Biotechnology refers to the use of living organisms or their components, such as cells, enzymes, or genetic material, to develop or modify products, processes, or technologies for specific applications. It is a multidisciplinary field that combines biology, chemistry, genetics, and engineering to harness the power of biological systems for various purposes.
Biotechnology encompasses a wide range of applications, including healthcare, agriculture, industrial processes, and environmental sustainability. In healthcare, biotechnology plays a crucial role in the development of new drugs, therapies, and diagnostics. It involves techniques such as genetic engineering, recombinant DNA technology, and bioprocessing to produce pharmaceuticals, vaccines, and personalized medicine.
In agriculture, biotechnology is utilized for crop improvement, such as developing genetically modified organisms (GMOs) with enhanced traits like increased yield, resistance to pests or diseases, or improved nutritional content. It also involves techniques like tissue culture, marker-assisted breeding, and gene editing to improve plant and animal varieties.
Industrial biotechnology applies biological processes and organisms to produce biofuels, biochemicals, and biomaterials, offering more sustainable alternatives to conventional manufacturing processes. It involves using microorganisms or enzymes to convert renewable resources into valuable products.
Biotechnology also contributes to environmental sustainability by offering solutions for waste management, bioremediation, and renewable energy production. It can help in the cleanup of pollutants, the production of biofuels from biomass, and the development of sustainable materials.
Overall, biotechnology harnesses the inherent capabilities of living organisms and their genetic material to solve complex challenges and improve various aspects of human life, ranging from healthcare and agriculture to industrial and environmental applications.
Futuristic scope –
The field of biotechnology holds immense potential for future advancements and transformative changes in various areas. Here are some potential futuristic scopes of biotechnology:
It's important to note that while these futuristic scopes hold great potential, their realization will depend on continued research, ethical considerations, regulatory frameworks, and societal acceptance. Biotechnology is a rapidly evolving field, and the future may hold even more transformative possibilities beyond what we can currently envision.
Merger & Acquisition –
Merger and acquisition (M&A) activities are common in the biotechnology industry due to the dynamic nature of the sector, the need for research and development investments, and the potential for market consolidation. Biotechnology M&A deals typically involve the acquisition of one company by another, strategic partnerships, licensing agreements, or collaborations to gain access to new technologies, products, or intellectual property. Here are some key aspects and motivations behind biotechnology M&A:
It's important to note that biotechnology M&A deals are subject to regulatory scrutiny, especially regarding antitrust considerations and potential impacts on competition. Additionally, the success of these deals depends on factors such as proper due diligence, integration planning, cultural alignment, and effective post-merger integration strategies.
Overall, biotechnology M&A activities are strategic maneuvers aimed at leveraging synergies, accessing new technologies or markets, and driving growth and competitiveness in a rapidly evolving industry.
Key segments in Biotechnology:
Biotechnology encompasses a wide range of applications and disciplines. Here are some key segments within the field of biotechnology:
These segments are not mutually exclusive, and there is often overlap and collaboration among them. Many advancements and innovations in one segment can have implications and applications in others. The biotechnology field is continuously evolving, and new segments and interdisciplinary areas may emerge as scientific knowledge and technologies progress.
subsegments in Biotechnology:
Within the broader segments of biotechnology, there are several subsegments that focus on specific applications or disciplines. Here are some subsegments in biotechnology:
These subsegments represent specific areas of focus within biotechnology, highlighting the diverse applications and disciplines within the field. Advances in each subsegment contribute to the overall progress and impact of biotechnology on various industries and sectors.
Biotechnology eco-system:
These ecosystems demonstrate the interconnectedness of various stakeholders involved in different aspects of biotechnology, working together to drive innovation, address global challenges, and improve human health, agriculture, industry, and the environment.
Top players:
The field of biotechnology is populated by numerous prominent players, ranging from established multinational companies to emerging startups. While it is challenging to provide an exhaustive list, here are some well-known and influential companies in the biotechnology sector:
It's worth noting that the biotechnology landscape is highly dynamic, and the prominence of companies can change over time due to mergers, acquisitions, and the emergence of new players. The listed companies represent a snapshot of some influential players as of my knowledge cutoff in September 2021, and it is recommended to refer to the latest industry updates and reports for a comprehensive understanding of the current top players in biotechnology.
High grown opportunities:
The field of biotechnology offers a range of high-growth opportunities driven by technological advancements, market demands, and societal needs. Here are some areas that present significant growth potential in biotechnology:
These are just a few examples of the high-growth opportunities within the broad field of biotechnology. As technology evolves and scientific knowledge expands, new opportunities will continue to emerge, creating an exciting and dynamic landscape for biotechnology innovation and entrepreneurship.
