Key Takeaways:
· DNA sequencing dominated this market and held the highest revenue market share of 18% in 2023
· The others’ segment is anticipated to grow at the fastest CAGR of 28.1% during the forecast period.
· The health segment dominated the market and accounted for the largest revenue market share of 44.13% in 2023.
· Bioinformatics is expected to witness the fastest growth, with a CAGR of 17.2% during the forecast period.
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The U.S. biotechnology market is witnessing major growth contributed by the increasing adoption and applications of biotechnology in many industries like pharmaceuticals, agriculture, food production, environmental conservation, and energy. In addition, market players in the industry are increasingly focusing on innovations across many fields such as energy, medicine, and materials science using biological processes to overcome challenges and fuel technological advancements. Also, in recent years there has been a notable surge in the utilization of biotechnological methods including DNA fingerprinting, stem cell technology, and genetic engineering propelling the market expansion soon.
One of the major opportunities driving the growth of the market is increase of the biotechnology sector in emerging economies like Japan, China and India due to favorable government policies in these nations. Moroever, the, agricultural input firms are focusing on advancing existing technologies like the development of emerging stacked features in new germplasm and crops through DNA sequencing and breeding innovations.
Additionally, ongoing technological developments in Polymerase Chain Reaction (PCR) technologies along with the incorporation of robotics in the industry can create lucrative opportunities in the market further.
The integration of Artificial Intelligence and biotechnology promises crucial innovations from boosting drug discovery to individualizing mediicne.AI can substantially lessen the drug discovery time period by processing a large number of datasets to identify probable drug candidates easily. Furthermore, ML algorithms can forecast how various compounds will interact with each other, enabling researchers to concentrate on the most significant leads early in the process.
Market Trends
· Advancements in Genetic Biopharmaceuticals: The market is experiencing rapid growth driven by advancements in biopharmaceuticals, genetic engineering, and bioinformatics. Innovations in biotechnology are transforming agriculture, healthcare, and industrial processes which can lead to enhanced crop yields, personalized medicine, and sustainable solutions. The current trend in the market is the growing use of CRISPR gene-editing technology, that enables precise modifications in DNA.
· In September 2023, Biogen announced that the U.S. Food and Drug Administration (FDA) had approved CONFIDENCE (tocilizumab-above) in its intravenous form, representing a biosimilar monoclonal antibody concerning ACTEMRA.
· Rising Demand for Personalized Medicine: The shift towards individualized medicines catering to the treatments based on patient's genetic profiles is substantially impacting the market growth. This movement allows healthcare professionals to provide more effective therapies that comply with an individual’s unique genetic makeup, strengthening the likelihood of desire treatment outcomes.
· Increasing Focus on Sustainable Practices: The growing demand for sustainable agricultural solutions is substantially creating market opportunities within the sector. Consumers are increasingly becoming environmentally conscious, hence there is an increasing preference for eco-friendly practices that reduce the utilization of chemical pesticides and fertilizers. Biotechnology offers solutions to this problem in the form of genetically modified crops that necessitate few resources.
Country Insights
The U.S. held over U.S. biotechnology market share in 2023. The growth of the country can be attributed to the increasing demand for agricultural goods such as rice, wheat, and beans due to the surge in population. Scientists in the U.S. are also focusing on innovative agricultural technologies through wide (R&D) to overcome hurdles like water scarcity, pest attacks, and limited land availability. Furthermore, market players in the region are implementing key strategies to improve their manufacturing abilities and strengthen the geographical distribution of their goods.
· In October 2023, Amgen announced that it had completed its acquisition of Horizon Therapeutics plc. Horizon Therapeutics is a biopharmaceutical company focused on developing and commercializing therapies for rare genetic and autoimmune diseases.
The U.S. Biotechnology Market Trends
· In February 2024, Zydus Lifesciences announced that its wholly owned subsidiary, Zydus Lifesciences Global FZE, has entered into an exclusive licensing, supply, and commercialization agreement with Zhuhai Beihai Biotech Co., Ltd for BEIZRAY in the US market. BEIZRAY is a 505(B)(2) product, approved for the treatment of breast cancer, non-small cell lung cancer, prostate cancer, gastric adenocarcinoma, and head and neck cancer.
· In December 2024, Biocon Biologics secured USFDA approval to launch the biosimilar of Janssen's Stelara by February 2025, targeting autoimmune conditions like Crohn's disease and plaque psoriasis. Despite competition from five other biosimilars, this launch is anticipated to significantly boost Biocon's revenue and profitability.
