The biotechnology market size is expected to reach USD 5.85 trillion by 2034, according to a new study by Polaris Market Research. The report “Biotechnology Market Size, Share, Trends & Industry Analysis Report By Technology (PCR Technology, Nanobiotechnology, Cell-based Assays, DNA Sequencing), By Application, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing prevalence of chronic diseases, along with the introduction of innovative treatments, is driving revenue growth in the biotechnology market. Biotechnology is highly beneficial for treating many diseases, with the pharmaceutical industry utilizing biotechnological techniques ranging from the cultivation of antibiotic-producing microorganisms in fermentation broth to the purification of antibiotic products. Additionally, modern biotechnology has the potential to enhance the effectiveness of various advanced therapeutic approaches specific to particular diseases. It plays a crucial role in the healthcare system, significantly contributing to the production of numerous drugs and vaccines used for treating various conditions. Furthermore, many other medical procedures that are essential to the healthcare system also involve the use of biotechnology.
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The growing demand for organic food highlights the essential role of biotechnology in agriculture, driving revenue growth in the market. Biotechnology offers farmers solutions that make production more cost-effective and efficient. For instance, certain biotech crops can be genetically modified to withstand specific herbicides, enhancing the efficiency and effectiveness of weed control. Additionally, biotechnology supports breeding crops to be resistant to particular plant diseases and insect pests, due to which it becomes possible to minimize the use of synthetic pesticides and enhance pest control. These options in crop production not only reduce production costs but also aid countries in meeting the demand for food.
By Technology (Revenue - USD Trillion, 2020–2034)
By Application (Revenue - USD Trillion, 2020–2034)
By Regional Outlook (Revenue - USD Trillion, 2020–2034)
Report Attributes |
Details |
Market size value in 2024 |
USD 1.64 trillion |
Market size value in 2025 |
USD 1.86 trillion |
Revenue Forecast in 2034 |
USD 5.85 trillion |
CAGR |
13.6% from 2025–2034 |
Base year |
2024 |
Historical Data |
2020–2023 |
Forecast Period |
2025–2034 |
Quantitative Units |
Revenue in USD trillion and CAGR from 2025 to 2034 |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
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Regional Scope |
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Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
For Specific Research Requirements |