Challenges in Biotechnology Industry
The biotechnology industry faces several challenges that impact research, development, commercialization, and the overall growth of the sector. Some of the key challenges include:
Addressing these challenges requires collaboration among industry stakeholders, continuous investment in research and development, supportive regulatory frameworks, and a favorable business environment. Overcoming these hurdles will enable the biotechnology industry to realize its full potential and continue driving innovation and positive impact in healthcare, agriculture, industry, and other sectors.
High CAGR geography
Several geographic regions are experiencing significant growth in the field of biotechnology, demonstrating high Compound Annual Growth Rates (CAGR) in biotechnology-related activities. Some of the notable regions with high CAGR in biotechnology include:
It's important to note that the CAGR in biotechnology can vary within specific countries and regions, depending on factors such as local infrastructure, regulatory frameworks, funding availability, and market demands. Additionally, emerging markets in other regions, such as Africa and Southeast Asia, are also poised for growth and may demonstrate high CAGR in the biotechnology sector in the coming years.
see less
Biotechnology refers to the use of living organisms or their components, such as cells, enzymes, or genetic material, to develop or modify products, processes, or technologies for specific applications. It is a multidisciplinary field that combine ....see more
The global epigenetics market, valued at US$2.03 billion in 2024, stood at US$2.24 billion in 2025 and is projected to advance at a resilient CAGR of 13.9% from 2025 to 2030, culminating in a forecasted valuation of US$4.29 billion by the end of the period.
The global mice model market, valued at US$1.53 billion in 2024, stood at US$1.70 billion in 2025 and is projected to advance at a resilient CAGR of 10.0% from 2025 to 2030, culminating in a forecasted valuation of US$2.74 billion by the end of the period. The growth of this market is driven by several factors, such as rising adoption of mice models in preclinical studies due to genetic & physiological versatility; the increasing demand for mouse clinical trials; the rising demand for personalized medicine in oncology; and advancements in genetic engineering.
The global flow cytometry market, valued at US$4.87 billion in 2024, stood at US$5.06 billion in 2025 and is projected to advance at a resilient CAGR of 8.7% from 2025 to 2033, culminating in a forecasted valuation of US$9.85 billion by the end of the period. The major factors driving the growth in the flow cytometry market include advancements in technology, increasing adoption of flow cytometry products in clinical diagnostics, rising prevalence of chronic diseases, growing biopharmaceutical R&D, and the need for precision medicine.
The global cell culture market, valued at US$27.92 billion in 2024, stood at US$29.76 billion in 2025 and is projected to advance at a resilient CAGR of 11.2% from 2025 to 2030, culminating in a forecasted valuation of US$50.69 billion by the end of the period. Growing opportunities in emerging economies and advancements in 2D and 3D cell culture technology is likely to offer potential growth opportunities in the cell culture market.
The global biopharmaceutical contract manufacturing market, valued at US$20.51 billion in 2024, stood at US$22.40 billion in 2025 and is projected to advance at a resilient CAGR of 8.8% from 2025 to 2030, culminating in a forecasted valuation of US$34.15 billion by the end of the period. The growth is primarily driven by the rising demand for outsourcing services and an increasing need for biologics and biosimilars. However, challenges related to intellectual property rights are anticipated to pose barriers to market growth.
The global in situ hybridization market, valued at US$1.55 billion in 2024, stood at US$1.64 billion in 2025 and is projected to advance at a resilient CAGR of 7.4% from 2025 to 2030, culminating in a forecasted valuation of US$2.35 billion by the end of the period. The growth in the field of in situ hybridization (ISH) is significantly driven by ongoing advancements in technology, including high-sensitivity probes, automated systems, and multiplexing solutions.
The global residual DNA testing market, valued at US$0.27 billion in 2024, stood at US$0.28 billion in 2025 and is projected to advance at a resilient CAGR of 6.0% from 2025 to 2030, culminating in a forecasted valuation of US$0.37 billion by the end of the period. The growth of the Asia Pacific residual DNA testing market is primarily due to increasing number of fundings and investments by pharmaceutical and biotechnology companies for the advancement of the healthcare sector. Additionally, emerging markets in the Asia Pacific is set to enhance the residual DNA testing market growth.
