[Latest] US Biotechnology Market Size/Share Worth USD

Austin, TX, USA, July 25, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “US Biotechnology Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of US Biotechnology Market size & share was valued at approximately USD 533.4 Billion in 2023 and is expected to reach USD 583.8 Billion in 2024 and is expected to reach a value of around USD 1797.8 Billion by 2033, at a compound annual growth rate (CAGR) of about 12.3% during the forecast period 2024 to 2033.”

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US Biotechnology Market: Overview

Biotechnology encompasses a broad range of scientific disciplines that utilize living organisms, cells, and biological systems to develop products and technologies that benefit society.

One prominent trend in the US biotechnology sector is the increasing focus on precision medicine and personalized therapies. This approach involves tailoring medical treatment and interventions to individual patients based on their genetic makeup, lifestyle factors, and specific disease characteristics.

Advances in genomic sequencing technologies, bioinformatics, and data analytics have enabled researchers and healthcare providers to identify biomarkers, understand disease mechanisms at a molecular level, and develop targeted therapies with higher efficacy and fewer side effects.

This trend represents a shift towards more precise and patient-centric healthcare solutions, offering the potential to improve treatment outcomes, reduce healthcare costs, and enhance overall quality of care.

Additionally, it fosters collaboration between biotechnology companies, research institutions, and healthcare providers, driving innovation and accelerating the development of personalized medicine approaches.

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By technology, the DNA Sequencing segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in DNA sequencing is characterized by technological advancements, leading to increased speed, accuracy, and cost-effectiveness.

Next-generation sequencing techniques, such as Illumina sequencing, are dominant, enabling large-scale genomic analysis for applications including personalized medicine, agricultural genomics, and environmental studies.

Additionally, there’s a growing interest in long-read sequencing technologies like Oxford Nanopore, offering enhanced resolution for complex genomic regions.

By application, the healthcare segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033.

One notable trend in healthcare is the increasing focus on telemedicine and remote patient monitoring, driven by technological advancements and the need for accessible and efficient healthcare delivery. This trend enables remote consultations, real-time health monitoring, and improved patient outcomes, particularly in underserved or rural areas.

Thermo Fisher Scientific Inc. is an American supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services. Based in Waltham, Massachusetts.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 583.8 Billion
Projected Market Size in 2033	USD 1797.8 Billion
Market Size in 2023	USD 533.4 Billion
CAGR Growth Rate	12.3% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Technology, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	US
Buying Options	Request tailored purchasing options to fulfil your research requirements.

(A free sample of the US Biotechnology report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the US Biotechnology report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed US Biotechnology market. The driving forces, restraints, challenges, opportunities, and key trends have been explained to depict an in-depth market scenario. Segment-wise, market size and market share during the forecast period are duly addressed to portray the probable picture of the US biotechnology industry.

The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, which are studied and analyzed extensively concerning their strengths, weaknesses, and value addition prospects. In addition, this report covers key players’ profiling, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the US Biotechnology market and what is its expected growth rate?
What are the primary driving factors that push the US Biotechnology market forward?
What are the US Biotechnology Industry's top companies?
What are the different categories that the US Biotechnology Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the US Biotechnology market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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US Biotechnology Market: Recent Developments

In October 2023, Amgen announced that it had completed its acquisition of Horizon Therapeutics plc. Horizon Therapeutics is a biopharmaceutical company focused on developing and commercializing therapies for rare genetic and autoimmune diseases.

In December 2022, Merck KGaA announced a collaboration with Mersana Therapeutics to advance the development of antibody-drug conjugates (ADCs), specifically focusing on novel STING-agonist ADCs targeting up to two distinct targets. This collaboration aimed at harnessing the potential of ADCs for therapeutic innovation.

In January 2023, Anima Biotech collaborated with AbbVie to accelerate the development of novel mRNA biology modulators to treat various oncology and immunology targets.

In October 2023, Gilead Science’s subsidiary, Kite and Epicrispr Biotechnologies, announced a research collaboration and licensing agreement to utilize Epic Bio’s gene regulation platform in developing advanced cancer cell therapies.

In September 2023, Biogen announced that the US Food and Drug Administration (FDA) had approved CONFIDENCE (tocilizumab-above) in its intravenous form, representing a biosimilar monoclonal antibody concerning ACTEMRA.

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Browse the full “US Biotechnology Market Size, Trends and Insights 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), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/us-biotechnology-market/

List of the prominent players in the US Biotechnology Market:

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
Hoffmann-La Roche Ltd.
Lonza
Others

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The US Biotechnology Market is segmented as follows:

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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This US Biotechnology Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Key Players in This US Biotechnology Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Market Status of the US Biotechnology Market? What Was the Capacity, Production Value, Cost and PROFIT of the US Biotechnology Market?
What Is the Current Market Status of the US Biotechnology Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of US Biotechnology Market by Considering Applications and Types?
What Are Projections of the US Biotechnology Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is US Biotechnology Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On US Biotechnology Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?
What Are Market Dynamics of US Biotechnology Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for US Biotechnology Industry?

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Reasons to Purchase US Biotechnology Market Report

US Biotechnology Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
US Biotechnology Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
US Biotechnology Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
US Biotechnology Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the US Biotechnology market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide US Biotechnology market analysis.

The competitive environment of current and potential participants in the US Biotechnology market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide US Biotechnology market should find this report useful. The research will be useful to all market participants in the US Biotechnology industry.
Managers in the US Biotechnology sector are interested in publishing up-to-date and projected data about the worldwide US Biotechnology market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in US Biotechnology products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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