U.S. Biotechnology Market to Soar from USD 621.8 Billion in 2024 to USD 2004.86 Billion by 2034, Reports Towards Healthcare

The U.S. biotechnology market is projected to reach USD 2004.86 billion by 2034, up from USD 699.02 billion in 2025, expanding at a CAGR of 12.42% during the forecast period.

Ottawa, Sept. 17, 2025 (GLOBE NEWSWIRE) -- According to a study published by Towards Healthcare, a sister firm of Precedence Research, the U.S. biotechnology market was valued at USD 621.8 billion in 2024 and is anticipated to climb to nearly USD 2004.86 billion by 2034, registering a 12.42% CAGR.

The U.S. biotechnology market is driven by the growth in healthcare investments, growing innovations, and increasing use of biologics.

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Key Takeaways

By technology, the DNA sequencing segment held a 19% share in the market in 2023.
By technology, the nanobiotechnology segment is expected to be the fastest growing during the forecast period.
By application, the health segment held a 45% share in the market in 2023.
By application, the bioinformatics segment is expected to be the fastest growing with a CAGR of 17.13% during the forecast period.

Market Overview & Potential

The U.S. biotechnology market encompasses the innovative solutions developed from living organisms or their component for the treatment of various diseases. Biotechnology provides various applications for different sectors. They are widely used in the healthcare sector for developing a variety of treatment options to tackle the growing diseases.

Similarly, in the agricultural sector, they help in the development of GMOs, in the food and beverages sector, they focus on the development of beers or breads, while in the environmental sector, they help in controlling or minimizing environmental pollution. Moreover, it utilizes various technologies such as nanobiotechnology, DNA sequencing, tissue engineering, fermentation, etc. Furthermore, the market is driven by growing healthcare investments, growing innovation, and technological advancements.

What are the Major Growth Drivers U.S. Biotechnology Market?

The growing reach and development are the major drivers which is increasing the use of various biotechnological tools. The growing innovation of cell and gene therapies is accelerating the biotechnology sector. At the same time, the industries are also developing advanced techniques and platforms such as gene editing, CRISPR, next-generation sequencing platforms, etc, which are also enhancing the reach and development.

These innovations are also supported by the government and private funding and investments, respectively. Additionally, the regulatory bodies are also providing fast-track approvals, which, in turn, is encouraging innovations. The growing advancements in genomics, expanding biotech industries, and increasing demand for biologics are some of the other market drivers.

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What are the Key Drifts in the U.S. Biotechnology Market?

The market has been expanding due to the growing investments, collaborations, grants, funding, and acquisitions to accelerate the research and development to enhance various biotechnological innovations.

In March 2025, to develop tissue-targeted therapies for cardiometabolic diseases, a collaboration valued at up to $354m between Novo Nordisk and Gensaic was formed. With the use of an AI-guided ligand discovery platform from Gensaic, the collaboration will advance the development of precision drug delivery.
In January 2025, as part of the inaugural Ecosystem Building Grant program of the Piedmont Triad Regenerative Medicine Engine (PTRME), a grant of $2.5 million was awarded to it.
In December 2024, to advance tissue engineering and mechanobiology research and to enhance multiple projects, a total of 1.6 million in funding will be provided by the U.S. National Science Foundation (NSF).
In November 2024, the completion of the acquisition of Collagen Solutions, which is a global supplier of engineered medical-grade collagen and xenograft tissue, by RTI Surgical, which is a CDMO focusing on innovations and tissue engineering to meet patient demands in regenerative medicine, was announced.

What is the Significant Challenge in the U.S. Biotechnology Market?

High cost acts as the major limitation, which in turn affects the biotechnological research and development processes. The development of novel therapies and drugs is costly. At the same time, their R&D as well as clinical trials are a time-consuming process, which can also add to the costs.

Additionally, the lack of proper reimbursements and insurance policies also makes the products expensive. Thus, this makes the products developed more costly, which reduces their use and adoption rates by the patients as well as the hospitals. Furthermore, the other market restrainers include the growing regulatory complexities, lack of skilled personnel, and limited access to the products.

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Regional Analysis

Why is the U.S. Significantly Growing in the U.S. Biotechnology Market in 2023?

The U.S. is expected to grow significantly in the biotechnology market during the forecast period. The U.S. consists of well-developed biotechnology industries as well as startups. At the same time, the healthcare investments are increasing the research and development. They are also supporting the utilization and acquisition of various technologies.

The institutes are also contributing to this growth due to various research funded by the government. Moreover, the growing development of biologics and CAR T therapies, along with increasing use of CRISPR gene editing techniques, is also enhancing the biotechnology sector. Bioinformatics, synthetic biology, and personalized medicine are also contributing to the same. Thus, all these advancements are promoting the market growth.

Global Biotechnology Market Growth

The biotechnology market is projected to grow from USD 1,744.83 billion in 2025 to USD 5,036.46 billion by 2034, reflecting a robust CAGR of 12.5% during the forecast period. This significant expansion is driven by continuous innovation and rapid technological advancements across the biotechnology sector.

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Segmental Insights

By technology analysis

Why Did the DNA Sequencing Segment Dominate in the U.S. Biotechnology Market in 2023?

