Biotechnology Market

According to Stratistics MRC, the Global Biotechnology Market is accounted for $1651.48 billion in 2024 and is expected to reach $6929.40 billion by 2030 growing at a CAGR of 27.0% during the forecast period. Biotechnology is a quickly developing field that uses biological systems, organisms, or their derivatives to develop or create technologies and products for a range of uses. It addresses issues in industries like healthcare, agriculture, and environmental management by fusing concepts from biology and technology. Biotechnology helps to develop cutting-edge medical treatments such as gene therapies and personalized medicine. It aids in the development of genetically modified crops in agriculture, which provide higher yields and insect resistance. 

According to the World Health Organization (WHO), biotechnology has the potential to revolutionize healthcare by providing new treatments and therapies that can address previously untreatable conditions.

Market Dynamics: 

Driver: 

Growing interest in customized treatment

Healthcare is being transformed by the move toward personalized medicine, which adjusts treatments based on a patient's unique genetic, environmental, and lifestyle factors. Precision therapies and diagnostics that are tailored to each patient's specific needs are made possible in large part by biotechnology. Moreover, the development of targeted medications, which have fewer side effects and greater efficacy than conventional therapies, is made possible by developments in genomics and biomarkers.

Restraint:

Safety and ethical issues

Biotechnology frequently raises questions about safety and ethics, especially in fields like genetic modification and stem cell research. Public opposition and regulatory scrutiny may result from concerns about the possible misuse of genetic data, the long-term effects of genetic alterations, and the humane treatment of research subjects. Additionally, research advancement and market acceptability may be impacted by these worries.

Opportunity:

Developments in customized medicine

There is significant room for growth in personalized medicine, which adjusts therapies based on a patient's unique genetic, environmental, and lifestyle characteristics. Biotechnology companies can now develop more precise and effective therapies owing to the growing availability of genomic data and advances in bioinformatics. Moreover, the growth of targeted therapies, genetic diagnostics, and personalized cancer treatments are examples of this trend, which is creating new opportunities for innovation and market expansion.

Threat:

Threats from alternative technologies

Traditional pharmaceuticals, generic medications, and non-biological treatments are some of the alternative technologies and therapies that compete with the biotechnology market. Products made using biotechnology may face competition from innovations in other fields like synthetic biology and nanotechnology. Additionally, differentiating products in a crowded market and staying ahead of technological advancements can be difficult tasks.

Covid-19 Impact: 

The COVID-19 pandemic had a significant effect on the biotechnology industry, hastening the creation and uptake of treatments, vaccines, and diagnostic instruments. Rapid advancements in vaccine technology, including mRNA vaccines, were made possible by the unprecedented collaboration of biotech companies, governments, and research institutions in response to the pressing need for solutions. Furthermore, the pandemic also brought to light the vital role that biotechnology plays in resolving international health emergencies, spurring more investment and innovation in the field.

The Bio-pharmacy segment is expected to be the largest during the forecast period

The largest share of the biotechnology market is held by the biopharmacy segment. This section is dedicated to the development and production of pharmaceutical products through the application of biotechnological techniques, including gene therapy, monoclonal antibodies, and recombinant DNA technology. Biopharmacy's dominant position in the market is a result of its significant contributions to the treatment of diseases such as cancer, autoimmune disorders, and genetic conditions. Moreover, this sector's prominence is further enhanced by the growing demand for biologic drugs and personalized medicine, which plays a major role in the overall growth of the biotechnology industry.

The DNA sequencing segment is expected to have the highest CAGR during the forecast period

In the biotechnology market, the DNA sequencing segment is growing at the highest CAGR. Finding the exact nucleotide order within a DNA molecule is known as DNA sequencing, and it is essential for many fields, such as genomics, personalized medicine, and genetic research. Additionally, the demand for DNA sequencing services and products has surged as a result of the rapid advancements in sequencing technologies, such as next-generation sequencing (NGS), which have drastically reduced costs and increased throughput.

Region with largest share:

The largest share of the biotechnology market is held by the North American region. The main factors contributing to this dominance are the existence of a strong research and development network, a large healthcare infrastructure, and significant investments in biotech innovation. Leading biotechnology companies and research institutes are primarily located in the United States, creating an environment that is favorable for advances in genomics, drug development, and biopharmaceuticals. Moreover, favorable government regulations, significant funding for biotech research and high healthcare spending all contribute to North America's dominant position in the world biotechnology market.

Region with highest CAGR:

In the biotechnology market, the Asia-Pacific region is growing at the highest CAGR. The region's expanding healthcare infrastructure, growing investments in biotech research, and growing emphasis on enhancing healthcare outcomes are all contributing factors to this rapid growth. Growing biotech start-ups, government programs to encourage innovation and the rapidly expanding biotech sectors of nations like China and India are all major factors in this growth. Furthermore, the demand for personalized medicine and advanced biotech solutions is also being driven by the region's large population base and rising chronic disease prevalence, making Asia-Pacific the region with the fastest rate of growth in the global biotechnology market.

Key players in the market

Some of the key players in Biotechnology market include Siemens, Novartis AG, Amgen Inc., Johnson & Johnson Services, Inc., Merck KGaA, General Electric, Abbott Laboratories, Novo Nordisk A/S, Pfizer, Inc., Sanofi, F. Hoffmann-La Roche Ltd., Vertex Pharmaceuticals Inc., Agilent Technologies Inc, Olympus Corporation, Sysmex Corporation, Bristol-Myers Squibb, Thermo Fisher Scientific, AstraZeneca and Danaher.

Key Developments:

In July 2024, Boson Energy and Siemens AG have signed a Memorandum of Understanding (MoU) to facilitate collaboration on technology that converts non-recyclable waste into clean energy. The collaboration aims to advance sustainable, local energy security, enabling hydrogen-powered electric vehicle charging infrastructure without compromising grid stability or impacting consumer prices.

In June 2024, Novartis has entered an agreement to make a voluntary public takeover offer to acquire MorphoSys AG, a Germany-based, global biopharmaceutical company developing oncology medicines, for €2.7 billion. The acquisition, subject to customary closing conditions, further expands Novartis’ oncology pipeline as well as its global footprint in hematology. 

In May 2024, Merck, a leading science and technology company, has signed a definitive agreement to acquire life science company Mirus Bio for US$ 600 million. Based in Madison, Wisconsin, USA, Mirus Bio is a specialist in the development and commercialization of transfection reagents.

Types Covered:
• Bio-pharmacy
• Bio-industries
• Bio-services
• Bio-agriculture
• Bio-informatics
• Other Types 
 
Product Types Covered:
• Instruments
• Reagents
• Software and Service
• Other Product Types 

Technologies Covered:
• Nanobiotechnology
• Tissue Engineering and Regeneration
• DNA Sequencing
• Cell-based Assays
• Fermentation
• Polymerase Chain Reaction (PCR) Technology
• Chromatography
• Other Technologies 

Applications Covered:
• Healthcare
• Food & Agriculture
• Natural Resources & Environment
• Industrial Processing
• Other Applications 
 
End Users Covered:
• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations
• Academic and Research Institutes
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances