The global biotechnology market size reached USD 761.5 Billion in 2024 and is forecasted to grow to USD 1,315.9 Billion by 2033, exhibiting a CAGR of 6.27% during the 2025-2033 period. Key growth drivers include advancements in genetic engineering, growing demand for personalized medicine, and increasing adoption of sustainable agriculture solutions. This multidisciplinary science impacts healthcare, agriculture, and environmental management, fostering innovation in genetic engineering, biopharmaceuticals, and bioinformatics. 

Study Assumption Years

• Base Year: 2024

• Historical Years: 2019-2024

• Forecast Years: 2025-2033

Biotechnology Market Key Takeaways

• Current Market Size: USD 761.5 Billion in 2024

• CAGR: 6.27% during 2025-2033

• Forecast Period: 2025-2033

• The biotechnology market is propelled by growth in personalized medicine and genetic engineering advancements.

• High incidence of chronic diseases increases demand for biopharmaceuticals and precision medicine.

• Sustainable agriculture needs drive biotechnological adoption for crop improvement and biopesticides.

• The integration of bioinformatics enhances R&D efficiency.

• Bioremediation technologies and biofuels contribute to sustainability-driven market expansion.

Sample Request Link: 

https://www.imarcgroup.com/biotechnology-market/requestsample

Market Growth Factors

The growing need for advanced healthcare solutions is one of the strongest growth drivers of the biotechnology market. Increasing cases of chronic diseases such as cancer, diabetes, and genetic disorders are pushing demand for innovative diagnostics, personalized medicine, and biologics. Biotechnology plays a key role in drug discovery, DNA sequencing, cell-based assays, and regenerative medicine. For healthcare providers and pharmaceutical companies, biotech enables faster and more accurate treatments with better patient outcomes. Investors and analysts see healthcare biotechnology as a long-term growth engine due to aging populations and rising healthcare spending globally. Governments are also increasing healthcare budgets, further supporting biotechnology research, commercialization, and large-scale adoption across developed and emerging regions.

Continuous technological innovation is accelerating biotechnology market growth across multiple applications. Technologies such as PCR, nanobiotechnology, chromatography, and tissue engineering are becoming more efficient, cost-effective, and widely accessible. Automation, AI-driven bioinformatics, and advanced software platforms are improving research accuracy and reducing development timelines. For biotech companies and startups, these advancements help scale operations and improve product pipelines. Market analysts benefit from clearer data-driven insights, while marketers can position new technologies as high-value solutions. As laboratories and industrial users upgrade their systems, demand for advanced instruments, reagents, and biotech services continues to rise, creating strong revenue opportunities across the global biotechnology ecosystem.

The biotechnology market is growing rapidly due to its expanding use beyond healthcare into food, agriculture, industrial processing, and environmental management. Biotechnology helps improve crop yields, develop bio-based fertilizers, and enhance food safety through genetic and microbial solutions. In industrial processing, fermentation and enzyme technologies are used to produce biofuels, biodegradable plastics, and sustainable chemicals. Environmental biotechnology supports waste treatment and resource conservation. For policymakers and sustainability-focused organizations, biotechnology offers solutions aligned with climate goals and resource efficiency. This diversification of applications reduces market risk and attracts long-term investments, making biotechnology a highly resilient and multi-sector growth market.

Market Segmentation

Breakup by Product Type: Instruments, Reagents, Software and Services

• Instruments: Form the foundation of advanced research and diagnostics, enabling precise analysis and experimentation.

• Reagents: Essential components fueling experimental processes to facilitate accurate results and breakthroughs.

• Software and Services: Software provides data analysis, visualization, and integration solutions enhancing efficiency; services include consulting, training, and technical support aiding tool utilization and collaboration.

Breakup by Technology: Nanobiotechnology, Tissue Engineering and Regeneration, DNA Sequencing, Cell-Based Assays, Fermentation, PCR Technology, Chromatography, Others

• Nanobiotechnology: Integrates nanoscale materials with biological systems revolutionizing drug delivery and diagnostics.

• Tissue Engineering and Regeneration: Develops novel approaches for functional tissue creation addressing organ shortages.

• DNA Sequencing: Enables comprehensive genomic analysis guiding personalized medicine and disease understanding.

• Cell-Based Assays: Offers insights into cellular behavior supporting drug development and toxicity testing.

• Fermentation: A key bioprocess producing biofuels, pharmaceuticals, and enzymes.

• PCR Technology: Amplifies DNA supporting diagnostics and genetic research.

• Chromatography: Separates biomolecules crucial for drug purification and analysis.

Breakup by Application: Healthcare, Food and Agriculture, Natural Resources and Environment, Industrial Processing, Bioinformatics, Others

• Healthcare: The largest segment, pivotal in driving biotechnology innovations in diagnostics, treatment development, and personalized medicine, enhancing disease management and patient outcomes.

Regional Insights

North America dominates the biotechnology market due to its robust ecosystem of research, innovation, and industry collaboration. The region benefits from strong R&D investment and established regulatory frameworks. Leading universities, research institutions, and biotech companies fuel advancements. Entrepreneurship and venture capital fortify commercialization of novel biotech solutions. North America’s historic achievements in genomics, pharmaceuticals, and medical devices maintain its influential role in shaping the global biotechnology landscape, driving growth and innovation.

Recent Developments & News

• May 2025: Biogen and City Therapeutics partnered to develop RNA interference (RNAi) therapies targeting central nervous system diseases, combining City Therapeutics' RNAi platform with Biogen’s delivery technology.

• May 2025: Biocon Biologics, via Yoshindo Inc., launched Ustekinumab BS Subcutaneous Injection [YD] in Japan, a biosimilar targeting psoriasis vulgaris and psoriatic arthritis, expanding Biocon’s biosimilar presence.

• April 2025: Novartis planned a USD 23 Billion investment over five years in US biotech and pharma, adding seven facilities and 5,000 jobs to enhance biologics drug substances and packaging.

• April 2025: Amgen invested USD 900 Million to expand its Ohio biologics manufacturing site with total spend exceeding USD 1.4 Billion and jobs reaching 750.

• March 2025: Roche opened the Roche Genentech Innovation Center Boston, focusing on cardiovascular, renal, and metabolism R&D and AI-driven drug discovery, with plans to employ up to 500 people.

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

Get Custom Market Research Report for Your Business:

https://www.imarcgroup.com/request?type=report&id=5785&flag=E

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us

IMARC Group,

134 N 4th St. Brooklyn, NY 11249, USA,

Email: sales@imarcgroup.com,

Tel No: (D) +91 120 433 0800,

United States: +1-201971-6302