Global Biotechnology Market Size to Reach USD 5,036.46 Bn by 2034, Growing at 12.5% CAGR, Says Healthcare Experts

The global biotechnology market size is calculated at USD 1744.83 billion in 2025 and is expected to reach around USD 5036.46 billion by 2034, growing at a CAGR of 12.5% for the forecasted period.

/EIN News/ -- Ottawa, April 10, 2025 (GLOBE NEWSWIRE) -- The global biotechnology market size was valued at USD 1,550.96 billion in 2024 and is predicted to hit around USD 5036.46 billion by 2034, a study published by Towards Healthcare a sister firm of Precedence Research.

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Biotechnology Market Overview

The word biotechnology is an amalgamation of two words, biology and technology, to develop novel products, methods, and processes to improve human health and society. It is a field that transforms different sectors, such as agriculture, healthcare, food, and the environment. In healthcare, it leads to the development of innovative solutions for diagnosing, preventing, treating, and monitoring diseases. Some common products derived using biotechnology include cell and gene therapy, vaccines, and recombinant products.

Numerous factors govern market growth, such as the rising prevalence of chronic disorders resulting from the increasing geriatric population. The increasing investments and collaborations among industry players or between academia and industry boost the market. Technological advancements lead to the latest innovations in products and processes, potentiating market growth. Several government organizations have launched initiatives to support biotechnology research and development.

Biotechnology Market Trends

• Rising Demand for Biologicals: The demand for biologics is rising, owing to their superior benefits over conventional small molecules. They provide targeted action with reduced systemic side effects. These therapeutics include vaccines, blood products, monoclonal antibodies, etc. Favorable regulatory frameworks support new product launches.
• Need for Personalized Medicine: The rapidly changing demographics have led to the development of personalized medicine. Personalized medicines are derived based on an individual’s genetic profile, enabling proactive decisions for preventing or treating a disease. They help to improve patient outcomes and enhance treatment effectiveness.
• Growing Research and Development: The rising prevalence of chronic disorders leads to growing research and development activities. Biotechnology research involves the development of personalized medicines, cancer therapeutics, and vaccines. Advancements in molecular biology and sequencing techniques transform the entire research process.
  

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Limitations & Challenges in the Biotechnology Market

• Regulatory Challenges: Several regulatory bodies have different regulatory bodies for approving a product. Companies must adapt to evolving regulatory guidelines to ensure safety and efficacy. Compliance must be made to prepare documentation based on current guidelines.
• Ethical Issues: The increasing development of personalized medicines and gene editing techniques raises ethical concerns. Failure to address ethical issues may lead to regulatory restrictions, public backlash, or loss of trust.
• Safety Concerns: The major challenge faced by biotech researchers and other professionals is safety concerns. They conduct dangerous experiments, leading to enhanced exposure to harmful chemicals. This causes damage to people, necessitating the use of personal protective equipment (PPE).
  

Artificial Intelligence Revolutionizes the Market

Artificial intelligence (AI) in life sciences can speed up various processes from research to manufacturing and distribution. It accelerates the drug discovery and development process, leading to more potent compounds with reduced side effects. AI and machine learning (ML) algorithms enable faster data analysis, pattern recognition, and integration of extensive databases, fostering the biotechnology market. AI pushes the boundaries and creates more possibilities for disease detection and prediction. AI and ML analyze vast amounts of patient data, predicting the potential of disease development in the future. Additionally, AI can streamline the manufacturing process of biotech products, enhancing reproducibility and efficiency. Large-scale manufacturing of certain biologicals is difficult due to stability and scalability issues. AI and ML can overcome potential challenges, leading to a stable and pure product.

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Regional Analysis

Technological Advancements Dominated North America

North America dominated the global market in 2024. Advancements in technology and state-of-the-art research and development facilities drive the market. Countries like the U.S. and Canada are at the forefront of strengthening the biotech sector in North America. However, Baltimore, Louisville, Ottawa, Madison, Columbus, Phoenix, Brooklyn, Indianapolis, Pittsburgh, and Bloomington are emerging as biotech hubs. The presence of key players and increasing investments are other factors that contribute to biotechnology market growth. The growing demand for personalized treatment and increasing healthcare expenditure also govern market growth.

United States: Favorable government support transforms the biotech sector in the U.S. Government agencies like USDA, EPA, and FDA regulate biotech products for agriculture, environment, and healthcare purposes, respectively. There were 2,435 biotech companies in the U.S. as of 2024. It is reported that the U.S. bioscience industry generated $3.2 trillion in overall output in 2023.

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Canada: The increasing number of biotech companies boosts the market. Ottawa alone hosts more than 130 biotech companies and employs a skilled force of 6,000 professionals. Health Canada regulates the approval of biologics in Canada. As of March 2025, a total of 67 biosimilars are approved by Health Canada.

