U.S. Biotechnology Market Size & Outlook, 2023-2030
U.S. biotechnology market, 2018-2030 (US$M)
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U.S. biotechnology market highlights
- The U.S. biotechnology market generated a revenue of USD 552,397.3 million in 2023 and is expected to reach USD 1,249,621.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 12.4% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
Biotechnology market data book summary
| Market revenue in 2023 | USD 552,397.3 million |
| Market revenue in 2030 | USD 1,249,621.7 million |
| Growth rate | 12.4% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, U.S. accounted for 35.6% of the global biotechnology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. biotechnology market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 206,813.8 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. biotechnology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 44.26% in 2023. Horizon Databook has segmented the U.S. biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
A majority of the clinical development in life sciences technologies for applications in oncology and infectious diseases is reported in the U.S. The successful completion of the human genome project paved way for the development of personalized medicine approaches.
Research, development, and commercialization of personalized medicine services and products takes place faster in the U.S. as compared to other countries around the globe. Moreover, introduction of automated solutions is anticipated to increase the adoption of life sciences tools among the end users.
For instance, the Smart Extraction technology developed by Analytik Jena is used to extract high molecular weight DNA from a range of samples. This automated extraction and purification of nucleic acids simplifies the workflow, increases efficiency, yield, and DNA quality.
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Our clientele includes a mix of biotechnology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. biotechnology market , including forecasts for subscribers. This country databook contains high-level insights into U.S. biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. biotechnology market size, by application, 2018-2030 (US$M)
U.S. Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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