Press release
Global Biotechnology Services Market to Reach $171.87 Billion by 2029, Growing at 5.2% CAGR
Biotechnology Services Market
Biotechnology research is becoming increasingly important due to the growing prevalence of diseases such as hepatitis B, diabetes, and cancer. This branch of science utilizes tools from biology and chemistry to explore the genetic material of viruses and bacteria to understand the agents that cause diseases. Amongst biopharmaceutical companies, oncology research stands out. The application of stem cell treatment using monoclonal antibodies and genome sequencing in medical treatments is also advancing. For example, data from the National Health Service, a UK government department, stated that in June 2024, over 549,000 new individuals in England were identified as being at risk of type 2 diabetes in 2023. This contributed to a rising number of registered pre-diabetic patients under a GP's care, totalling 3,615,330. This figure represents a significant increase from 3,065,825 in 2022, an approximately 20% rise. In another example, the World Health Organization, a Switzerland-based intergovernmental organization, projected in February 2024 that over 35 million new cancer cases were expected by 2050, a 77% increase from roughly 20 million cases in 2022. Consequently, the growing prevalence of diseases and massive expenditure on R&D are expected to fuel the growth of the biotechnology services market.
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What is the future CAGR of the biotechnology services market, and how will it impact industry expansion?
In the past few years, the biotechnology services market has witnessed consistent growth. The market size is projected to increase from $133.74 billion in 2024 to $140.24 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.9%. Factors contributing to this growth during the historical period include robust economic expansion in developing markets, enhanced partnerships with research institutions and corporations, and a rising demand for food.
Expectations are high for the biotechnology services market in the coming years, with predictions indicating a strong upturn in growth. The market size is anticipated to advance to $171.87 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.2%. Factors driving this growth during the forecast period include rapid technological progression, an increase in non-communicable diseases, a focus on innovation, a surge in demand for agricultural biotechnology services, and an uptick in the need for synthetic biology. Enhanced drug research methodologies, the rise of personalized treatments, and collaborations and partnerships also contribute to this growth. Key trends to watch in the forecast timeline are strategic alliances, the integration of data management systems via cloud technology, advances in next-generation sequencing technology, digitalization of clinical trials, the employment of automated solutions, the implementation of artificial intelligence, and investment towards synthetic biology for the creation of innovative products and solutions.
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What are the most significant trends transforming the biotechnology services market today?
A rising pattern in the biotech services sector is industry players joining forces for collaborative projects. For example, in April 2024, ICL partners, a manufacturing firm from Israel, established a partnership with Ideelab Biotechnology, a company out of Brazil specializing in biotechnology. Their cooperation is intended to expedite the development of cutting-edge biotechnologies for the agricultural industry, with a primary focus on sustainable and regenerative methods. Utilizing the specialized skills from Ideelab in the field of advanced biologicals, combined with ICL's proficiency in plant nutrition and physiology, the partners plan to develop next-generation products that tackle worldwide agricultural issues and boost food production.
Which key market segments comprise the biotechnology services market and drive its revenue growth?
The biotechnology services market covered in this report is segmented -
1) By Service: Prevention And Disease Control, Public Engagement Activities, Health Education And Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing And Isolation, Research And Development
2) By Industry: Clinical Research Organizations (CROS), Contract Manufacturers Organizations (CMOS), And Contract Research And Manufacturing Services (CRAMS)
3) By Area Of Application: Pharmaceutical, Biotechnology, Academic, Clinical Trial, Healthcare Sectors, Others
Subsegments:
1) By Prevention And Disease Control: Vaccination Services, Disease Surveillance
2) By Public Engagement Activities: Awareness Campaigns, Community Outreach Programs
3) By Health Education And Research: Medical Training Programs, Research Grants And Fellowships
4) By Food Biotechnology Services: Genetically Modified Crop Services, Food Safety Testing
5) By Donor Recruitment: Blood Donor Recruitment, Organ Donor Recruitment
6) By Tissue Collection: Blood Tissue Collection, Biopsy Tissue Collection
7) By Cell Processing And Isolation: Stem Cell Processing, Immune Cell Isolation
8) By Research And Development: Drug Discovery Services, Clinical Research
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What regions are at the forefront of biotechnology services market expansion?
Asia-Pacific was the largest region in the biotechnology services market in 2024. North America was the second largest region in the global biotechnology services market analysis. The regions covered in the biotechnology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the biotechnology services market?
Major companies operating in the biotechnology services market include Parexel International Corporation, Thermo Fisher Scientific, Laboratory Corporation of America Holdings, IQVIA, ICON plc, Charles River Laboratories, Syneos Health, Sartorius AG, Precision for Medicine Inc., Novartis, Eppendorf Asia Pacific Sdn. Bhd., Emmessar Biotech & Nutrition Ltd, Vcanbio Cell & Gene Engineering Corp., Ltd, Ke Rui Gene, Absea Biotechnology Ltd, CStone Pharm-B, Daiichi Sankyo, bitBiome, Taisho Pharmaceutical, AGC Biologics, Hamamatsu Pharma Research, Artios Pharma, AstraZeneca, Bio Products Laboratory (BPL), Cambridge Bioscience, Shire Pharmaceuticals Ltd, BTG Ltd, eXmoor Pharma, 4D Pharma PLC, Touchlight Genetics, Ophidia Medical Technologies, ATAI Life Sciences, Phaseform, Evotec, Sanity Group, Primmbiotech Vaccitech, Biolat, Asla-Biotech, Genera, Anima Lab, Silvanols, OU TBD-Biodiscovery, Qvalitas Arstikeskus AS, Concise Systems OU, GPE Globalpharma OU, Belarusian National Biotechnology Corporation, Innothera, Olainfarm, Pharmaidea, Amgen Inc., Gilead Sciences, Celgene Corporation, Biogen Inc., Vertex Pharmaceuticals, Illumina, Inc., Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals, Hemostemix Inc., Resverlogix Corporation, Zenith Epigenetics Corp., Bayer, AMEGA Biotech, Pierre Fabre, Pfizer, Quantificare, Apsen Farmaceutica, BioMarin Pharmaceutical, DK Diagnostics, Biosonda Biotechnology, Laboratorios Legrand, Biomerics, Julphar Pharmaceuticals, Medpharma, Pharmax, Neopharma, City Breeze Technical Services, CinnaGen, BioSun Pharmed, AryoGen Pharmed, 4Clinics, 54gene, Amoun, Aspen Pharmacare, BBI Solutions, BioTech Africa, ClinArt MENA, Crux Pharmaceuticals, Genesis Pharmaceuticals, Massive Genomics, Mayne Pharma, Sanofi Genzyme, Teleflex Medical, The Micron Group
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What Is Covered In The Biotechnology Services Global Market Report?
•Market Size Forecast: Examine the biotechnology services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the biotechnology services market for a structured understanding.
•Key Players Overview: Analyze major players in the biotechnology services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biotechnology services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the biotechnology services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biotechnology services market.
•Industry Challenges: Identify potential risks and obstacles affecting the biotechnology services market.
•Competitive Landscape: Review strategic developments in the biotechnology services market, including expansions, agreements, and new product launches.
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