The biotechnology market is expanding quickly as a result of the ongoing demand from a variety of industries, such as biofuels, healthcare, food and beverage, agriculture, pharmaceutical, fermentation, natural resources, and the environment. Biotechnology has several applications which has led to the development of many helpful products. Biotechnology is the use of biology in the production of new products, services, and organisms with the aim of improving human health and society.
Discover how we can add value to your business, request sample copy@ https://www.cervicornconsulting.com/sample/2310
Key Takeaways
· U.S. biotechnology market size could reach around USD 1,470.82 billion by 2033.
· Europe has garnered revenue share of 28.92% in 2024.
· Asia Pacific has reported revenue share of 23.62% in 2024.
· By technology, tissue engineering and regeneration has captured revenue share of 19.36% in 2024.
· By application, health segment has accounted revenue share of 51% in 2024.
Access the Table of Contents of the Report@ https://www.cervicornconsulting.com/toc/2310
Empower your decisions with in-depth analysis, buy this premium research report@ https://www.cervicornconsulting.com/buy-now/2310
Top Factors that Support Biotechnology Market
· In 2022 and 2023, BeiGene made investments totaling CNY 11.2 billion (about $1.6 billion) and CNY 12.8 billion ($1.8 billion). The company has invested a total of CNY 49.03 billion ($6.86 billion) in R&D during the past five years. Over the same year, it generated operational revenues of CNY 39.66 billion ($5.55 billion). Sustained financing is the primary source of funding for BeiGene's R&D. BeiGene's research and development expenditure exceeded the industry average by eight times, with 2023 R&D spending coming in at CNY 1.57 billion, or over $216 million.
· Partnerships and collaborations between stakeholders, especially for the research and development purposes create a significant cycle in the market to create new scrutiny.
· With pledges exceeding $500 million, J.P. Morgan Life Sciences Private Capital closes its first biotechnology venture capital fund in June 2024.
How Growing Investments Are Boosting Asia Pacific’s Biotechnology Market?
Asia Pacific is estimated to grow at the fastest rate during the forecast period. Countries like India, China, Japan, and South Korea contribute to the growth of the biotechnology market. Using the power of strategic alliances and capacity building throughout the nation, the Department of Biotechnology (DBT) of the Government of India is leading the drive to support biotechnological innovation and entrepreneurship. 150 enterprises have raised follow-up funding totaling around INR 4,500 Cr. The nation's bioeconomy, which was projected to be valued at $137 billion in 2023, is anticipated to grow to $300 billion by 2030.
Report Scope
|
Report Coverage |
Details |
|
Biotechnology Market Size in 2025 |
USD 1.81 Trillion |
|
Biotechnology Market Size in 2023 |
USD 3.54 Trillion |
|
Biotechnology Market CAGR |
9.18% from 2024 to 2033 |
|
By Technology |
· Nanobiotechnology · Tissue Engineering and Regeneration · DNA Sequencing · Cell-based Assays · Fermentation · PCR Technology · Chromatography · Others |
|
By Product Type |
· Instruments · Reagents and Kits · Software & Services · Others |
|
By Application |
· Health · Food & Agriculture · Natural Resources & Environment · Industrial Processing · Bioinformatics · Others |
|
By Region |
· North America · APAC · Europe · LAMEA |
Top Factors in Indian Biotechnology Industry
Being one of the most lucrative marketplaces for the biotechnology industry, India is observed to grow at a rapid pace in the biotechnology market with factors such as skilled human capital, government support and multiple supportive policies. According to the India Brand Equity Foundation, the patient pool in India is expected to boost over 20% in next 10 years, such epidemiological factors along with lifestyle changes are observed to supplement the growth of the biotechnology market.
· In Fiscal Year 2022, the exports from Indian pharmaceutical industry reached $23.04 billion. Formulations and biologicals accounted for 73.31% of the nation’s total exports.
· In the same year, the bioeconomy investments in India increased by 400% from $1.29 million to $507.77 million.
· India currently carries over 1,400 WHO compliant drug manufacturing plants and had 1,484 ongoing projects in biotechnology sector as of December 2023.