Suitable Manufacturing Infrastructure Drives Asia-Pacific

Asia-Pacific is projected to host the fastest-growing market in the coming years. The rising prevalence of chronic disorders and growing awareness of advanced biotech products and processes drive the biotechnology market. The availability of suitable manufacturing infrastructure encourages foreign players to set up their manufacturing facilities in Asia-Pacific countries. The increasing number of biotech startups also contributes to the market. Favorable government support and increasing investments and collaborations fuel market growth. The growing research and development efforts and increasing patents also positively influence market growth.

• China: China is rapidly emerging as a leading biotech country owing to the presence of the majority of biotech manufacturing capabilities. It aims to transfer economic opportunity away from the U.S. and increase America’s dependency on China. China’s NMPA launched the highest number of novel biologicals globally in 2023, amounting to 59.
• India: The Indian government recently launched the BIO-E3 (Biotechnology for Economy, Employment, and Environment) Policy to reinforce the country’s economy, employment landscape, and environmental sustainability over the coming years. In 2024, the Indian government sanctioned Rs 1,000 crores to accelerate innovation in biotechnology.
• Japan: Japan is one of the emerging biotechnology sectors in the Asia-Pacific. In 2023, around 1360 patents were filed in the biotechnology sector. The Japanese government launched the “Strengthening Drug Discovery Venture Ecosystem Project” with a budget of 300 billion yen.
  

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Segmental Outlook

Technology Insights

The DNA sequencing segment held a dominant presence in the biotechnology market in 2024. DNA sequencing is a technique used to determine the exact sequence of bases in a DNA molecule. This technique is used to determine the genetic structure, enabling researchers to monitor disease progression. Technological advancements led to the development of next-generation sequencing, an advanced technique used to discover genes involved in disease and to better understand genomic structure and diversity among species. Several government organizations have released initiatives for screening and early diagnosis of chronic disorders, facilitating the use of DNA sequencing methods.

The nanobiotechnology segment is predicted to witness significant growth in the biotechnology market over the forecast period. Nanobiotechnology involves developing nanomedicines for disease detection and treatment. Advancements in nanobiotechnology have increased the demand for nanomaterials in drug delivery and disease diagnosis. The growing research and development activities lead to the production of advanced drug delivery systems such as liposomes. Nano-robots are innovative solutions of nanobiotechnology that can penetrate to inaccessible regions within the body to conduct minimally invasive surgeries. Healthcare professionals can control the drug release from nano-robots.

Application Insights

The bio-pharmacy segment held the largest share of the biotechnology market in 2024 and is projected to expand rapidly in the market in the coming years. The incidences and prevalence of acute and chronic disorders favor the development of biopharmaceuticals. Biopharmaceuticals include gene therapy, vaccines, insulin, antibodies, nutrient supplementation, and regenerative medicines. The growing demand for early diagnosis and personalized treatment augment the segment’s growth. Advances in genomic and proteomic research also govern the segment’s growth. Numerous biotech companies launch novel biopharmaceuticals to expand their product pipeline and strengthen their market position.

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Recent Breakthroughs in the Biotechnology Market

• In March 2025, Cellogen Therapeutics, an Indian biotech startup, announced that it received regulatory approval for its patented product, Bi-Specific 3^rd Generation Chimeric Antigen Receptor T (CAR T) cells. These cells are the world’s first indigenously developed products. The bispecific platform acts on two tumor-specific antigens simultaneously, marking a significant advancement in cancer immunotherapy.
• In December 2024, Biocon Biologics announced that it received the U.S. FDA approval to launch the biosimilar version of Stelara (Ustekinumab) for the treatment of autoimmune disorders, such as Crohn’s disease, ulcerative colitis, and plaque psoriasis. The company launched the biosimilar Yesintek on February 22, 2025. Stelara is the top-selling drug of Janssen, with sales of $7 billion in the U.S. in 2023.

Biotechnology Market Companies

• Lonza
• AstraZeneca
• Pfizer Inc.
• Gilead Sciences Inc.
• F. Hoffmann-La Roche Ltd.
• Biogen
• CELGENE Corporation
• Sanofi
• Abbott
• Novartis AG

Segments Covered in the Report

By Technology

• DNA Sequencing
• Nanobiotechnology
• Fermentation
• Tissue Engineering & Regeneration
• Polymerase Chain Reaction (PCR) Technology
• Chromatography
• Cell-based Assay
• Others

By Application

• Bio-pharmacy
• Bio-industries
• Bio-services
• Bio-agriculture
• Bio-informatics
  

By Region

• North America
  • US
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy 
  • Spain
  • Sweden 
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait
    

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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.

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