The global exosome research market, valued at US$189.4 million in 2024, stood at US$214.4 million in 2025 and is projected to advance at a resilient CAGR of 17.5% from 2025 to 2030, culminating in a forecasted valuation of US$480.6 million by the end of the period. The growth of the Asia Pacific exosome research market is primarily due to the growing biomedical industry, increasing life science research, and rising investments by pharmaceutical & biotechnology companies in this region.
The global oligonucleotide synthesis market, valued at US$8.9 billion in 2024, stood at US$10.5 billion in 2025 and is projected to advance at a resilient CAGR of 18.6% from 2025 to 2030, culminating in a forecasted valuation of US$24.7 billion by the end of the period. The oligonucleotide synthesis market is experiencing significant growth, driven by the increasing applications of synthesized oligonucleotides in therapeutics & diagnostics. This growth is supported by technological advancements and rising investments in life sciences research and synthetic biology.
The global biomarkers market, valued at US$58.07 billion in 2024, stood at US$62.39 billion in 2025 and is projected to advance at a resilient CAGR of 10.8% from 2025 to 2030, culminating in a forecasted valuation of US$104.15 billion by the end of the period. This growth is supported by the growing use of biomarkers in drug development and the increasing role of companion diagnostics in advancing precision medicine.
Global human leukocyte antigen (HLA) typing for transplant market valued at $1.0B in 2024, reached $1.1B in 2025, and is projected to grow at a robust 6.0% CAGR, hitting $1.4B by 2030. Market growth is driven by an increasing number of transplant procedures worldwide, a shift towards molecular assay technologies for HLA typing, favorable public-private investments and funding for research, and a strong focus by manufacturers on launching high-resolution HLA typing products.
The global CRISPR market, valued at US$2.90 billion in 2024, stood at US$3.21 billion in 2025 and is projected to advance at a resilient CAGR of 11.2% from 2025 to 2030, culminating in a forecasted valuation of US$5.47 billion by the end of the period. The growing demand for CRISPR-based gene therapies, followed by advancements in CRISPR technology, and the rising government and private investments in CRISPR technology support the market growth. The development of new vaccines for the treatment of genetic diseases and the expansion of industrial and agricultural applications are presenting strong growth opportunities for CRISPR in the coming years.
The global single-cell analysis market, valued at US$3.55 billion in 2024, stood at US$3.81 billion in 2025 and is projected to advance at a resilient CAGR of 14.7% from 2025 to 2030, culminating in a forecasted valuation of US$7.56 billion by the end of the period.Growth in this market can be attributed to factors such as the rising incidence of cancer and immunological disorders, technological developments in single-cell analysis products, the growing focus on the advancement of stem cell research, and the increasing focus on the biotechnology sector.
The global collagen & gelatin market, valued at US$1203.9M in 2024, is forecasted to grow at a 5.8% CAGR, reaching US$1,295.5M by 2025 and US$1,671.3M by 2030. Globally, US is the largest market for collagen and gelatin and this trend is expected to continue during the forecast period
The global live cell imaging market, valued at US$2.88 billion in 2024, stood at US$3.13 billion in 2025 and is projected to advance at a resilient CAGR of 8.68% from 2025 to 2030, culminating in a forecasted valuation of US$4.75 billion by the end of the period. Growth in this market is primarily driven by the increasing adoption of high-content screening techniques in drug discovery, the rising incidence of cancer, and the availability of funds for research.
The global humanized mouse and rat model market, valued at US$255.8M in 2024, is forecasted to grow at a 8.2% CAGR, reaching US$276.2M by 2025 and US$409.8M by 2030. The surge in the use of humanized models in drug discovery research, rising demand for personalized medicine, and increasing R&D activities in the pharmaceutical & biotechnology industry are contributing to market growth.
The global cell-based assays market, valued at US$17.36B in 2024, is forecasted to grow at a 9.1% CAGR, reaching US$18.134B by 2025 and US$25.77B by 2030. Growth in this market is primarily driven by the increasing demand for drug discovery and development, the increasing preference for cell-based assays in drug discovery, and the rising prevalence of cancer.
Global immune repertoire sequencing market valued at $344.2M in 2024, reached $354.6M in 2025, and is projected to grow at a robust 9.6% CAGR, hitting $560.5M by 2030. The growth of the Asia Pacific IRS market is primarily due to growing R&D investments and the increasing presence of major industry stakeholders in the region.
Global high content screening market valued at $1.47B in 2024, reached $1.52B in 2025, and is projected to grow at a robust 7.5% CAGR, hitting $2.19B by 2030. Market growth in the Asia Pacific can be attributed to the increased pharmaceutical and biotechnology investments and the rising demand for personalized medicine.
