Biotechnology Market Snapshot

“The Biotechnology Market to grow from USD 1404.4 Billion in 2023 to USD 3534.56 billion by 2030, at a CAGR of 12.6%.”

Biotechnology involves using biological systems or living beings to develop products, including biopharmaceuticals, or biotech medications or biologics. Biotech medications are complex due to their chemical structure and production costs. Small molecule medications are less complex.

Biopharmaceuticals now account for 40% of global drug sales, while traditional pharmaceuticals still account for over 90%. Several smaller biotech companies emerged during the COVID-19 pandemic through vaccine research and development.

Biotechnology has significantly impacted various societal domains, including medicine, agriculture, and environmental research. Genetic engineering allows scientists to alter organisms' genetic makeup for desired results.

Examples include inserting genes, creating new features, or altering existing ones. Other key biotechnology techniques include tissue culture for lab growth and fermentation for producing goods like beer, wine, and cheese.

Biotechnology has revolutionized various industries, producing life-saving medications, biofuels, genetically modified crops, and new materials. It also tackles environmental issues through biodegradable polymers and microbes for pollution cleanup.

Despite its potential to improve global quality of life, biotechnology also poses ethical and societal challenges, such as genetic modification and intellectual property rights. As a result, the use and implementation of biotechnology in various sectors are subject to constant debate and regulation.

Biotechnology involves manipulating living creatures for human purposes, dating back to animal domestication and plant cultivation. Modern applications include genetic engineering, cell and tissue culture technology, and genetic engineering.

The American Chemical Society defines biotechnology as the use of biological creatures, systems, or processes by businesses to learn about life science and improve the value of materials and organisms like medications, crops, and animals.

Biotechnology, as defined by the European Federation of Biotechnology, involves the integration of natural science and organisms, cells, and molecular counterparts for products and services, based on basic biological sciences like molecular biology, biochemistry, cell biology, embryology, genetics, and microbiology.

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Key Benefits

Biotechnology offers tangible benefits, but concerns arise about potential environmental, health, and ethical issues. Advantages of BIO include:

• Recombinant DNA techniques significantly reduce CO2 emissions by 52%, optimize water use, and eliminate waste and chemical processes.
• This enhances medical diagnostics, reduces infection rates, minimizes drug side effects, and fosters development in impoverished nations.
• The policy promotes sustainable agriculture, provides nutritious, toxin-free, and allergen-free food, and limits the use of pesticides and chemicals.
• Biotechnology aims to increase land planting and food production, aiding in poverty reduction and hunger reduction.

Segment Analysis

Segment by Technology

The global biotechnology market comprises various technology segments, including nano-biotechnology, tissue engineering, DNA sequencing, cell-based assays, fermentation, PCR technology, and chromatography.

DNA sequencing technology, which led the market in 2022 due to reduced costs and increased adoption of advanced techniques, has the largest market share, largely due to government funding for genetic research.

In May 2021, the University of Pittsburgh Graduate School of Public Health and Washington University School of Medicine received a USD 10.7 million NIH grant to study Alzheimer's disease genetics.

Theranostics nanoparticles have gained popularity for their low toxicity, smaller size, and chemical flexibility, which have improved the effectiveness of standard generic drug delivery methods. Tissue engineering and regenerative medicine remain significant due to increasing healthcare spending, public and private expenditures, and the presence of numerous established and emerging enterprises.

Growth Drivers

The biotechnology market is experiencing growth due to the rise in genetic disorders and target diseases, technological advancements in PCR, portable instruments, robotics integration, and increased research grants and investments.

Over the past five years, genomic analytic tools have been significantly used in diagnosing major infectious diseases like HIV, malaria, and tuberculosis, as well as genetic abnormalities.

The increasing prevalence of these diseases and the effectiveness of PCR analysis in identifying and assessing disease-causing bacteria are expected to boost the demand for clinical diagnostic tests and drive the biotechnology industry's growth.

Emerging nations are expected to experience significant development due to the rise in infectious and chronic diseases, increased funding for genomic techniques like PCR and cell-based assays, reduced procedural costs for illness diagnosis, increased healthcare spending, and improved healthcare infrastructure, contributing to the growth of the biotechnology market.

Emerging nations' rapid facility growth and upgrading, coupled with the development of healthcare infrastructure, is increasing demand for clinical diagnostic procedures in diagnostic laboratories, thereby boosting biotechnologies' market share and sales growth.

Restraints

The biotechnology industry faces challenges such as regulatory oversight, genetic information risk, low productivity in research and development, high R&D costs, and patent expiration, which expose it to competition from biosimilars, similar to the pharmaceutical industry. These obstacles can hinder the development and commercialization of biotechnology-related goods and services.

