Market Analysis

According to estimates, the global biotechnology market would grow from USD 129.14 billion in 2021 to USD 151.10 billion in 2022, with a CAGR of 17.0%. By 2026, the biotech industry is projected to grow at a CAGR of 15.3% and reach USD 267.29 billion. With a 15.83% CAGR, the biotechnology market will be worth $2.44 trillion by 2028. With annual income growth rates of 10-15%, the global bioeconomy may be worth more than $20 trillion by 2030. Between 2021 and 2028, market growth is anticipated for the biotechnology sector. Growing incidence of chronic diseases necessitates the use of cutting-edge biotechnology tools and products, which propels the biotechnology market's expansion. Due to the rise in prevalence, the biotechnology market is expanding.

The estimated value of the worldwide biotechnology market was USD 793.87 billion in 2021 and is projected to reach USD 1,683.52 billion by 2030, growing at a notable CAGR of 8.7% from 2022 to 2030. The market is being driven by supportive government initiatives as a result of the expansion of the biotechnology sector in developing countries like China, Japan, and India.

During the forecast period, the growth of the biotechnology market will be fueled by factors such as the increasing prevalence of target diseases and genetic engineering, ongoing technological advancements in Polymerase Chain Reaction (PCR) technologies, the creation of portable instruments that are smaller and incorporate robotics, as well as increased investments in, funding for, and grants for research activities.

Fermentation, nanobiotechnology, tissue engineering, bioinformatics, chromatography, PCR technology, cell-based assays, and DNA sequencing technology are the biotechnology industries with the biggest market value. With a 17.0% CAGR, the pharmaceutical filtering market is anticipated to reach $29.7 billion by 2027. With a CAGR of 11.4%, the market for DNA sequencing is predicted to be worth USD 11.2 billion. According to estimates, the market for 3D cell culture would grow at a 15.6% CAGR from $1.3 billion in 2022 to $2.6 billion in 2027. The market for protein characterization and identification is anticipated to grow at a CAGR of 13.7% to $23.9 billion by 2026. According to estimates, the market for bioprocessing will grow at a CAGR of 20.5% from $8.2 billion in 2021 to $20.8 billion by 2026. By 2027, the market for plasma fractionation is projected to reach $36.7 billion, growing at a CAGR of 6.7%. By 2027, the market for cell biology and analysis is projected to reach $28.6 billion with a CAGR of 10.1%. The market for the human genomics and microbiome is anticipated to grow at a CAGR of 31.1% from $269 million in 2023 to $1,370 million in 2029.

During the anticipated period, the biotechnology market will be dominated by the biopharmaceutical sector. Based on technology, the nano-biotechnology category led the market in 2021 with the greatest market share, and from 2022 to 2030, it had a CAGR of almost 17%. On the other hand, bioinformatics is anticipated to expand quickly during the projected period, at a rate of 21.5%.

Above analysis revealed three elements that draw investors to the European biotechnology market: significant hotspots across geographies, therapeutic modalities, and industry; formidable research and industrial capabilities to support basic science and innovation; and an abundance of top personnel. Europe has a complicated biotech ecosystem, with hundreds of businesses, numerous avenues for research and financing, and obvious regional variations.