The global biotechnology market was valued at USD 1,000.46 billion in 2021 and is expected to grow at a CAGR of 15.6% during the forecast period. The remarkable advancement of genetic biology leads to the formation of modern research domains such as proteomics, genomics, and metabolomics, which in turn is boosting industry growth.

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Biotechnology utilizes living organisms, particularly organisms and microbes, to create diverse solutions that benefit humans. It is a synthesis of numerous techniques used to live cells, encompassing not just biological but also arithmetic, biochemistry, and engineering. The outbreak of the COVID-19 pandemic is expected to have a long-lasting effect on the industry. Increasing investment in research for the development of vaccines and drugs by several biotech businesses has boosted the industry's growth.

Industry Dynamics

Growth Drivers
Increasing awareness regarding the broad application of these technologies, such as human and animal nutrition, environmental protection, drug development, along with agricultural improvements are expected to drive the biotechnology market growth over the forecast period.

Furthermore, the COVID-19 outbreak has led several organizations to invest in the research & development of novel drugs for the future crisis, which in turn is expected to drive the biotechnology market growth over the forecast period. Additionally, increasing demand for organic agricultural goods, increased use of biotechnology in clinical trials, along with the creation of higher effective, nutritious, and long-lasting hybrid plants and animals are expected to fuel the biotechnology market expansion.

Report Segmentation

The market is segmented in the most comprehensive way based on technology, application, and region.

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Insight by Technology

Tissue engineering and regeneration segment held a strong share of the market in 2021 and is expected to grow considerably over the forecast period due to its advantages of regenerating patients' tissue and organ and the advancement in technology. Furthermore, the rise in the operational regenerative treatments due to increasing cases of obesity and diabetes among the population is expected to boost the industry growth over the forecast period.

Nanobiotechnology segment is expected to grow at a significant pace over the forecast period due to increasing novel drug discovery along with rising investment by several private and government organizations. In addition, nanotechnology offers new potentials for life-saving medical and cancer treatment.

Insight by Application

Biopharma segment is expected to grow significantly over the forecast period. Increasing prevalence of chronic diseases among the population has led several private and public businesses to introduce novel drugs and vaccines for the treatment, which in turn has benefitted the segment growth. Furthermore, the emergence of the COVID-19 pandemic has triggered investment in the pharmaceutical industry, contributing to industry expansion.

Geographic Overview

North America dominated the global market in 2021 and is expected to maintain its dominance over the forecast period due to increasing investment in research & development. Further, the presence of major industry players in the region, along with rising awareness about biotechnology applications, are also expected to fuel this trend.

Asia Pacific market is expected to grow at a considerable pace over the forecast period owing to increasing investment in research & development along with the growing healthcare infrastructure. For instance, The Central Council for Research in Siddha (CCRS) launched ARIVU in August 2021, a program to encourage academics and businesses to research to develop the value chain in biotechnology and nanotechnology.

Competitive Insights

Some of the prominent players operating in the global market include Abbott, Agilent Technologies, Amgen Inc., AstraZeneca, Biogen, Bio-Rad Laboratories, CELGENE CORPORATION, Danaher, F. Hoffmann-La Roche Ltd., Gilead Sciences, Inc., Johnson & Johnson Services, Inc., Lonza, Merck & Co., Novartis AG, Novo Nordisk A/S, PerkinElmer, Pfizer, Inc., Qiagen, Sanofi, and Thermo Fisher Scientific.

These players are investing in research & development and adopting strategies including mergers & acquisitions, products launches, partnerships & collaboration to increase their industry presence and customer base. For instance, in April 2021, Thermo Fisher Scientific Inc., the world leader in serving science, acquired PPD (providing a broad range of clinical research and laboratory services) to create meaningful benefits for their customers.

Biotechnology Market Report Scope

Report Scope

Biotechnology Market, Technology Outlook (Revenue, USD Billion, 2017 - 2029)

• Fermentation
• Tissue Engineering and Regeneration
• PCR Technology
• Nanobiotechnology
• Chromatography
• DNA Sequencing
• Cell-Based Assays
• Others

Biotechnology Market, Application Outlook (Revenue, USD Billion, 2017 - 2029)

• BioPharmacy
• BioServices
• BioAgriculture
• BioIndustrial
• Bioinformatics

Biotechnology Market, Regional Outlook (Revenue, USD Billion, 2017 - 2029)

• North America
  • Technology Outlook
    • Fermentation
    • Tissue Engineering and Regeneration
    • PCR Technology
    • Nanobiotechnology
    • Chromatography
    • DNA Sequencing
    • Cell-Based Assays
    • Others
  • Application Outlook
    • BioPharmacy
    • BioServices
    • BioAgriculture
    • BioIndustrial
    • Bioinformatics
• Europe
  • Technology Outlook
    • Fermentation
    • Tissue Engineering and Regeneration
    • PCR Technology
    • Nanobiotechnology
    • Chromatography
    • DNA Sequencing
    • Cell-Based Assays
    • Others
  • Application Outlook
    • BioPharmacy
    • BioServices
    • BioAgriculture
    • BioIndustrial
    • Bioinformatics
• Asia Pacific
  • Technology Outlook
    • Fermentation
    • Tissue Engineering and Regeneration
    • PCR Technology
    • Nanobiotechnology
    • Chromatography
    • DNA Sequencing
    • Cell-Based Assays
    • Others
  • Application Outlook
    • BioPharmacy
    • BioServices
    • BioAgriculture
    • BioIndustrial
    • Bioinformatics
• Latin America
  • Technology Outlook
    • Fermentation
    • Tissue Engineering and Regeneration
    • PCR Technology
    • Nanobiotechnology
    • Chromatography
    • DNA Sequencing
    • Cell-Based Assays
    • Others
  • Application Outlook
    • BioPharmacy
    • BioServices
    • BioAgriculture
    • BioIndustrial
    • Bioinformatics
• Middle East & Africa
  • Technology Outlook
    • Fermentation
    • Tissue Engineering and Regeneration
    • PCR Technology
    • Nanobiotechnology
    • Chromatography
    • DNA Sequencing
    • Cell-Based Assays
    • Others
  • Application Outlook
    • BioPharmacy
    • BioServices
    • BioAgriculture
    • BioIndustrial
    • Bioinformatics

Qualitative Analysis

• Industry overview
  • Industry trends
  • Market drivers and restraints
  • Market size
  • Growth prospects
  • Porter’s analysis
  • PESTEL analysis
  • Value chain analysis
  • Key market opportunities prioritized
• Competitive landscape
  • Overview
  • Financials
  • Technology benchmarking
  • Latest strategic developments

Quantitative Analysis

• Market size, estimates, and forecasts from 2017 - 2029
• Market revenue estimates for technology up to 2029
• Market revenue estimates for application up to 2029
• Regional market size and forecast up to 2029
• Company financials