By technology, the DNA sequencing segment led the market with a 19% share in 2023, due to its increased use in the development of precision medications. It was also used in cancer genomics as well as the diagnosis of rare diseases. The identification of biomarkers and drug targets was also enhanced with their use.

They were also used for the detection of infectious diseases as well as to accelerate drug development. Moreover, the growing research in genomics and diagnostics has also increased their use. Additionally, funding was provided to support these R&D, which increased their adoption rates.

By technology, the nanobiotechnology segment is expected to show the fastest growth rate during the predicted time. These technologies are increasingly being used in the development of drug delivery systems for targeted actions. They are also being used for the development of precision medicine with fewer side effects.

At the same time, the growing advances in regenerative medicine are also increasing their utilization to enhance tissue engineering. Moreover, their use in the detection of various diseases and for developing appropriate vaccine delivery systems is also increasing. These developments are also supported by the government funding.

By application analysis

Which Application Type Segment Held the Dominating Share of the U.S. Biotechnology Market in 2023?

By application, the health segment held the dominating share of 45% in the market in 2023, due to increased use of advanced therapies. At the same time, the growing demand for appropriate treatment options for various chronic diseases also enhanced the growth of the biotechnology sector.

Similarly, the growing demand for biologics such as cell therapies, gene therapies, vaccines, etc, also contributed to the same. Moreover, the growing interest in genomics is enhancing various research and development of personalized medicines. Thus, all these advancements enhanced the market growth.

By application, the bioinformatics segment is expected to show the highest growth with a CAGR of 17.13% during the upcoming years. The growing demand for personalized treatment is increasing its use for analyzing the patient's genetic data. Moreover, they are also used for high-throughput screening of the generated data.

They are also being used in drug discovery and development for the detection of drug targets or biomarkers. At the same time, the growing cancer, rare disease diagnostics are increasing their demand. Additionally, the growing advancements in microbiome research and virology are also increasing their use.

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Recent Developments in the U.S. Biotechnology Market

In May 2025, a collaboration between City Therapeutics, Inc. and Biogen Inc. was formed for developing novel RNAi therapies, where they will initially focus on identifying a single target, mediating key central nervous system diseases to promote the development of systemic administration of medicines with the use of tissue-enhanced delivery technologies.
In February 2025, to launch the world’s first hospital-based autologous induced pluripotent stem cell (iPSC) Foundry, a collaboration between Cellino and Mass General Brigham’s Gene and Cell Therapy Institute (GCTI), was announced. To provide personalized tissue and cell therapies directly at the point of care, a stage for a nationwide network of decentralized biomanufacturing hubs will be established with this initiative.
In January 2025, to advance in tissue engineering and regenerative medicine, a new type of skeletal tissue was discovered by the research team led by the University of California, Irvine.

U.S. Biotechnology Key Players

Pfizer, Inc.
Johnson & Johnson Services, Inc.
Abbott Laboratories
Amgen Inc.
Gilead Sciences, Inc.
Biogen
Walgreens
Bristol-Myers Squibb
NVIDIA Healthcare

Browse more insights of Towards Healthcare

The global life science chemical biotech instrumentation market was valued at USD 34.23 billion in 2024, increasing to USD 35.62 billion in 2025, and is projected to reach USD 50.85 billion by 2034, expanding at a CAGR of 4.05% between 2025 and 2034.

The global animal biotechnology market stood at USD 28.17 billion in 2024, grew to USD 30.97 billion in 2025, and is expected to reach USD 72.6 billion by 2034, advancing at a strong CAGR of 9.93% from 2025 to 2034.

The CDMO services for pharma and biotech market is witnessing significant growth from 2024 to 2034, fueled by the rising outsourcing trends among pharmaceutical and biotechnology companies.

The global biotechnology & pharmaceutical services market was valued at USD 76.51 billion in 2024, increased to USD 80.7 billion in 2025, and is projected to reach USD 130.56 billion by 2034, growing at a CAGR of 5.48% during 2025–2034.

The global lipid nanoparticles market was valued at USD 1.04 billion in 2024, reached USD 1.18 billion in 2025, and is expected to rise to USD 3.84 billion by 2034, recording a notable CAGR of 13.97% from 2025 to 2034.

The global biotechnology reagents & kits market was valued at USD 733.17 billion in 2024, expanded to USD 813.38 billion in 2025, and is projected to reach USD 2,070.55 billion by 2034, growing at a CAGR of 10.94% throughout the forecast period.

The global biotechnology instruments market is forecasted to reach USD 138.06 billion by 2034, up from USD 97.33 billion in 2025, progressing at a CAGR of 3.96% between 2025 and 2034.

The global gene therapy cell culture media market was valued at USD 193.45 billion in 2024, expanded to USD 214.42 billion in 2025, and is expected to surpass USD 541.42 billion by 2034, growing steadily at a CAGR of 10.84%.

The global advanced therapy medicinal products (ATMP) CDMO market was valued at USD 6.73 billion in 2024, increased to USD 7.99 billion in 2025, and is projected to reach USD 37.27 billion by 2034, expanding at a robust CAGR of 18.82% during 2025–2034.

The global host cell protein (HCP) testing market was valued at USD 2.37 billion in 2024, grew to USD 2.56 billion in 2025, and is anticipated to reach USD 5.19 billion by 2034, registering a CAGR of 8.17% between 2025 and 2034.

Segments Covered in The Report

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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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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