The global analytical standards market, valued at US$1.44 billion in 2022, stood at US$1.53 billion in 2024 and is projected to advance at a resilient CAGR of 5.9% from 2024 to 2030, culminating in a forecasted valuation of US$2.16 billion by the end of the period. The key factors driving the market growth include the stringent regulatory guidelines in the pharmaceutical industry; increasing public-private investments for research projects; the rising public concerns about food safety & quality; and the growing applications of analytical techniques in proteomics and metabolomics.
The global human microbiome market, valued at US$0.62 billion in 2023, stood at US$0.81 billion in 2024 and is projected to advance at a resilient CAGR of 31.5% from 2024 to 2030, culminating in a forecasted valuation of US$4.21 billion by the end of the period. The primary drivers behind the expansion of this industry are the technological advancement in microbiome sequencing, the collaborative efforts between the microbiome industry, organizations, and academia for microbiome research, and the increase in the number of startups and SMEs exploring the microbiome niche, and further opportunities such as the increase in demand for personalized medicine and the emergence of synbiotics may help drive the human microbiome market
The global gene therapy market, valued at US$7.21 billion in 2023, stood at US$8.85 billion in 2024 and is projected to advance at a resilient CAGR of 19.4% from 2024 to 2032, culminating in a forecasted valuation of US$36.55 billion by the end of the period. Market growth is attributed to factors such as the growing demand for curative therapies for genetic disorders, rare diseases, and specific types of cancer, robust clinical trial pipeline for gene therapy and increasing investments in gene therapy research.
The global proteomics market, valued at US$32.98 billion in 2023, stood at US$33.64 billion in 2024 and is projected to advance at a resilient CAGR of 12.4% from 2024 to 2029, culminating in a forecasted valuation of US$60.36 billion by the end of the period. The major factors driving growth in the proteomics market are the growing demand for personalized medicines for clinical practices, rising applications in drug discovery and development, growing government & private funding, clinical trial and translational research expansion, biologics and biosimilars development, increasing focus on monoclonal antibodies and therapeutic proteins, and improved techniques in protein quantification.
The global microcarriers market, valued at US$2.03B in 2023, is forecasted to grow at a 8.0% CAGR, reaching US$2.08B by 2024 and US$3.05B by 2029. Market growth is attributed to rising investments in cell & gene therapy research, growing preference for single-use technologies, and increasing R&D spending for biopharmaceutical production.
Global cell counting market valued at $10.82B in 2023, reached $11.12B in 2024, and is projected to grow at a robust 7.7% CAGR, hitting $16.14B by 2029. Growing awareness and the adoption of automated and fluorescence-based cell counters, supported by declining costs, are enhancing market penetration in the region.
The global peptide synthesis market, valued at US$0.78 billion in 2023, stood at US$0.81 billion in 2024 and is projected to advance at a resilient CAGR of 11.7% from 2024 to 2029, culminating in a forecasted valuation of US$1.41 billion by the end of the period. The peptide synthesis market is driven by the growing demand for therapeutic peptides in treating chronic diseases, including cancer, diabetes, and cardiovascular disorders.
The global mRNA synthesis & manufacturing market, valued at US$2.22 billion in 2023, stood at US$2.23 billion in 2024 and is projected to advance at a resilient CAGR of 5.8% from 2024 to 2029, culminating in a forecasted valuation of US$2.96 billion by the end of the period. The primary drivers behind the expansion of this industry are the Growing focus on mRNA-based vaccine development, expanding therapeutic applications of mRNA technology, advancements in mRNA synthesis technology, increased outsourcing for mRNA synthesis and modification, and collaborations among industry players.
The global next-generation sequencing market, valued at US$12.13 billion in 2023, stood at US$12.65 billion in 2024 and is projected to advance at a resilient CAGR of 13.2% from 2024 to 2029, culminating in a forecasted valuation of US$23.55 billion by the end of the period. The primary growth drivers of the next-generation sequencing market are the surge in the rising demand for precision medicine in identifying genetic mutations and biomarkers, enabling targeted therapies and advancing precision medicine initiatives globally.
The global gene transfer technologies market, valued at US$3.63 billion in 2023, stood at US$3.73 billion in 2024 and is projected to advance at a resilient CAGR of 9.7% from 2024 to 2029, culminating in a forecasted valuation of US$5.93 billion by the end of the period. The increasing usage in vaccine development and applications in cancer immunotherapy; is one of the major factors driving the growth of the gene transfer technologies market.
