U.S. Biotechnology Market Size to Hit USD 1,785.96 Billion By 2033

According to Vision Research Reports, the U.S. biotechnology market size was valued at USD 552.43 billion in 2023 and is anticipated to hit around USD 1,785.96 billion by 2033, growing at a CAGR of 12.45% from 2024 to 2033. The factors such as technological advancement, rising investments by pharmaceutical companies, government initiatives and rising demand for medication leading to the growth of U.S. biotechnology market.

Introduction to U.S. Biotechnology

U.S. Biotechnology encompasses a diverse array of scientific disciplines aimed at harnessing biological systems and processes to develop products and technologies that benefit society. It integrates principles from biology, chemistry, genetics, and engineering to create innovative solutions.

Biotechnology companies in the United States are driving advancements in areas such as healthcare, agriculture, environmental conservation, and industrial manufacturing. Their pioneering research and development efforts have yielded groundbreaking therapies, sustainable agricultural practices, and cleaner industrial processes.

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Key Pointers

  • In 2023, the DNA sequencing sector dominated the market with the highest revenue share of 18%.
  • Between 2024 and 2033, the "others" category within the technology sector is projected to experience the most rapid growth, with a CAGR of 28.04%.
  • The health sector captured the largest market share, accounting for 45% in 2023, among all applications.
  • Bioinformatics is expected to exhibit the swiftest expansion, with a CAGR of 17.13% from 2024 to 2033, within the application domain.

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U.S. Biotechnology Market Top Trends:

  • Gene Editing Breakthroughs: Advancements in CRISPR and other gene-editing technologies are revolutionizing biotech, offering precise tools for genetic modification with broad applications in healthcare, agriculture, and beyond.
  • Immunotherapy Innovations: Immunotherapy is gaining momentum, with novel approaches harnessing the body's immune system to fight diseases like cancer. CAR-T cell therapy and checkpoint inhibitors are among the leading innovations.
  • Precision Medicine: Tailoring treatments to individual genetic profiles are becoming increasingly feasible, driving the development of personalized therapies for various diseases, leading to more effective and targeted treatments.
  • AI and Data Analytics: Integration of artificial intelligence and big data analytics is transforming drug discovery, clinical trials, and patient care. Machine learning algorithms are being used to analyze complex biological data and accelerate research.
  • Biopharmaceutical Expansion: Biopharmaceuticals, including monoclonal antibodies and recombinant proteins, continue to dominate the pharmaceutical landscape, with significant investments in research, development, and manufacturing.
  • Synthetic Biology Advancements: Synthetic biology is unlocking new possibilities for engineering biological systems, enabling the production of biofuels, pharmaceuticals, and materials with enhanced efficiency and sustainability.
  • Bioinformatics Integration: The intersection of biology and informatics is driving innovation in bioinformatics, facilitating the analysis of biological data and the discovery of new insights into complex biological processes.

U.S. Biotechnology Market Dynamics:

U.S. Biotechnology Market Driver: Technological Advancements

The U.S. biotechnology market is driven by technological advancement, increasing investments and rising demand for personalised medication. Technological breakthrough gene editing like CRISPR -Cas9, next generation sequencing and bioinformatics empowers analyst to explore modern frontiers in drug discovery. Increased investment from venture capital firms, private equity reserves, and government organizations fuels research and development and supports the expansion of biotech companies.

Rising demand for personalized medication also drives growth and development within the US biotechnology market. Advances in genomics, proteomics, and other omics technologies empower the identification of biomarkers, disease mechanisms, and therapeutic targets, leading to the development of targeted therapies, companion diagnostics, and accuracy medication approaches. these factors shape the growth of the US biotechnology market, driving advancement, investment, and market expansion.

U.S. Biotechnology Market Restraint: Stringent regulatory requirements

The U.S. biotechnology market faces several challenges, including stringent regulatory requirements, intellectual property issues, high development costs, and intense competition. The FDA's stringent requirements make obstructions to entry and product approval, whereas patents are significant for securing developments. High development costs, coupled with long timelines and uncertain clinical results, pose monetary risks for new companies and small firms.  Ethical and societal concerns, such as genetic engineering and stem cell research, can impact open acceptance and regulatory approval. The highly competitive market also limits market opportunities and increases pricing pressure, influencing profit margins. To overcome these limitations, biotech companies must embrace key planning, regulatory compliance, risk mitigation strategies, and innovation management.

