Biotechnology Product Manufacturing Industry Profile

Companies in this industry manufacture vaccines, toxoids, blood fractions, and culture media of plant or animal origin. Major companies include Amgen, Biogen, Genentech, and Gilead Sciences (all based in the US), as well as Bayer and Merck Group (both based in Germany), CSL (Australia), Novo Nordisk (Denmark), and the biotech research arms of major international pharmaceutical companies such as Sanofi (France).

The global biotechnology market is projected to reach about $4 trillion by 2033, at a compound annual growth rate (CAGR) of about 12% from 2024-2033, according to Precedence Research. The top region for biotechnology is the US, followed by China, according to Statista. Other markets include Denmark, the Netherlands, South Korea, the UK, Switzerland, and Taiwan, among others.

The US biotechnology product manufacturing industry generates annual revenue of about $30 billion and has about 350 establishments in the US. Because many drugs are now developed using biotechnology, the biotechnology and pharmaceutical industries overlap considerably. A separate industry report covers Pharmaceutical Manufacturing.

COMPETITIVE LANDSCAPE

Biotech firms face stiff competition from major pharmaceutical manufacturers and other companies seeking to be first with a new product or discovery. Development is often focused on high-demand, profitable markets such as cancer or rare disease treatment. Biopharmaceutical companies depend on gaining regulatory and insurance coverage approval for new treatments. They may also count on participation in government research or expedited approval programs.

Because the market for potential products is ...