The global bioconjugation market, valued at US$4.78 billion in 2023, stood at US$5.27 billion in 2024 and is projected to advance at a resilient CAGR of 15.6% from 2024 to 2029, culminating in a forecasted valuation of US$10.86 billion by the end of the period. The bioconjugation market is experiencing significant growth with the advancement of bioconjugation technologies, which increase precision, efficacy, and safety in therapeutic & diagnostic applications.
The global precision diagnostics and medicine market, valued at US$132.46 billion in 2023, stood at US$145.53 billion in 2024 and is projected to advance at a resilient CAGR of 11.1% from 2024 to 2029, culminating in a forecasted valuation of US$246.66 billion by the end of the period. Factors such as the growing integration of AI and ML to enhance precision diagnostics and medicine development supported by rising collaborations between pharmaceutical and diagnostics companies to improve precision healthcare and the rise in direct-to-consumer testing are driving the growth in the market.
The global oligonucleotide CDMO market, valued at US$2.33 billion in 2023, stood at US$2.51 billion in 2024 and is projected to advance at a resilient CAGR of 21.8% from 2024 to 2029, culminating in a forecasted valuation of US$6.73 billion by the end of the period. The increasing focus on precision/personalized medicine is also likely to contribute to market growth. Growing opportunities offered by emerging economies are accelerating innovation in the oligonucleotide CDMO field.
The global single-use assemblies market, valued at US$2.52 billion in 2023, stood at US$2.63 billion in 2024 and is projected to advance at a resilient CAGR of 13.2% from 2024 to 2029, culminating in a forecasted valuation of US$4.89 billion by the end of the period. The single-use assemblies market is experiencing significant growth with technological advancements.
The global biotech industry market size is estimated to grow from USD 483.0 billion in 2024 to USD 546.0 billion by 2025, at a growth rate of ~13.0%. The industry will see expanded use of biologic drugs, such as monoclonal antibodies and gene therapies, especially for complex diseases like cancer, genetic disorders, and autoimmune conditions.
The global spatial genomics & transcriptomics market, valued at US$532.7 million in 2023, stood at US$554.5 million in 2024 and is projected to advance at a resilient CAGR of 12.4% from 2024 to 2029, culminating in a forecasted valuation of US$995.7 million by the end of the period. Market growth is attributed to factors such as increasing adoption of spatial genomics and transcriptomics in drug discovery and development, increasing pharmaceutical R&D investments and public-private funding, introduction of technologically advanced instruments for spatial genomics analysis, and the introduction of novel products are driving the growth of the spatial genomics & transcriptomics market.
The global cell therapy technologies market, valued at US$3.89 billion in 2023, stood at US$4.03 billion in 2024 and is projected to advance at a resilient CAGR of 11.0% from 2024 to 2029, culminating in a forecasted valuation of US$6.80 billion by the end of the period. The cell therapy technologies market is experiencing robust growth, driven by advancements in regenerative medicine, rising investment in R&D, and the increasing prevalence of chronic and rare diseases.
The global vaccine adjuvants market, valued at US$0.66 billion in 2023, stood at US$0.70 billion in 2024 and is projected to advance at a resilient CAGR of 6.5% from 2024 to 2029, culminating in a forecasted valuation of US$0.96 billion by the end of the period. Growing awareness about livestock health, increasing the adoption of companion animals and developing of therapeutic vaccines for cancer, allergies, and autoimmune disorders are creating lucrative growth opportunities
The global pharmaceutical filtration market, valued at US$12.90 billion in 2023, stood at US$13.31 billion in 2024 and is projected to advance at a resilient CAGR of 9.5% from 2024 to 2029, culminating in a forecasted valuation of US$20.97 billion by the end of the period. Market growth is attributed to factors such as the increasing production of biologics and biopharmaceutical drugs, growing adoption of single-use technologies, and rising R&D spendings in pharmaceutical and biotechnology industries.
The global animal genetics market, valued at US$2.76 billion in 2023, stood at US$2.97 billion in 2024 and is projected to advance at a resilient CAGR of 7.1% from 2024 to 2029, culminating in a forecasted valuation of US$4.19 billion by the end of the period. Market growth is largely driven by factors such as the increasing consumption of animal-derived protein, growing global population & rapid urbanization, growing customer awareness, increasing demand for companion animals, focus on superior breeds, and an emphasis on genetic services to prevent genetic diseases & business loss.