Fine-tune this research to match your requirements—request here for customization@ https://www.cervicornconsulting.com/customization/2310
Emerging End-users to Drive the Biotechnology Market’s Growth
· Applications for biotechnology may be found in many sectors of the economy, including energy, agriculture, medicines, food production, and environmental preservation. Biotechnology is used in agriculture to create genetically engineered crops that are resistant to pests and diseases and have greater yields.
· Biotechnology also supports the energy sector by creating biofuels, biobased materials, and biobased chemicals. Biotechnology is used in the food business to prepare food, improve its quality, and create genetically modified creatures with higher nutritional content.
Ethical Restrictions to Hamper the Market’s Growth
· A number of ethical issues surrounding biotechnology impede the market's expansion. Biotechnology is subject to a number of ethical issues, including those pertaining to justice and human dignity, science and technology ethics, medical ethics, and more.
Rising Demand for Biofuels Creates Opportunity for the Biotechnology Market
· Rising energy costs and the depletion of fossil fuels are rekindling concerns about turning biomass into biofuel. By 2050, biofuels derived from sustainable feedstocks will account for over 25% of the world's fuel needs for transportation. Because it studies microorganisms and genetically modified organisms (GMOs) for the purpose of producing biofuels, the biotechnology sector is a significant contributor to the biofuels business.
Strong Presence of Biotechnology Industry Promote North America’s Dominance
North America dominated the biotechnology market in 2023. By using biotechnology and biomanufacturing to improve American lives by 2022, the U.S. Department of Energy (DOE) shared this objective. Research initiatives in biotechnology and biomanufacturing will be supported by new awards totaling approximately $178 million, according to the DOE Office of Science. A further $120 million was invested by the DOE's EERE to support the scaling up of biotechnology and biomanufacturing to the point where biorefineries might be commercialized.
Since 2019, the Canadian biotech industry has grown significantly as a result of both local and foreign investment in the life sciences sector. This growth is a sign that investors value the biotech sector. Investments totaling $25.9 billion have been made in over 175 Canadian companies.
Chinook Therapeutics, Inversago Pharma, and Bellus are a few Canadian life science startups that have recently received funding. Although there has been a decline in acquisitions overall worldwide, 65 investment agreements totaling $12 billion were recorded in the Canadian biotech sector in 2023.
Major Investment Opportunities in the Biotechnology Market
1. Sustainable Agriculture: Biotechnology sector holds capability of creation of genetically modified crops that are even more resistant to diseases and environmental conditions.
2. Synthetic Biology: The field of synthetic biology has intersection of creating new materials with engineering. In the upcoming years, emerging applications such as synthetic organisms and biofuels create significant opportunities for the market to grow.
3. Gene Editing and Genomics: CRISPR and many other technologies are observed to support the field of genomics with creating new possibilities for curing genetic disorders.
4. Biopharmaceuticals: The development of biosimilars is observed to supplement the growth of pharmaceutical sector, as major key players focus on innovative treatment development, the market is poised to grow.
Top Government Initiatives in the Biotechnology Market
Region |
Initiative |
Key Impacts |
North America |
United States NIH Funding |
Finances allocated for biotech research and innovation |
Europe |
Horizon Europe Program |
95.5 billion Euros allocated for biotech and life science program. |
Asia Pacific |
China’s 14th Five-Year Plan |
Emphasis over biotech as a strategic sector with R&D fundings. |
Middle East |
Saudi Arabia’s Vision 2030 |
Focus on creating biotech jobs and increase in GPD contribution. |
What are the major types of biotechnology?
Blue or Marine Biotechnology:
· This section emphasizes over the exploitation of marine resources for pharmaceutical, environmental and industrial applications. This sector alongside, holds immense potential for the discovery of novel compounds from marine organisms, which can offer development of new drugs, enzymes and biofuels.
· Factors to be focused on for investors, the rising interest in sustainable solutions in the sector of biotechnology and exploration of biodiversity are promoting the demand for this sector. Whereas growing focus on sustainable and novel marine derived compounds will cater the demand for blue or marine biotechnology.
Grey Biotechnology:
· Referred to be environmental biotechnology, this section focuses on the development of solutions for waste management, ecosystem restoration and pollution control. The section holds immense potential in industrial sector that are focused on minimizing environmental impacts.
