Biotechnology

Global Biotechnology Market to Reach US$1.1 Trillion by 2030

The global market for Biotechnology estimated at US$673.2 Billion in the year 2024, is expected to reach US$1.1 Trillion by 2030, growing at a CAGR of 8.5% over the analysis period 2024-2030. DNA Sequencing Market, one of the segments analyzed in the report, is expected to record a 8.6% CAGR and reach US$33.5 Billion by the end of the analysis period. Growth in the Fermentation Market segment is estimated at 8.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$173.1 Billion While China is Forecast to Grow at 11.7% CAGR

The Biotechnology market in the U.S. is estimated at US$173.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$252.4 Billion by the year 2030 trailing a CAGR of 11.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.2% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.

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.

SCOPE OF STUDY:

The report analyzes the Biotechnology market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (BioIndustrial, Bioinformatics, BioAgriculture, Biopharmacy, Other Applications); Technology (DNA Sequencing Market, Fermentation Market, Cell Based Assay Market, Nanobiotechnology Market, Chromatography Market, PCR Technology Market, Tissue Engineering and Regeneration Market, Other Technologies)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 93 Featured) -

• 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.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.