U.S. Biotechnology Industry is Rising Rapidly Up to USD 1,794.11 Bn by 2033 - Exclusive Report by Nova One Advisor.

According to latest study, the U.S. biotechnology market size is calculated at USD 621.55 billion for 2024 and is expected to reach around USD 1,794.11 billion by 2033, growing at a CAGR of 12.5% from 2024 to 2033. the burgeoning capabilities of modern biotechnology have become a major catalyst for growth in the U.S. biotechnology market.

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U.S. Biotechnology Market Overview

The U.S. biotechnology market is experiencing rapid growth, driven by its versatile applications in various sectors such as healthcare, agriculture, energy, and environmental protection. Biotechnology involves the manipulation of living organisms or their components to develop vaccines, medicines, enhance energy efficiency, and ensure food safety. Key areas of application include drug development, human and animal nutrition, agricultural improvements, and environmental conservation. Biotechnologists play a crucial role in advancing these applications by studying the genetic, chemical, and physical characteristics of cells, tissues, and organisms to develop innovative technologies and products that enhance human life.

The American Biotechnology Association, Inc. is dedicated to supporting underrepresented minority (URM) students in biotechnology by providing exposure, career development opportunities, and continuing education. Their aim is to create diverse career pathways within the biotech industry. As the world moves towards achieving net-zero greenhouse gas emissions by 2050, biotechnology is expected to play a pivotal role in this transformation. Major advances in bioscience and biotechnology will be necessary across various economic sectors to mitigate the effects of climate change. The U.S. Department of Agriculture (USDA) is poised to drive this advancement by providing leadership and scientific research to ensure American farmers, foresters, and businesses remain globally competitive while producing innovative products to support the bioeconomy.

Key Takeaways:

• DNA sequencing dominated this market and held the highest revenue market share of 18% in 2023.
• The others’ segment is anticipated to grow at the fastest CAGR of 28.1% during the forecast period.
• The health segment dominated the market and accounted for the largest revenue market share of 44.13% in 2023.
• Bioinformatics is expected to witness the fastest growth, with a CAGR of 17.2% during the forecast period.

Biotechnology Market in the global 2024 to 2033

The global biotechnology market size was estimated at USD 1.54 Trillion in 2023 and is projected to hit around USD 5.68 Trillion by 2033, growing at a CAGR of 13.95% during the forecast period from 2024 to 2033.

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U.S. Biotechnology Market Dynamics

Driver

Supply Chain Resilience and Economic Growth

Biotechnology emerges as a key driver in mitigating supply chain disruptions by leveraging synthetic biology to replace existing production processes and diversify production pathways. Through biomanufacturing breakthroughs, such as the production of active pharmaceutical ingredients (APIs), opportunities arise for creating sustainable domestic alternatives and reducing reliance on foreign sources. This transformative technology extends to various sectors, including food, fuels, materials, and chemicals, enabling producers to adapt swiftly to disruptions and foster economic growth. However, to fully harness the potential of biotechnology and biomanufacturing, it is essential to prioritize biosafety and biosecurity in both research and implementation strategies, ensuring sustained market growth and supply chain resilience.

• In January 2022, GSK and Vir Biotechnology announced a United States government agreement to purchase additional supply of sotrovimab, authorized for the early treatment of COVID-19.

 Restraints

Financial Challenges

The high costs associated with biotech production, research and development, and FDA approval processes pose significant restraints on the growth of the U.S. biotechnology market. The inherent risks involved, including failed development, approval, or commercialization, can jeopardize both fledgling startups and established companies. Consequently, securing financing becomes a daunting task for private biotechs, as investors are wary of the substantial investment required and the potential for failure. This risk aversion limits the availability of capital and hampers the expansion of the biotechnology market. Despite the industry's immense potential, addressing these challenges is imperative to unlock its full growth prospects and foster innovation in the biotech sector.

 Opportunity

Rising Emphasis Personalized Medicine's

The rise of personalized medicine presents a significant opportunity for the U.S. biotechnology market. Reduced time and cost have made personalized biotechnology increasingly accessible, empowering medical professionals to analyze patients' genetics and identify medical risks more efficiently. By leveraging genetic sequencing, personalized medicine enables the development of tailor-made health solutions, leading to more effective treatments and therapies. Furthermore, utilizing data from screened clinical trials allows medical professionals to create individualized treatment plans, optimizing patient care. This shift towards personalized therapy not only addresses medical issues at their source—the patient's molecular and genetic profile—but also fosters innovation and growth within the biotechnology sector.

