United States Biotechnology Market Size, Share, Trends & Outlook 2024-2032

Written by kishanroy » Updated on: October 26th, 2024

IMARC Group has published a market research report titled "United States Biotechnology Market Report by Product Type (Instruments, Reagents, Software and Services), Technology (Nanobiotechnology, Tissue Engineering and Regeneration, DNA Sequencing, Cell-Based Assays, Fermentation, PCR Technology, Chromatography, and Others), Application (Healthcare, Food and Agriculture, Natural Resources and Environment, Industrial Processing, Bioinformatics, and Others), and Region 2024-2032", United States biotechnology market size is projected to exhibit a growth rate (CAGR) of 9.50% during 2024-2032.

The advancements in scientific research as well as innovation in technology are the factors responsible for the growth of the United States biotechnology market. Additionally, the demand for biotechnology is escalating owing to the surge in personalized medicine, where treatments are tailored to individual genetic profiles. Advances in genomic sequencing and CRISPR gene-editing technology are enabling breakthroughs in disease prevention and treatment, particularly in oncology, rare genetic disorders, and infectious diseases. Moreover, the COVID-19 pandemic has bolstered the adoption of biotechnological solutions, underscoring the importance of biotechnology in addressing global health challenges and spurring increased funding and interest in the sector.

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United States Biotechnology Market Trends and Drivers:

In addition to healthcare, the agricultural biotechnology segment is also witnessing significant growth in the United States market. Besides this, the demand for sustainable practices as well as the need to enhance crop productivity to feed a growing population are driving the adoption of genetically modified organisms and biopesticides. Innovations in biotechnology are also leading to the development of crops that are more resistant to pests, diseases, and environmental stresses, thereby improving agricultural productivity and sustainability. Furthermore, support and regulatory frameworks by government authorities are playing a major role in fostering the biotechnology market, with policies aimed at encouraging innovation, ensuring safety, and facilitating the commercialization of biotechnological products. In line with this, partnerships between biotech companies, academic institutions, and government authorities are accelerating the translation of research into practical applications, which is anticipated to drive the United States biotechnology market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

Product Type Insights:

Instruments

Reagents

Software and Services

Technology Insights:

Nanobiotechnology

Tissue Engineering and Regeneration

DNA Sequencing

Cell-Based Assays

Fermentation

PCR Technology

Chromatography

Others

Application Insights:

Healthcare

Food and Agriculture

Natural Resources and Environment

Industrial Processing

Bioinformatics

Others

Regional Insights:

Northeast

Midwest

South

West

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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