Biotechnology Market Emerging Trends: Demand and Strategic Insights , Business Insights, Revenue and Forecast from 2024-

Straits Research: Global Biotechnology Market to Reach USD 2200 Billion by 2030

January 14, 2025 – Straits Research is pleased to announce new insights into the global biotechnology market. According to the latest analysis, the global biotechnology market, valued at USD 635 billion in 2021, is projected to experience robust growth, reaching USD 2200 billion by 2030. This remarkable expansion reflects a compound annual growth rate (CAGR) of 14.8% during the forecast period (2022–2030).

Market Definition

Biotechnology encompasses the use of biological systems, organisms, or derivatives to develop or create products and solutions that address health, environmental, agricultural, and industrial challenges. This sector includes technologies such as DNA sequencing, nanobiotechnology, and tissue engineering, which drive innovation across various applications.

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Market Dynamics

The biotechnology market’s growth is influenced by several factors, including key trends, drivers, and opportunities:

Latest Key Trends:

Increased Investment in Biopharmaceuticals: The rising demand for biologics and biosimilars is fueling investments in biopharmaceutical research and manufacturing.
Advancements in Genetic Engineering: Breakthroughs in CRISPR and other gene-editing technologies are transforming research and therapeutic approaches.

Market Drivers:

Rising Prevalence of Chronic Diseases: The growing burden of diseases such as cancer and diabetes is driving demand for biotechnology solutions.
Supportive Government Policies and Funding: Government initiatives promoting RD activities are accelerating innovation and commercialization in the biotechnology sector.

Market Opportunities:

Emerging Markets in Asia-Pacific: The Asia-Pacific region presents immense growth potential due to increasing healthcare investments and a growing population.
Sustainability Focus: The application of biotechnology in sustainable practices, such as bio-based industrial processes and renewable energy solutions, offers significant opportunities.

Market Segmentation

The biotechnology market is segmented by application and technology:

By Application:

Health, Food Agriculture
Natural Resources Environment
Industrial Processing, Bioinformatics
Other Applications

By Technology:

DNA Sequencing
Nanobiotechnology
Tissue Engineering and Regeneration
Fermentation (Biopharmaceutical Manufacturing, Biopharmaceutical Biotechnology Research, and Others)
Cell-Based Assay
PCR Technology
Chromatography
Others

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Key Players in the Biotechnology Market

The biotechnology market is driven by the contributions of major industry players:

Lonza
AstraZeneca
Pfizer Inc.
Gilead Sciences Inc.
F. Hoffmann-La Roche Ltd.
Biogen
CELGENE Corporation
Sanofi
Abbott
Novartis AG
Johnson Johnson Services
Merck KGAA
Bristol-Myers SQUIBB

Regional Highlights

Dominated Region: North America continues to lead the biotechnology market, attributed to advanced healthcare infrastructure, robust RD investments, and early adoption of innovative technologies.
Fastest Growing Region: Asia-Pacific is the fastest-growing region, driven by increasing investments in healthcare and biotechnology, as well as a burgeoning middle-class population.

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About Straits Research

Straits Research is a global market research and consulting firm providing actionable insights across industries. Our in-depth analysis helps businesses make informed decisions, identify growth opportunities, and understand emerging trends.