Biotech Sector Outlook: 2024 Industry Data & Insights

The biotechnology industry has significantly grown with advancements in genetic editing and personalized medicine, transforming from healthcare to agriculture. This biotech sector outlook explores key market data as well as emerging areas of innovation and their implications for companies worldwide.

The Biotech Sector Outlook presents an analysis of a sector actively contributing to innovation and global health solutions. As the world navigates complex challenges, from pandemics to precision medicine, biotechnology plays a significant role. This report offers a data-driven overview of the industry’s growth, highlighting key trends, investment patterns, and startups influencing the future.

This biotechnology industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Biotech Sector Outlook 2024


Executive Summary: Biotechnology Industry Outlook 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 4000+ biotechnology startups developing innovative solutions to present five examples from emerging biotechnology industry trends.

  • Industry Growth Overview: The biotechnology sector experienced a 1.95% growth over the past year with 94000+ companies listed, demonstrating its steady expansion.
  • Manpower & Employment Growth: The industry has seen an increase of 564K workers, indicating a demand for skilled manpower in a global pool of over 9 million.
  • Patents & Grants: It has been awarded over 257000 patents and more than 38000 grants, showing a high level of innovation and research activity.
  • Global Footprint: Country hubs include the US, India, UK, Germany, and Canada, with city hubs such as London, New York City, San Francisco, San Diego, and Boston.
  • Investment Landscape: With an average investment of USD 45.3 million and over 57000 funding rounds, the investment landscape is vibrant, supported by over 11000 investors.
  • Top Investors: Leading investors such as RA Capital Management, OrbiMed, and more have collectively invested over USD 19 billion.
  • Startup Ecosystem: Highlights include Gencovery (R&D Ecosystem), Ideelab Biotecnologia (Biological Products), Corryn Biotechnologies (Wound Dressing), Pure Ocean Algae (Micro-algae Production), and BioShed (Bioinformatics).
  • Recommendations for Stakeholders: Prioritize investments in cutting-edge research areas like gene editing and biopharmaceuticals. Emphasize collaboration with academia and industry partnerships to foster an ecosystem that accelerates the translation of scientific discoveries into market-ready solutions.

Explore the Data-driven Biotech Industry Outlook for 2024

The Biotechnology Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The industry has seen a 1.95% growth in the last year, underscoring a steady advancement despite global economic challenges. With over 94000 companies in our database, the biotech sector displays considerable scope and diversity.

There’s an increase of 564000 employees in the past year to the 9.1 million global workforce, reflecting the industry’s robust demand for skilled manpower.

The heatmap underscores the global distribution of 4200+ biotechnology startups, indicating a wide geographical spread of biotech innovation. These startups are contributing to the substantial number of patents, over 257000, and more than 38000 grants awarded, reflecting intense research activity and innovation within the field.

Additionally, the United States, India, the United Kingdom, Germany, and Canada are the top country hubs for the biotech industry’s development. The city hub includes London, New York City, San Francisco, San Diego, and Boston, serving as strategic centers for biotech innovation and collaboration.

What data is used to create this biotechnology industry report?

Based on the data provided by our Discovery Platform, we observe that the biotechnology industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The biotechnology industry had over 31000 publications last year, showing broad media coverage.
  • Funding Information: Our database records more than 57000 funding rounds, demonstrating significant investment activity.
  • Manpower: With a workforce surpassing 9 million, the sector added over 564000 new employees last year.
  • Patents: The industry holds a significant position in innovation, with more than 257000 patents.
  • Grants: The field also excels in research funding, securing over 38000 grants.
  • and more. Book a demo to explore all data points used to create this Biotechnology report.

A Snapshot of the Global Biotechnology Industry

With a workforce of 9.1 million, the industry showcases its critical role in employment and innovation. It has added over 564000 new employees over the last year, underscoring the sector’s dynamism and its capacity to generate jobs.

Further, the industry’s vitality is reflected in the diversity and scope of its corporate landscape, hosting over 94000 companies. This fosters a competitive environment and drives innovation, with firms ranging from startups to established corporations contributing to the sector’s development.

Explore the Funding Landscape of the Biotechnology Industry

The average investment value in the sector is USD 45.3 million, indicating the high stakes involved and the confidence investors place in biotechnological advancements. This level of investment is supported by a vast network of over 11000 investors, ranging from venture capitalists to institutional entities, all contributing to the ecosystem’s vibrancy and potential for groundbreaking discoveries.

Moreover, the industry’s dynamism is further evidenced by the completion of over 57000 funding rounds, demonstrating its active financial engagement. These rounds have directed resources into more than 20000 companies, underscoring the sector’s scope and the diverse opportunities it presents for both new entrants and established players.

This investment activity not only fuels the advancement of medical and technological frontiers but also solidifies the Biotechnology industry’s role as a key driver of economic growth and societal progress. Through these investments, the sector continues to push the boundaries of science, offering possibilities for new treatments, sustainable solutions, and technological breakthroughs that could shape the future of humanity.


Who is Investing in the Biotechnology Industry?

The collective investment by the top investors exceeds USD 19 billion, demonstrating the sector’s appeal and its important role in advancing medical and technological innovation.

