Biotechnology Market Overview
Biotechnology involves the use of living organisms and biological systems to develop products and technologies that improve human health, agriculture, and the environment. It integrates genetics, molecular biology, and biochemistry to create innovative solutions in medicine, food production, and industrial processes. The market is rapidly expanding due to advancements in genetic engineering, increasing investments, and growing demand for personalized medicine. It plays a crucial role in healthcare innovation, agricultural improvements, and sustainable industrial applications, driving significant economic growth globally.
Key Findings
- In December 2023, the FDA approved Casgevy and Lyfgenia, the first gene therapies for sickle cell disease, with Casgevy being the first to use CRISPR genome editing. Such groundbreaking approvals are expected to drive significant market growth.
- One of the major market trends includes the expansion of psychiatric and neurological disorder therapies. For instance, in 2023, Otsuka Pharmaceutical acquired Mindset Pharma to develop novel 5-HT2A agonists targeting treatment-resistant depression and PTSD.
- The key players in the market are investing to expand their manufacturing capabilities and geographic reach, bolstering the market by intensifying competition. For example, in April 2024, FUJIFILM inves ted USD 1.2 billion to expand its cell culture CDMO facility in North Carolina, United States.
Biotechnology Market Demand Drivers
The market is significantly driven by the increasing global prevalence of cardiovascular diseases (CVDs), which the World Health Organization (WHO) identifies as the leading cause of death, accounting for an estimated 17.9 million fatalities annually (2024). This urgency has led governments worldwide to implement targeted healthcare initiatives and increase funding for biotechnology research and development. Additionally, according to data from PIB Delhi (January 2025), India is rapidly advancing its biotechnology sector, fueled by the BIO-E3 policy and a significant bioeconomy expansion—from USD 10 billion in 2014 to USD 130 billion in 2024. This growth is fostering innovation and driving advanced research. Together, these factors are fueling substantial technological advancements and ongoing growth in the global biotechnology market.
Biotechnology Market Segmentation Analysis
PCR Technology to Hold a Significant Market Share for Segmentation by Technology
Among the various technologies, PCR is expected to hold a significant share of the biotechnology market due to its critical applications in diagnostics, genetic research, and disease surveillance. For instance, in September 2024, Takara Bio USA’s recent launch of the SmartChip ND real-time PCR System, a high-throughput, flexible platform for antimicrobial resistance monitoring, demonstrates the expanding scope and demand for advanced PCR solutions. This innovation underscores PCR technology’s pivotal role in driving market growth. Other key technologies in the market include nanobiotechnology, tissue engineering and regeneration, DNA sequencing, cell-based assays, fermentation, chromatography, and others.
The market report also offers insights based on the application, end user, product type and region.
Biotechnology Market: Competitive Landscape
- In May 2025, AstraZeneca plc, based in Cambridge, UK, completed the acquisition of EsoBiotec, a Belgium-based biotech firm specializing in in vivo cell therapies. Founded in 1999, AstraZeneca focuses on oncology and rare diseases. The acquisition enhances its cell therapy pipeline with EsoBiotec’s Engineered NanoBody Lentiviral (ENaBL) platform, enabling faster immune-targeted cancer treatments.
- In September 2024, Gilead Sciences , Inc., headquartered in Foster City, California, announced a collaboration with Genesis Therapeutics. Founded in 1987, Gilead is a leading biopharmaceutical company. This partnership uses Genesis’ AI-driven GEMS platform to accelerate the discovery and development of novel small-molecule therapies, advancing biotechnology innovation.
- Other players involved in the market include Bristol-Myers Squibb, Sanofi, Biogen, Pfizer, Inc., Amgen Inc., Novo Nordisk A/S, Merck KGaA, and Johnson & Johnson Services, Inc.
Biotechnology Market Analysis by Region
North America is Projected to Lead the Market Share
The global biotechnology market is primarily segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, North America is expected to lead the market, driven by substantial government support, advanced research infrastructure, and large-scale private investments. In September 2023, the Biden-Harris Administration launched an action plan to expand and diversify the United States' biomanufacturing workforce, enhancing the region’s leadership. Europe and Asia Pacific also experience significant growth, fueled by rising healthcare needs, technological advancements, and expanding biotech hubs.
Key Offerings of the Report
- The EMR report gives an overview of the market for biotechnology for the period (2018-2024) and (2025-2034).
- The report also offers historical (2018-2024) and forecast (2025-2034) market information for the technology, application, and region of the market.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
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