U.S. Biotechnology Market Report Scope
|
Report Attribute |
Details |
|
Market Size in 2024 |
USD 621.55 Billion |
|
Market Size by 2033 |
USD 1,794.11 Billion |
|
Growth Rate From 2024 to 2033 |
CAGR of 12.5% |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2033 |
|
Segments Covered |
Technology, application |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Key Companies Profiled |
AstraZeneca; Gilead Sciences, Inc.; Bristol-Myers Squibb; Sanofi; Biogen; Abbott Laboratories; Pfizer, Inc.; Amgen Inc.; Novo Nordisk A/S; Merck KGaA; Johnson & Johnson Services, Inc.; Novartis AG; F. Hoffmann-La Roche Ltd.; Lonza |
Segment Insights
By Technology Insights
DNA sequencing dominated this market and held the highest revenue market share of 18% in 2023. The dominance of the segment can be attributed to the increasing penetration of innovative DNA sequencing techniques coupled with the decreasing sequencing costs. This technology is crucial in creating customized treatments by pinpointing mutations. In addition, developments in sequencing systems are improving cost-effectiveness and speed providing substantial benefits in healthcare applications.
The others segment is expected to grow at the fastest rate over the forecast period. The growth of the segment can be credited to the increasing utilization of microorganisms in the food sector and to tackling atmospheric challenges such as climate change. This segment involves fermentation in environmental and food applications. Also, there is increasing dependence on processed foods, which leads to a raised demand for such products, impacting on positive market growth in the country further.
By Application Insights
The health segment dominated the market and accounted for the largest revenue market share of 45.0% in 2023. The dominance of the segment can be linked to the advancements in molecular biology, genomics bio-imaging, new drug discovery and cellular & tissue engineering that provide promising possibilities for improving diagnostic abilities and strengthening treatment options. Furthermore, increasing availability of bio-services, Agri-biotech and technological innovations in the bio-industrial sector can drive segment's growth shortly.
Bioinformatics is expected to witness the fastest growth, with a CAGR of 17.2% during the forecast period. The growth of the segment can be driven by the ongoing global expansion of bioinformatics fueled by many fields like mathematics, physics, and pharmaceuticals along with the emergence of advanced biotechnology fields such as genomics and proteomics. Additionally, the surge of biomedical cloud platforms tailored to the research community is anticipated to propel bioinformatics tool use in life sciences.
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· Environmental Biotechnology Market - https://www.precedenceresearch.com/environmental-biotechnology-market
U.S. Biotechnology Market Top Companies
· Bristol-Myers Squibb
· Sanofi
· Biogen
· Abbott Laboratories
· Novo Nordisk A/S
· Merck KGaA
· Johnson & Johnson Services, Inc.
· Novartis AG
· F. Hoffmann-La Roche Ltd.
· Lonza
U.S. Biotechnology Market Recent Developments
· In October 2023, Gilead Sciences, Inc. partnered with Assembly Biosciences to develop innovative therapeutics targeting severe viral diseases. This collaboration aims to leverage both companies' expertise and resources to accelerate the creation of effective treatment options. By combining their strengths, they seek to address critical unmet medical needs in the field of virology and improve patient outcomes.
· In July 2023, Alexion and AstraZeneca Rare Disease entered into an agreement with Pfizer Inc. to acquire preclinical gene therapy programs. This collaboration reinforces their commitment to advancing next-generation genomic medicines by integrating complementary assets and innovative technologies. By pooling resources, the companies aim to accelerate the development of transformative therapies in the field of gene therapy.
· In June 2023, Lonza completed the acquisition of Synaffix B.V., a biotechnology firm focused on enhancing its clinical-stage technology platform for antibody-drug conjugate (ADC) development. Following the acquisition, Synaffix's revenues and profit margins are anticipated to be integrated into Lonza's financial statements from the date of the acquisition.
· In October 2023, Kite, a subsidiary of Gilead, entered into a research collaboration and licensing agreement with Epicrispr Biotechnologies. This partnership aims to harness Epic Bio's gene regulation platform to enhance the development of advanced cancer cell therapies. By integrating their innovative technologies, both companies aspire to create more effective treatment options for cancer patients.
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Biotechnology market.
By Technology
· Nanobiotechnology
· Tissue Engineering and Regeneration
· DNA Sequencing
· Cell-based Assays
· Fermentation
· PCR Technology
· Chromatography
· Others
By Application
· Health
· Food & Agriculture
· Natural Resources & Environment
· Industrial Processing
· Bioinformatics
· Others
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