U.S. Biotechnology Market Opportunity: Emphasis on personalized medication

The U.S. biotechnology market is experiencing growth and development due to advancements in personalized medication, rising advancements, collaborations, and advanced health. Accuracy medication, a focus on personalized treatments, is being created using genomics, proteomics, and other omics advances. Rising innovations like gene altering, cell treatment, and engineered science are empowering the advancement of novel therapeutics and diagnostics. Collaborations between biotech companies, academic institutions, and pharmaceutical companies are fostering development and accelerating the interpretation of scientific discoveries into commercial products. The convergence of biotechnology and advanced wellbeing presents opportunities for developing innovative solutions for disease monitoring, patient management, and healthcare conveyance. Global expansion into emerging markets with growing healthcare needs is additionally possible. To capitalize on these opportunities, biotech companies must contribute in research, foster collaborations, adapt to regulatory scenes, and tackle emerging technologies.

Recent developments:

  • In Feb 2024, Iovance’s AMTAGVI received the approval from US FDA for the first T-cell therapy for solid tumor cancer and first treatment option for advanced melanoma after anti-PD1 and targeted therapy.
  • In June 2024, the US government through National Institute of Health and National Science Foundation announced the investment of $200 million invested in biomedical research focusing on precision medicine and biomedical innovation.
  • In December 2023, The US FDA granted approval for “Casgevy” to Vertex Pharmaceutical and and approval for the lyfgenia to bluebird inc. Casgevy is a cell-based gene therapy for the treatment of patient with sickle cell disease of 12 years of age and older whereas the lyfgenia is one time ex-vivo lentiviral vector gene therapy for the patient with sickle cell disease.

Technology Insights

DNA sequencing emerged as a dominant force in the market, capturing the highest revenue share of 18% in 2023. This surge can be attributed to the declining costs of sequencing and the widespread adoption of advanced DNA sequencing techniques. Particularly crucial in the development of personalized cancer treatments, DNA sequencing plays a pivotal role in identifying mutations. Its widespread adoption in research allows for efficient comparison of large DNA segments across various species. Continuous advancements in sequencing systems are bolstering their speed and cost-effectiveness, unlocking significant potential in healthcare applications. Government backing, exemplified by initiatives like the USD 10.7 million NIH grant awarded in May 2021 for Alzheimer's disease research, is further propelling the expansion of sequencing for insights into diseases.

The "others" segment is poised to exhibit the fastest compound annual growth rate (CAGR) of 28.04% throughout the forecast period. This segment encompasses fermentation in food and environmental applications, driven by the escalating utilization of microorganisms in the food industry and efforts to address environmental issues such as climate change. Intechopen's February 2023 report emphasized that integrating microorganisms into food processing can enhance efficiency, reduce time and energy consumption, and establish a more consistent commercial processing system. With the increasing demands of modern lifestyles, there is a growing reliance on processed foods, leading to heightened demand for such products. Fermentation in food processing capitalizes on the growth and metabolic activities of microorganisms to stabilize and transform food materials, converting organic acids or carbon dioxide and carbohydrates into alcohols under anaerobic conditions using bacteria, yeasts, or a combination thereof. This trend is expected to propel market growth.

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Application Insights

The health sector asserted its dominance in the market, capturing the largest revenue share of 45% in 2023. The integration of biotechnology into healthcare is revolutionizing the industry landscape. Breakthroughs in genomics, molecular biology, cellular and tissue engineering, bio-imaging, as well as advancements in drug discovery and delivery methods, present promising opportunities to enhance diagnostic capabilities and broaden treatment horizons. Driving the segment's growth are factors such as the increasing burden of diseases, expanding availability of agri-biotech and bio-services, and technological strides in the bio-industrial sector. Moreover, significant advancements in Artificial Intelligence (AI), machine learning (ML), and big data are further propelling the segment's expansion and fostering its adoption across the food and beverage industries.

Bioinformatics is poised to experience the most rapid growth, with a projected CAGR of 17.13% during the forecast period. The bioinformatics industry has witnessed rapid global proliferation, spurred by diverse fields such as physics, mathematics, and pharmaceuticals, alongside the emergence of new biotechnology domains like proteomics and genomics. The influx of data from increased biotechnology research and development has widened the scope of bioinformatics. It is now extensively utilized for bioresource conservation and management, biological prospecting, product and process evaluation, as well as the management of complex data for national programs. Cloud computing has become indispensable to bioinformatics, offering scalable computing and storage solutions, facilitating data sharing, and providing on-demand access to resources. The emergence of biomedical cloud platforms tailored to specific research community needs is a notable trend, expected to bolster the adoption of bioinformatics tools in life sciences

U.S. Biotechnology Market Key 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

U.S. Biotechnology Market Segmentations:

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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