Biotechnology Market to Reach USD 824.31 Billion by 2030, Growing at 7.8% CAGR

According to a new report from Intel Market Research, Global Biotechnology market was valued at USD 484.85 billion in 2024 and is projected to reach USD 824.31 billion by 2030, growing at a CAGR of 7.8% during the forecast period.

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This growth is driven by substantial public research funding, rapid technological innovation, and expanding applications across healthcare, agriculture, and industrial sectors.

What is Biotechnology?

Biotechnology refers to the utilization of biological systems, living organisms, or derivatives to develop or modify products and processes for specific use in health, agriculture, industry, and environmental management. This field integrates disciplines like molecular biology, genetics, microbiology, biochemistry, and bioinformatics to drive innovation across sectors.

The global biotechnology market is experiencing strong growth, driven by continuous advancements in genetic engineering, molecular biology, and personalized medicine. Innovations in areas such as gene therapy, synthetic biology, and bioinformatics are reshaping how diseases are diagnosed and treated, while also transforming agricultural practices and industrial processes. The market benefits from expanding research and development activities, increasing collaboration between public and private sectors, and the integration of digital tools like artificial intelligence in drug discovery and diagnostics.

Key Market Drivers

1. Substantial Public Research Funding

Vast government investment in biotechnology research is a critical catalyst for market expansion. In the United States, the National Institutes of Health (NIH) allocated approximately $47 billion in 2025, with over 80% awarded to external institutions, fueling innovation across universities, biotech startups, and medical centers. This funding supports early-stage research, infrastructure, and translational science, often serving as the foundation for future private investment and commercialization.

For instance, the U.S. National Institutes of Health (NIH) consistently allocates over $45 billion annually to biomedical research, a significant portion of which supports biotechnology-driven studies in genomics, cancer therapies, vaccine development, and regenerative medicine. In Europe, the Horizon Europe program, led by the European Commission, earmarked €95.5 billion (2021–2027) for science and innovation, with biotechnology listed as a priority sector. Meanwhile, India’s Department of Biotechnology (DBT) runs schemes like BIRAC (Biotechnology Industry Research Assistance Council), which funds startups and academia-industry partnerships.

2. Rapid Market Expansion and Technological Innovation

The biotechnology sector is undergoing significant transformation, marked by the convergence of life sciences with cutting-edge technologies such as artificial intelligence, machine learning, and data analytics. These tools are accelerating discoveries in areas like gene editing, biologics, synthetic biology, and personalized medicine. Companies are increasingly leveraging AI-powered platforms to streamline drug discovery, reduce development timelines, and enhance precision in diagnostics and treatment.

The surge in innovation is also accompanied by rising demand across various sectors including healthcare, agriculture, and industrial biotechnology. In healthcare, biotech is reshaping therapeutic approaches through cell and gene therapies, while in agriculture, it is enabling the development of climate-resilient and high-yield crops. Industrial applications are advancing with bio-based manufacturing processes that offer more sustainable alternatives to traditional methods.

Market Challenges

• High Research and Development (R&D) Costs: Biotechnology development demands substantial investment in research, infrastructure, clinical trials, and regulatory compliance. The process of developing a single biologic or gene therapy can take over a decade and cost billions.

• Regulatory and Ethical Challenges: Approvals for biotech drugs or therapies can be prolonged due to safety concerns, evolving standards, and region-specific regulatory hurdles.

• Supply Chain Vulnerabilities and Manufacturing Complexity: Biotech products, especially biologics and cell therapies, require highly specialized manufacturing processes that are sensitive to disruptions.

Opportunities Ahead

The global biotechnology landscape presents numerous growth opportunities, particularly in:

• Personalized and Precision Medicine: Biotechnology enables treatments tailored to an individual’s genetic makeup, lifestyle, and environment.

• Expansion into Emerging Markets: Asia-Pacific, Latin America, and parts of Africa are investing heavily in biotechnology infrastructure and research capabilities.

• Sustainable Solutions: Growing focus on bio-based manufacturing, biofuels, and environmental biotechnology aligns with global sustainability goals.

Recent strategic moves include Eli Lilly’s agreement to acquire CRISPR gene-editing biotech Verve Therapeutics for up to $1.3 billion in June 2025, and Johnson & Johnson’s acquisition of Intra-Cellular Therapies for $14.6 billion in January 2025, marking significant investments in cardiovascular and neuroscience applications.

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Regional Market Insights

• North America: Leads global market share due to mature infrastructure, strong regulatory support, and significant venture capital investment.

• Europe: Strong activity in biologics, regenerative medicine, and green biotechnology, supported by programs like Horizon Europe.

• Asia-Pacific: Fastest-growing region driven by rising healthcare demands, strong government support, and expanding middle class.

• Latin America: Gradually expanding market with focus on agricultural biotechnology and biosimilars.

• Middle East & Africa: Emerging markets showing momentum through economic diversification plans and international collaborations.

Market Segmentation

By Technology

• DNA Sequencing

• Cell-Based Assays

• CRISPR and Gene Editing

• Fermentation Technology

• Nanobiotechnology

• Tissue Engineering & Regeneration

• PCR Technology

• Recombinant Technology

• Chromatography & Spectroscopy

• Others

By Application

• Healthcare & Medical Biotechnology

  • Drug Discovery & Development

  • Vaccine Development

  • Gene Therapy

  • Personalized Medicine

• Agricultural Biotechnology

  • Genetically Modified Crops

  • Bio-pesticides and Bio-fertilizers

  • Animal Biotechnology

• Industrial Biotechnology

  • Biofuels

  • Bioplastics

  • Enzymes & Biocatalysts

• Environmental Biotechnology

  • Waste Treatment

  • Bioremediation

  • Pollution Monitoring

• Food & Beverage Biotechnology

  • Fermentation Processes

  • Food Safety Testing

  • Nutraceuticals

By End-User

• Pharmaceutical & Biotech Companies

• Academic & Research Institutes

• Contract Research Organizations (CROs)

• Hospitals & Diagnostic Labs

• Agricultural & Environmental Organizations

• Food & Beverage Companies

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

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Competitive Landscape

The global biotechnology market is highly competitive and characterized by a dynamic mix of established pharmaceutical giants, specialized biotech firms, and emerging startups. Major players include:

• Johnson & Johnson

• Roche

• Pfizer

• Merck

• Sanofi

• AstraZeneca

• Gilead Sciences

• Biogen

• Amgen

• Abbott

• Novo Nordisk

• Novartis

• Lonza

• BioNTech

• Moderna

• Regeneron

• Vertex Pharmaceuticals

• Jazz Pharmaceuticals

• Incyte

• BioMarin

• Genmab

• Novavax

Report Deliverables

• Global and regional market forecasts from 2023 to 2030

• Strategic insights into pipeline developments, clinical trials, and regulatory approvals

• Market share analysis and SWOT assessments

• Pricing trends and investment dynamics

• Comprehensive segmentation by technology, application, end-user, and geography

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About Intel Market Research

Intel Market Research is a leading provider of strategic intelligence, offering actionable insights in biotechnology, pharmaceuticals, and healthcare infrastructure. Our research capabilities include:

• Real-time competitive benchmarking

• Global clinical trial pipeline monitoring

• Country-specific regulatory and pricing analysis

• Over 500+ healthcare reports annually

Trusted by Fortune 500 companies, our insights empower decision-makers to drive innovation with confidence.

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