The global human organoids market, valued at US$1.07 billion in 2023, stood at US$1.19 billion in 2024 and is projected to advance at a resilient CAGR of 14.4% from 2024 to 2029, culminating in a forecasted valuation of US$2.33 billion by the end of the period. The main factor driving this market is the rising demand for organoids in drug testing, as they provide more reliable results than conventional 2D cell cultures.
The global gene editing market, valued at US$4.44 billion in 2023, stood at US$4.66 billion in 2024 and is projected to advance at a resilient CAGR of 10.2% from 2024 to 2029, culminating in a forecasted valuation of US$7.59 billion by the end of the period. The main factors driving the expansion of this market are the demand for personalized medicine and favorable government funding for gene editing projects.
The global genomics market, valued at US$42.4 billion in 2023, stood at US$42.6 billion in 2024 and is projected to advance at a resilient CAGR of 9.4% from 2024 to 2029, culminating in a forecasted valuation of US$66.8 billion by the end of the period. The main factors driving the expansion of this market are increasing government funding for genomics projects, the rising application of NGS in chronic disorders, and the growing use of genomics.
The global synthetic biology market, valued at US$11.97 billion in 2023, stood at US$12.33 billion in 2024 and is projected to advance at a resilient CAGR of 20.6% from 2024 to 2029, culminating in a forecasted valuation of US$31.52 billion by the end of the period. Some of the prominent factors driving the growth of the market include the rising demand for bio-based products, increased funding in R&D, and collaborations.
The global protein expression market, valued at US$3.34 billion in 2023, stood at US$3.41 billion in 2024 and is projected to advance at a resilient CAGR of 7.1% from 2024 to 2029, culminating in a forecasted valuation of US$4.82 billion by the end of the period. This growth is driven by the increasing demand for biologics, rising R&D investments in the pharmaceutical and biopharmaceutical sectors, and the growing use of artificial intelligence and machine learning to improve protein structure and function predictions.
The global lipid nanoparticles market, valued at US$261.8 million in 2023, stood at US$271.8 million in 2024 and is projected to advance at a resilient CAGR of 5.2% from 2024 to 2029, culminating in a forecasted valuation of US$350.5 million by the end of the period. The growth of this market can be attributed to factors such as the development of lipid nanoparticle-based pharmaceuticals and the expanding application of lipid nanoparticles in anti-cancer and mRNA-based therapies.
The global non invasive prenatal testing market, valued at US$6.4 billion in 2023, stood at US$7.2 billion in 2024 and is projected to advance at a resilient CAGR of 14.5% from 2024 to 2029, culminating in a forecasted valuation of US$14.1 billion by the end of the period. The primary growth factors propelling this market include spiking investments, incentives, and support from both state governments and private companies, which are driving access to and demand for NIPT technologies.
The global immunohistochemistry market, valued at US$3.4 billion in 2023, stood at US$3.7 billion in 2024 and is projected to advance at a resilient CAGR of 7.2% from 2024 to 2029, culminating in a forecasted valuation of US$5.2 billion by the end of the period. The increasing number of cancer cases is one of the key factors driving the uptake of IHC products, which, in turn, leads to a greater need for accurate and efficient diagnostic tools such as IHC tests.
The global long-read sequencing market, valued at US$596 million in 2023, stood at US$758 million in 2024 and is projected to advance at a resilient CAGR of 32.8% from 2024 to 2029, culminating in a forecasted valuation of US$3,129 million by the end of the period. The main forces behind the growth of this market are the rising frequency of complex genetic disorders, expanding applications of long-read sequencing, and the technological development in genome sequencing aiding in the adoption of third-generation sequencing.
The global label free detection market, valued at US$479 million in 2023, stood at US$515 million in 2024 and is projected to advance at a resilient CAGR of 7.7% from 2024 to 2029, culminating in a forecasted valuation of US$747 million by the end of the period. Growth in the label-free detection market can be attributed to factors such as technological development in label-free detection, expanding academic-industrial alliances for drug discovery programs, high sensitivity of label-free technologies and rising R&D expenditures in biotechnology and pharmaceuticals companies help to explain growth in the label-free detection market.
The global single-use bioreactors market, valued at US$4.1 billion in 2023, stood at US$4.4 billion in 2024 and is projected to advance at a resilient CAGR of 15.4% from 2024 to 2029, culminating in a forecasted valuation of US$9.1 billion by the end of the period. Advantages over conventional bioreactors, lower capital investment, reduced water and energy usage, the expanding biologics and biosimilars markets, and increased adoption among CDMOs, CMOs, and SMEs are some of the factors driving market growth.