significantly during the forecast period.

Based on Technology

DNA Sequencing Techniques to Gather Largest Revenue Due to Rising Approvals of Nanomedicine

Due to declining sequencing costs and the rising adoption of advanced DNA sequencing techniques, DNA sequencing technology dominated the market in 2022 and generated the largest revenue share. Government funding for genetic research has facilitated increased sequencing applications to understand the disease better. For instance, in May 2021, the University of Pittsburgh Graduate School of Public Health and Washington University School of Medicine in St. Louis were awarded a USD 10.7 million NIH grant to investigate the genetic basis of Alzheimer's disease. Due to increased nanomedicine approvals and the advent of advanced technology, the nanoBiotechnology segment is expected to grow at the highest CAGR between 2022 and 2030. For instance, applications of theranostics nanoparticles have acquired momentum to simultaneously facilitate prompt diagnosis and individualization of treatment options for multiple diseases. Nanoparticles' low toxicity, smaller size, and chemical plasticity have proven advantageous in circumventing the limitations associated with conventional generic drug administration routes.

Based on Region

North America to Occupy Largest Market Share Owing to Rising Prevalence of Target Population

In 2022, North America accounted for the greatest share. The regional market is expanding for various reasons, including key participants, extensive R&D efforts, and high healthcare expenditures. The region's high prevalence of genomics, proteomics, and cell biology-based platforms is accelerating the adoption of life sciences instruments. In addition, the increase in the prevalence of chronic diseases and the rising adoption of personalized medicine applications for treating life-threatening disorders are anticipated to impact regional market growth positively.

From 2022 to 2030, Asia-Pacific will have the highest growth rate. The regional market's growth can be attributed to increasing investments and improvements in healthcare infrastructure, favorable government initiatives, and expansion strategies employed by leading market participants. In February 2022, Moderna Inc. announced plans to expand its commercial network in Asia by establishing four new subsidiaries in Malaysia, Singapore, Hong Kong, and Taiwan. Moreover, biopharmaceutical collaborations, such as Kiniksa Pharmaceuticals and Huadong Medicine's strategic collaboration for developing and commercializing Kiniksa's ARCALYST and mavrilimumab in the Asia-Pacific region, are anticipated to propel market growth.

Competitive Landscape

Biotechnology products have risen to the forefront of the COVID-19 pandemic response strategy. A robust pipeline of companies in this industry has enabled them to maintain the dynamic market competition in 2021. These actors' geographic expansion, strategic partnerships and collaborations, and mergers and acquisitions drive market growth. In November 2021, Novo Nordisk acquired Dicerna, a company specializing in RNA interference technology, for USD 3.3 billion, while in August 2021, Sanofi acquired Translate Bio and its mRNA platform for USD 3.2 billion.

The key players in the global Biotechnology market include - Lonza (Switzerland), AstraZeneca (UK), Pfizer Inc. (U.S.), Gilead Sciences Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Biogen (U.S.), CELGENE Corp. (U.S.), Sanofi (Paris), Abbott (U.S.), Novartis AG (Germany) among others.

Recent Market Developments

  • May 2020: Gilead Sciences has acquired Tizona Therapeutics, a Biotechnology company specializing in developing immunotherapies for cancer. It is anticipated that the acquisition will strengthen Gilead's oncology pipeline.
  • May 2020: Moderna announced the launch of a new vaccine to prevent cytomegalovirus (CMV) infection. The vaccine is based on Moderna's mRNA technology and is currently in phase 2 clinical trials.
  • March 2020: Roche has acquired Inflazome, a Biotechnology company that develops small molecule pharmaceuticals to treat inflammatory diseases. The acquisition is anticipated to strengthen Roche's position in the immunology market.

Segmentation of the Global Biotechnology Market

Parameter Details
Segments Covered

By Application

  • Bio-Pharmacy
  • Bio-Industries
  • Bio-Services
  • Bio-Agriculture
  • Bio-Informatics

By Technology

  • Fermentation
  • Tissue Engineering & Regeneration
  • Polymerase Chain Reaction (PCR) Technology
  • Nanobiotechnology
  • Chromatography
  • Deoxyribonucleic Acid (DNA) Sequencing
  • Cell Based Assay
  • DNA Sequencing
  • Other Technologies

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Lonza (Switzerland)
  • AstraZeneca (UK)
  • Pfizer Inc. (U.S.)
  • Gilead Sciences Inc. (U.S.)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • Biogen (U.S.)
  • CELGENE Corp. (U.S.)
  • Sanofi (Paris)
  • Abbott (U.S.)
  • Novartis AG (Germany)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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Frequently Asked Question
  • The global Biotechnology valued at USD 1,094.6 Billion in 2022 and is expected to reach USD 2772.7 Billion in 2030 growing at a CAGR of 14.2%.

  • The prominent players in the market are Lonza (Switzerland), AstraZeneca (UK), Pfizer Inc. (U.S.), Gilead Sciences Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Biogen (U.S.), CELGENE Corp. (U.S.), Sanofi (Paris), Abbott (U.S.), Novartis AG (Germany).

  • The market is project to grow at a CAGR of 14.2% between 2023 and 2030.

  • The driving factors of the Biotechnology include

    • Presence of favorable government initiatives

  • North America was the leading regional segment of the Biotechnology in 2022.