Biotechnology Market Growth Forecast: USD 1.73 Trillion in 2023 to USD 4.85 Trillion by 2032
The global biotechnology market was valued at USD 1.73 trillion in 2023 and is projected to reach USD 4.85 trillion by 2032, expanding at a robust CAGR of 13.78% during the forecast period from 2024 to 2032. This remarkable growth is driven by breakthroughs in genetic engineering, molecular biology, and computational biology, which are revolutionizing healthcare, agriculture, and environmental sectors.