The global biotechnology market size reached USD 761.5 Billion in 2024 and is expected to reach USD 1,315.9 Billion by 2033. The market is projected to grow at a CAGR of 6.27% during the forecast period 2025–2033. Key growth drivers include rising R&D in personalized medicine, advancements in genetic engineering, and increasing demand for sustainable agriculture. These factors are propelling innovation in healthcare, agriculture, and environmental management sectors. 

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Biotechnology Market Key Takeaways

• Current Market Size: USD 761.5 Billion in 2024
• CAGR: 6.27%
• Forecast Period: 2025-2033
• The biotechnology market encompasses genetic engineering, biopharmaceuticals, bioinformatics, and synthetic biology to drive innovations across medicine, agriculture, and environmental management.
• Rapid advancements like CRISPR-Cas9 are significantly enabling precise gene editing for therapeutic and agricultural applications.
• Personalized medicine demand is rising, fostering development of biopharmaceuticals such as monoclonal antibodies and gene therapies.
• Sustainable agriculture drives adoption of GMO crops and biopesticides, reducing environmental impacts and enhancing food security.
• North America holds the largest market share, benefitting from robust R&D investments, regulatory frameworks, and innovative biotech ecosystems.

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Market Growth Factors

The biotechnology market growth is primarily driven by groundbreaking innovation in gene editing, personalized medicine, and sustainable agriculture. Advancements such as CRISPR-Cas9 technology enable precise modification of genes in organisms, opening unprecedented opportunities in medicine, agriculture, and industrial biotechnology. This precise gene editing facilitates the development of novel therapies for genetic disorders, cancers, and engineered microbes for pharmaceuticals and enzymes. These technological strides underpin high demand and investment across multiple sectors.

The increasing prevalence of chronic diseases along with the necessity for targeted drug treatments are fuelling demand for biopharmaceuticals and precision medicine. Biotechnology advancements enable development of personalized medicine tailored to an individual's genetic profile, enhancing efficacy and safety of treatments. Genomic sequencing breakthroughs allow identification of genetic variations linked to diseases, fostering diagnostics and gene therapies aligned with personalized healthcare. This trend significantly propels growth within the healthcare biotechnology segment.

Sustainable agriculture is another significant driver. The global population rise and limited arable land increase the need for efficient farming solutions. Biotechnology aids in developing genetically modified crops with improved yield, pest resistance, and nutrition. Biopesticides, offering environmentally friendly alternatives to chemical pesticides, are becoming preferred. Biotechnology tools optimize plant resilience to climate change and nutrient uptake, addressing food security and sustainability. Emphasis on environmental preservation drives increased adoption of bioremediation and biofuels technologies, reinforcing market expansion.

Market Segmentation

Breakup by Product Type:

• Instruments: Foundation of advanced research and diagnostics facilitating precise biological analysis and experimentation.
• Reagents: Essential components fueling experimental processes, enabling accurate results and new discoveries.
• Software and Services: Includes data analysis, visualization, integration solutions, consulting, training, and technical support enhancing biotech effectiveness and innovation.

Breakup by Technology:

• Nanobiotechnology: Combines nanoscale materials with biological systems, revolutionizing drug delivery, diagnostics, and therapies.
• Tissue Engineering and Regeneration: Creates functional tissues addressing organ shortages and medical needs.
• DNA Sequencing: Enables comprehensive genomic analysis guiding personalized medicine and disease understanding.
• Cell-Based Assays: Provides cellular behavior insights supporting drug development and toxicity testing.
• Fermentation: Core bioprocess producing biofuels, pharmaceuticals, and enzymes.
• PCR Technology: Amplifies DNA, essential for diagnostics and genetic research.
• Chromatography: Separates biomolecules with precision, crucial for drug purification and analytics.
• Others: Additional biotechnological technologies contributing to industry advancement.

Breakup by Application:

• Healthcare: Dominates the market; pivotal in diagnostics, treatment, and personalized medicine innovations.
• Food and Agriculture: Focuses on crop improvement and sustainable farming methods.
• Natural Resources and Environment: Includes bioremediation and environmental biotech applications.
• Industrial Processing: Biotechnology used in production and manufacturing processes.
• Bioinformatics: Intersection of IT and biotech optimizing data-driven research.
• Others: Other applications within the biotechnology domain.

Regional Insights

North America is the dominant region in the biotechnology market, accounting for the largest market share. This is attributed to its robust ecosystem comprising strong R&D investments, well-established regulatory structures, and a collaborative environment among universities, research institutions, and biotech companies. The region's focus on entrepreneurship and venture capital accelerates commercialization of novel biotech solutions, sustaining leadership in genomics, pharmaceuticals, and medical devices. The ‘Biotech Across America’ roadshow in June 2025 underscored North Carolina's strength in biopharma manufacturing and agricultural biotech innovations.

Recent Developments & News

In May 2025, Biogen partnered with City Therapeutics to develop RNA interference (RNAi) therapies targeting central nervous system diseases, combining their RNAi platform and delivery technologies for clinical development and commercialization.

Also in May 2025, Biocon Biologics launched Ustekinumab BS Subcutaneous Injection [YD] in Japan, a biosimilar targeting psoriasis and psoriatic arthritis, expanding its global biosimilar market presence.

In April 2025, Novartis announced a USD 23 Billion investment over five years to expand its US biotech and pharmaceutical operations, including seven new facilities and 5,000 new jobs focused on biologics and radioligand therapies.

Amgen expanded its Ohio biologics manufacturing site with a USD 900 Million investment, increasing total investment to over USD 1.4 Billion and employing 750 people.

In March 2025, Roche opened the Roche Genentech Innovation Center Boston to lead R&D in cardiovascular, renal, and metabolism diseases and support AI-driven drug discovery, employing up to 500 staff.

Key Players

• Amgen Inc.
• Biocon Limited
• Biogen Inc.
• F. Hoffmann-La Roche AG
• Genmab A/S
• Lonza Group AG
• Novartis AG
• Novo Nordisk A/S
• Pfizer Inc.
• Regeneron Pharmaceuticals Inc.
• Seagen Inc.
• Syngenta AG
• Vertex Pharmaceuticals Incorporated

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