Straits Research released its highly anticipated report, “Global Biotechnology Market Size & Outlook, 2026-2034”. According to the study, the global market size is valued at USD 1,650 billion in 2025 and is projected to expand to USD 5,220 billion by 2034, registering a compound annual growth rate (CAGR) of 13.67%.

Market Dynamics

The market growth is primarily attributed to the rapid advancements in genetic engineering, personalized medicine, as well as bioinformatics, transforming healthcare and therapeutic solutions. In addition, the increasing demand for personalized medicine continues to drive the growth of the biotechnology market, as patients and healthcare providers seek therapies tailored to individual genetic and molecular profiles. For example, in March 2024, according to a press release from Moderna, advancements in mRNA technology enabled the development of more targeted therapies, improving treatment efficacy and safety. Such factor signified the growing importance of biotechnology innovations in delivering precise and patient-specific healthcare solutions. However, ethical and social concerns surrounding certain biotechnological applications, such as genetic engineering, cloning, and genome editing, hinders the market growth. Public apprehension regarding the safety, long-term effects, and potential misuse of these technologies can lead to stricter regulations, slower adoption, and increased scrutiny from regulatory authorities. These ethical debates also influence investor confidence and limit funding for innovative projects. Despite of these challenges, the market presents several opportunities, such as advancements in tissue engineering for regenerative medicine as it enables the repair or replacement of damaged tissues and organs, addressing unmet medical needs. For instance, in February 2025, Organovo announced successful clinical trials using 3D bioprinted liver tissues for drug testing, demonstrating improved treatment options. Such a factor signified the potential for tissue engineering to revolutionize regenerative medicine and expand the biotechnology market.

Market Highlights

• Technology: According to Straits Research, the DNA sequencing segment dominated the market in 2025, with a revenue share of 21.75%.
• Application: The Bioinformatics segment is expected to witness the highest CAGR (14.35%) during the forecast period, fuelled by the increasing integration of AI and machine learning in biological data analysis and the rising demand for precision medicine and genomics research.
• Regional Insights: North America dominates with over 42.17% share, driven by well well-advanced biotechnology infrastructure across the region.