· Factors to be focused on for investors, opportunities and sector potential can be found in bioremediation and eco-friendly technologies. Additionally, rising demand for eco-friendly industrial processes create sustainable solutions for grey biotechnology to survive in the industry.
Red Biotechnology:
· This section emphasizes on the innovations in medical and healthcare sector, while developing potent solutions for gene therapies, diagnostics and biopharmaceuticals. The ongoing development of cutting-edge therapies for chronic disorders is observed to create potent for the red biotechnology sector.
· Factors to be focused on for investors, the rising demand for biopharmaceuticals and innovative therapies, especially in the wake of precision medicine creates a significant potential for the red biotechnology to grow.
Top Companies in the Biotechnology Market
· AstraZeneca
· BioNTech
· Pfizer Inc.
· Gilead Sciences Inc.
· F. Hoffmann-La Roche Ltd.
· Lonza
· Biogen
· CELGENE Corporation
· Sanofi
· Abbott
· Novartis AG
Pipeline Projects of Companies in the Biotechnology Industry
· In August 2024, the investigational new drug (IND) application for tobevibart and elebsiran, which is intended to treat chronic hepatitis delta infection, was approved by the U.S. Food and Drug Administration (FDA) on June 26. The FDA also expedited the application process.
· In January 2024, BioNTech signed its first agreement of 2024, continuing to fill the pipeline. The German biotech company is investing $20 million upfront for two preclinical monoclonal antibodies that WuXi Biologics is developing for unidentified targets. By the end of 2024, the business hopes to have 10 or more registrational studies underway.
Biotechnology Market News:
· In July 2024, the fund was founded to support startups and small businesses connected to Upstate Medical. The $6 million fund was established with two contributions: $3 million from Empire State Development's Community and Regional Partner Fund, which is part of the State Small Business Credit Initiative through the U.S. Treasury, and $3 million from Upstate Medical University through the SUNY Research Foundation.
· In July 2024, the biotech company's inventor is getting ready to expand into other drug companies and is adding executives as part of this current fundraising round. Flagship Pioneering said on Wednesday that it had raised $6.4 billion since 2021, including an additional $3.6 billion to its capital base.
Related Report
· Clinical Trials Market: https://www.cervicornconsulting.com/clinical-trials-market
· Next Generation Sequencing Market: https://www.cervicornconsulting.com/next-generation-sequencing-market
· In Vitro Diagnostics (IVD) Market: https://www.cervicornconsulting.com/in-vitro-diagnostics-market
· Cell and Gene Therapy Market: https://www.cervicornconsulting.com/cell-and-gene-therapy-market
Biotechnology Market Segmental Analysis
The Bio-Pharmacy Segment Dominated in 2023
By application, the bio-pharmacy segment held the largest share of the biotechnology market in 2024. The goal of contemporary pharmaceutical biotechnology is to encompass innovative and noteworthy discoveries and advancements within the pharmaceutical biotechnology domain. Pharmacological research, including in vitro preclinical and clinical studies, and drug development are the two domains where pharmaceutical biotechnology research is conducted.
The Tissue Engineering Segment Dominated in 2024
By technology, the tissue engineering segment dominated the biotechnology market in 2024. The scientific community and the general public are paying close attention to tissue engineering, a relatively new area in biomedical engineering. It is referred to as the biological substitute for implants, prostheses, and harvested tissues. It incorporates biomaterials, biochemistry, cell biology, biomedical engineering, and transplantation. Tissue engineering has promise in resolving the challenges surrounding donor tissues and organs as well as the shortcomings of existing treatments for clinical tissue damage.
Empower your decisions with in-depth analysis, buy this premium research report@ https://www.cervicornconsulting.com/buy-now/2310
If you need more assistance, reach out to sales@cervicornconsulting.com
About Us
Cervicorn Consulting, based in India and the U.S., is a market research and consulting firm. The company offers a range of services including consulting expertise, customised research solutions, patent analysis and cross-sectional analysis.
Follow Us
Linkedin: https://www.linkedin.com/company/cervicorn-consulting