By Technology

In the biotechnology market, DNA sequencing dominated this market and held the highest revenue market share of 18% in 2023 due to DNA sequencing is a fundamental laboratory technique used to determine the precise sequence of nucleotides or bases within a DNA molecule. This process is crucial for deciphering the functionality of genes and other components of the genome. The evolution of DNA sequencing technology has resulted in the availability of multiple methods, each with unique characteristics. Moreover, ongoing genomics research continually introduces new sequencing methodologies, highlighting the dynamic nature of this field. DNA sequencing has revolutionized access to genomic information, enabling researchers and practitioners to delve deeper into the complexities of genomes. As a cornerstone technology in biotechnology, DNA sequencing plays a pivotal role in driving innovation and discovery across various applications, fueling further advancements in the industry.

In the U.S. biotechnology market, the other’s segment is poised for rapid growth during the forecast period. This segment encompasses various applications, notably fermentation in food and environmental contexts. In the United States, traditional fermentation plays a multifaceted role, enhancing food flavor, digestibility, preservation, and nutritional value, biotechnological tools aimed at environmental sustainability are gaining traction. These processes leverage bioproducts and microorganisms to reduce pollution, produce eco-friendly goods, and maintain the natural environment, benefiting both humans and ecosystem health. As market increasingly prioritize sustainability and consumers demand eco-conscious products, the growth potential for fermentation and environmental biotechnologies is substantial.

By Application

In the U.S. biotechnology market, the health segment dominated the market and accounted for the largest revenue market share of 44.13% in 2023. Biotechnology's applications in medicine are diverse and impactful. Gene therapy, in particular, emerges as a promising solution for genetic diseases, offering the potential to correct defective or inactive genes by introducing normal genes into patients using vectors like retroviruses, adenoviruses, and herpes simplex viruses. Another crucial application within the health sector is medical diagnosis. Biotechnology plays a pivotal role in early disease detection and understanding the underlying pathophysiology, which are essential for effective treatment. Biotechnology in medical diagnostics, healthcare professionals can achieve timely and accurate diagnoses, enabling prompt intervention and improved patient outcomes. The integration of biotechnology with artificial intelligence (AI) yields unprecedented possibilities. This convergence of cutting-edge technologies unlocks novel solutions with unparalleled potential to address healthcare challenges. As biotechnology continues to advance and synergize with AI, the healthcare industry can anticipate transformative innovations that enhance patient care, drive medical advances, and shape the future of healthcare delivery.

In the biotechnology market, bioinformatics is poised to experience the fastest growth during the forecast period. Bioinformatics plays a crucial role by providing essential tools and techniques for research across various biological sciences disciplines. As the demand for bioinformatics tools and expertise continues to rise, businesses in the biotechnology sector have an opportunity to capitalize on this growth by investing in bioinformatics technologies and talent. By leveraging bioinformatics solutions, organizations can enhance their research capabilities, drive innovation, and achieve meaningful insights that propel advancements in biological sciences.

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U.S. Biotechnology Market Recent Developments

• In February 2024, Mareana launched Connect CMC for Pharma and Biotech Manufacturing.
• In October 2023, Amgen completed its acquisition of Horizon Therapeutics plc for $116.50 per share in cash, representing a transaction equity value of approximately $27.8 billion.
• In September 2023, Biogen completed its acquisition of Reata Pharmaceuticals.

Key U.S. Biotechnology Companies:

• 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

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Biotechnology market.

By Technology 

• Nanobiotechnology
• Tissue Engineering and Regeneration
• DNA Sequencing
• Cell-based Assays
• Fermentation
• PCR Technology
• Chromatography
• Others

By Application 

• Health
• Food & Agriculture
• Natural Resources & Environment
• Industrial Processing
• Bioinformatics
• Others

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Frequently Asked Questions

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• We have a global reach, with expertise spanning across continents, including North America, Europe, Asia-Pacific, Latin America, and the Middle East. We leverage a combination of primary and secondary research methodologies to offer country-level analysis.

1. How does your firm conduct cross-sectional analysis for the U.S. Biotechnology market?

• We conduct cross-sectional analysis by examining data from different individuals at a single point in time to identify patterns and trends across diverse segments of the market.

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• Our team of experienced analysts is available to address any questions, concerns and needs that may arise following the delivery of the report.

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• Through a combination of quantitative and qualitative research methodologies, we meticulously assess the strengths, weaknesses, strategies, and market positioning of your competitors.

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