US Biotechnology Market size was valued at USD 583.8 Billion in 2024 and is expected to reach USD 1797.8 Billion by 2033, at a CAGR of 12.3% during the forecast period 2024 – 2033.
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.
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.
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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