U.S. Biotechnology Market Global Trends And Revenue Growth Up To 2030

U.S. Biotechnology Market Summary

The U.S. biotechnology market size was estimated at USD 552.40 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2030. One of the key factors driving this growth is the strong support provided by the government. Efforts to modernize regulatory frameworks, improve approval processes and reimbursement structures, and standardize clinical studies have laid a foundation for sustained industry expansion. Institutions such as the National Science Foundation (NSF) and the Synthetic Biology Engineering Research Center (SynBERC) conduct consistent evaluations of synthetic biology, which significantly enhances the industry's efficiency and credibility.

Additionally, the biotechnology industry is witnessing increased revenue generation from applications in personalized medicine and the development of orphan drug formulations. These applications have led to the emergence of numerous innovative biotech startups, contributing to a competitive and vibrant industry landscape. Personalized medicine, in particular, is gaining traction due to its potential to deliver targeted therapies with greater efficacy, reducing side effects and enhancing patient outcomes. The orphan drug segment is also rapidly evolving, driven by regulatory incentives and growing attention toward rare diseases that were previously underserved.

Key Market Trends & Insights

• In 2023, the United States accounted for more than 35.6% of the global biotechnology market, solidifying its leadership in the sector. The growing need for agricultural products such as wheat, rice, and beans, prompted by population growth, has intensified the demand for biotechnology-based solutions. Scientists and industry professionals are increasingly relying on advanced agricultural technologies through intensive research and development efforts. These innovations address major agricultural challenges including pest infestations, limited arable land, and water shortages. Strategic investments, such as Loopworm’s initiatives and the USD 101 million in regenerative agriculture by Unilever and others, further fuel market expansion.
• The market’s DNA sequencing segment held the highest revenue share of 17.52% in 2023. This dominance is largely attributed to declining costs of sequencing and the increasing integration of advanced DNA sequencing technologies. DNA sequencing is instrumental in developing personalized cancer treatments by accurately identifying genetic mutations. It is widely used in research to compare extensive DNA regions across different species, providing valuable insight into genetics, evolution, and disease mechanisms. The broad application and cost-effectiveness of DNA sequencing are key factors contributing to its continued adoption across healthcare and academic research domains.
• The healthcare sector led the biotechnology market in 2023, accounting for the largest revenue share of 44.3%. Biotechnology is revolutionizing healthcare by enabling advancements in genomics, molecular biology, tissue and cellular engineering, and bio-imaging. Moreover, it supports the development of innovative drug discovery and targeted drug delivery platforms, which are redefining modern treatment paradigms. These technological breakthroughs are expanding both diagnostic and therapeutic capabilities, allowing for earlier detection of diseases and more effective patient-specific treatment plans, thereby transforming patient care and outcomes on a broad scale.
• Among the fastest-growing segments, bioinformatics is projected to register the highest CAGR of 17.1% during the forecast period. This growth is fueled by the convergence of interdisciplinary fields such as physics, mathematics, and pharmaceuticals. The rapid advancement of genomics, proteomics, and other emerging areas of biotechnology has also spurred demand for sophisticated data analysis tools. Bioinformatics supports the interpretation of complex biological data, facilitating breakthroughs in research, diagnostics, and personalized medicine. Its growing importance reflects the increasing need for computational tools to handle vast amounts of biological information efficiently and accurately.

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Market Size & Forecast

• 2023 Market Size: USD 552.40 billion
• 2030 Projected Market Size: USD 1.25 trillion
• CAGR (2024 - 2030): 12.4%

Key Companies & Market Share Insights

The biotechnology sector is witnessing a trend where companies form alliances through various strategic initiatives such as business collaborations, partnerships, and development agreements. The primary motivation behind these initiatives is the collective development of innovative therapeutics for improved results and cost reduction. The market's growth is largely due to the launch of new and innovative products, contracts, acquisitions, technological advancements, and wide-ranging applicability. For instance, in January 2021, Sartorius Stedim Biotech acquired the chromatography process equipment division of Novasep. This division's chromatography products portfolio includes resin-based batch systems and advanced chromatography systems for various applications, including oligonucleotides, small molecules, insulin, and peptides.

Key Players

• AstraZeneca
• Gilead Sciences, Inc.
• Bristol-Myers Squibb
• Sanofi
• Biogen
• Abbott Laboratories
• Pfizer, Inc.
• Amgen Inc.
• Novo Nordisk A/S
• Merck KGaA
• Johnson & Johnson Services, Inc.
• Novartis AG
• F. Hoffmann-La Roche Ltd.
• Lonza

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Conclusion

In conclusion, the U.S. biotechnology market is set for robust expansion, fueled by strong government support, rising demand for personalized medicine, and technological innovations. Leadership in agricultural biotechnology, growing DNA sequencing applications, and advancements in healthcare diagnostics and therapeutics underscore this momentum. Investments in regenerative agriculture and bioinformatics further strengthen the market's foundation. With the U.S. accounting for over one-third of global share, the nation remains a driving force in biotech innovation. As the sector continues to evolve, the integration of emerging disciplines will unlock new possibilities across health, agriculture, and life sciences, reinforcing biotechnology's pivotal role in shaping future solutions.