Biotechnology in the US - Industry Market Research Report

Biotechnology in the US - Industry Market Research Report

Biotechnology in the US

Explosive growth in biotechnology in recent years can't be understated. What's fueling this rapid growth varies, as biotech's applications range from healthcare and agriculture to energy. COVID-19 brought more attention to biotechnology, as biotech was central in developing vaccines and reopening the economy. Biotech's potential to develop vaccines shifted the industry's trajectory, with investment reaching unprecedented levels and over 150 biotech operators going public in 2021. Even as growth settles in 2023, revenue has expanded at a CAGR of 2.6% to $193.1 billion over the past five years.

Companies in this industry primarily use living organisms or molecular and cellular techniques to provide chemicals, food and services that meet human needs. The industry excludes companies involved in developing small-molecule pharmaceuticals, performing contract research or manufacturing biological equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.