Competitive Landscape of the Biotechnology Market Analysis

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

New Developments in Biotechnology Market

24 Jun 2022, Lonza and Adva Biotechnology Ltd. Agree to Expand Availability and Use of Automated Bioreactors with License to Lonza’s Patents.

Effective May 15, 2022, Lonza and Adva Biotechnology Ltd. (“Adva”)  have entered into a license agreement that will provide Adva access to core intellectual property enabling the expansion of automated bioreactors globally. Through the agreement, Lonza grants Adva a non-exclusive license to certain patents in its portfolio directed to smart automation and bioreactor control. Lonza and Adva have dismissed their ongoing litigation in the United States.

Previously, on January 21, 2022, in the United States District Court for the District of Maryland, Lonza obtained a preliminary injunction against Adva, preventing Adva from importing and offering their ADVA X3® device in the United States pending resolution of the case. With this agreement, this litigation and the injunction are now dismissed.

02.11.2023- AstraZeneca Invests $245 Million in French Biotech Cellectis

Anglo-Swedish drugmaker AstraZeneca entered into a collaboration and investment agreement with Cellectis, a French clinical-stage biotechnology company, to accelerate the development of therapeutics across oncology, immunology and rare diseases.

AstraZeneca will use Cellectis’ proprietary gene editing technologies and manufacturing capabilities, to design novel cell and gene therapy products. As part of the agreement, AstraZeneca has been granted exclusive rights to 25 genetic targets, from which up to ten candidate products could be explored for development.

October 11 2023- Pfizer’s Biotechnology Campus, Clondalkin, Ireland

Pfizer will invest €1.2bn ($1.26bn) to expand its Biotechnology Campus in Grange Castle by 2027.

Pfizer will now invest more than €1.2bn ($1.26bn) to build a new facility in the same site premises to double the biological drug substance manufacturing capacity of the campus. The expansion will increase the manufacturing and laboratory capacity and add new technologies to the campus. It will extend Pfizer’s capabilities for approved and pipeline drugs for oncology, immunology, rare diseases, internal medicines and inflammation.

Construction work for the expansion is expected to begin in 2024. To be completed in 2027, it will generate between 400 and 500 jobs.

In Aug 2022, Gilead Sciences, Inc. have entered into a definitive agreement and will acquire MiroBio. The acquisition will provide Gilead with MiroBio’s proprietary discovery platform and entire portfolio of immune inhibitory receptor agonists. MiroBio’s lead investigational antibody, MB272, is a selective agonist of immune inhibitory receptor B- and T-Lymphocyte Attenuator (BTLA) and has entered Phase 1 clinical trials, with the first patient dosed earlier this week. MB272 targets T, B and dendritic cells to inhibit or blunt activation and suppress an inflammatory immune response.

Regional Analysis of Global Biotechnology Industry

The US and Europe's biotech industry regions, including the Bay Area, Los Angeles, San Diego, and the U.S. Northeast, are the top hubs for biotech medicines, accounting for 436 billion dollars in global sales. These regions are home to the largest biotech companies and many promising startups, contributing to the global concentration of knowledge in life sciences and biotech.

In 2022, the North American region dominated the global biotechnology market, driven by strong competition, advanced research and development, and high healthcare costs. The region's increasing number of drug approvals and the presence of significant rival’s further fuel market growth.

The Asia-Pacific biotechnology market is expected to grow by over 12.7%, supported by favorable government legislation, clinical trial services, and improved healthcare infrastructure, as well as global market giants collaborating with regional businesses to accelerate its expansion.

Segments Covered in the Biotechnology Market Report

Biotechnology Market Segment by Technology

• Nano-biotechnology
• Tissue Engineering

Biotechnology Market Segment by Application

• Health
• Food & Agriculture

Biotechnology Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What does biotechnology do?

Biotechnology is a technology that uses biological systems, living organisms, or parts of them to create various products, such as brewing and baking bread, which utilize yeast to produce the desired product.

What is the expected growth rate of the Biotechnology market over the next 7 years?

The Biotechnology Market to grow from USD 1404.4 Billion in 2023 to USD 3534.56 billion by 2030, at a CAGR of 12.6%.

Who are the major players in the Biotechnology market and what is their market share?

Lonza, AstraZeneca, Pfizer Inc., Gilead Sciences Inc., F. Hoffmann-La Roche Ltd., Biogen, CELGENE Corporation, Sanofi, Abbott, Novartis AG, are prominent players operating and dominating in the market.

What are the advantages and disadvantages of Biotechnology?

Biotechnology offers numerous benefits, including reducing environmental pollution and enhancing medical and industrial processes, but mismanagement can lead to various problems when used improperly.

Which geographical areas dominate the worldwide market for Biotechnology?

North America region are emerging as the top regional markets for Biotechnology solutions.