  • RA Capital Management has invested USD 3 billion into 98 companies, showing its dedication to promoting innovation across the biotech landscape.
  • OrbiMed follows with investments of USD 2.8 billion in 92 companies, highlighting its important role in supporting innovative biotechnological research and development.
  • Perceptive Advisors has invested USD 2.1 billion in 58 companies, showing its strategic focus on entities with high potential within the sector.
  • Goldman Sachs has invested USD 2.1 billion in 17 companies with a selective approach, reflecting its confidence in the transformative potential of its chosen ventures.
  • Deerfield has allocated USD 2 billion across 41 companies, reinforcing its role as a key player in the biotech investment sphere.
  • Gurnet Point Capital has invested USD 1.8 billion in 7 companies, indicating a focused investment strategy within the biotech sector.
  • New Enterprise Associates has invested the same amount, USD 1.8 billion, but into a larger portfolio of 61 companies, showing its widespread support across the industry.
  • Hercules Capital has invested USD 1.8 billion in 23 companies, indicating a strategic blend of focus and diversity.
  • Oxford Finance has also contributed USD 1.8 billion, supporting 29 companies, reflecting its role in promoting innovation across different biotech domains.
  • European Investment Bank matches these investments with USD 1.8 billion in 38 companies, underlining its impact on the European biotech landscape and beyond.

These investments highlight the varied approaches and strategies employed by key players in the biotech investment community, illustrating a shared belief in the sector’s potential and the unique pathways each investor takes to promote growth and innovation.

Delve into the intricate world of biotechnology industry trends. Understand the significance of life sciences solutions, pharmaceutical biotechnology, and biochip technology, each with its unique influence and trajectory. This exploration is backed by comprehensive firmographic data, offering a detailed perspective of the industry’s landscape.

  • The life sciences solutions are growing within the biotech industry, with 7200+ companies currently operating in this area. Over 662000 individuals work in this sector, and 42600 new employees joined in the last year. The sector is expanding at an annual trend growth rate of 0.85%, reflecting its role in advancing life sciences research, development, and application. The sector’s growth responds to the rising demand for innovative solutions in healthcare, research, and diagnostics.
  • Pharmaceutical biotechnology is an essential part of the biotech industry, with 3000+ companies contributing to medical science and healthcare. This area employs nearly 298000 people, and it grew by 16600 employees in the past year. It has an annual trend growth rate of -0.99%. This slight decline could indicate a period of consolidation or increased productivity through technological advancements. Pharmaceutical biotechnology continues to contribute to drug discovery, personalized medicine, and therapeutic innovations.
  • Biochip technology, represented by 268 companies, is becoming more important in the biotech industry, particularly in diagnostics and research. It employs 20600 people and added 1400 new staff in the last year. It is experiencing an annual trend growth rate of -2.17%. Biochips are crucial for advancements in genomics, proteomics, and cellular analysis, providing compact, efficient solutions for complex biological assays and significantly contributing to the acceleration of biomedical research and diagnostic capabilities. Explore all biotechnology trends with a platform demo today.

5 Top Examples from 4000+ Innovative Biotechnology Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Gencovery creates an R&D Ecosystem

French startup Gencovery develops Constellab, a software that digitizes complex R&D projects and democratizes access to AI and data. Its collaborative dashboard presents a comprehensive view of workspaces. These workspaces, secured and isolated, manage individual, enterprise, and collaborative R&D projects. Within a single workspace, it’s possible to create multiple projects. These project spaces enable better control and management of team knowledge and intellectual property. Digital labs, secured and equipped with high-performance computing environments, are dedicated to analyzing R&D data. Constellab also offers interactive visualizations that aid scientists in interpreting their complex R&D data.

Ideelab Biotecnologia develops Biological Products

Brazilian startup Ideelab Biotecnologia develops biological solutions for the agricultural sector. Its Discovery platform identifies and characterizes microorganisms and metabolites to develop bioproducts. The Validation platform evaluates selected strains and their metabolites through specifically designed experiments. This platform generates data related to plant nutrition, phytopathogen control, soil microbiota modulation, and gene expression. Further, Bioprospecting platform expands the microorganism collection with new bacteria and fungi strains. Lastly, Go-to-Market platform provides necessary guidance for businesses to transform the innovation developed with Ideelab into a market-ready product.

Corryn Biotechnologies offers In situ Wound Dressing

UK startup Corryn Biotechnologies produces and applies biomimetic nano- and micro-fibrous wound dressings directly on wound sites. Its handheld device, HEALS, carries sealed sterile cartridges filled with proprietary material formulations. The startup’s technology relies on electrospinning, a method that transforms these formulations into fibrous substrates. This device applies these materials onto wounds, covering the wound surface while remaining breathable. The dressings are applied without causing discomfort to the patient and enhance their natural healing response.

Pure Ocean Algae facilitates Micro-algae Production

Irish startup Pure Ocean Algae specializes in the production of environmentally friendly organic algae. It creates vertically integrated value chains from macro-algae and other marine resources. The startup’s products include a variety of seaweeds such as Dulse, Red, and Brown. Its products find use in the pharmaceutical sector and food/vegetable protein sectors. Further, Pure Ocean Algae has “Green” credentials, utilizing raw material that is entirely sustainable and ultimately reduces carbon.

BioShed provides Bioinformatics Infrastructure

US startup BioShed specializes in providing bioinformatics tools. Its product, BioShed OS, serves as a cloud-based bioinformatics operating system. BioShed Atlas offers an interface for searching and downloading publicly available genomic datasets. BioShed Shuttle is another tool that simplifies the process of transferring sequencing files from the sequencer, laptop, or server to the cloud storage. Lastly, BioShed Portal provides a secure, web-based interface for sequencing data, promoting collaboration and file-sharing.

Looking for Comprehensive Insights into Biotechnology Trends, Startups, or Technologies?

From the exploration of the biotech sector outlook, it’s clear that the sector is on the brink of a transformative leap. The advent of personalized medicine, AI-aided drug discovery, and synthetic biology are revolutionizing healthcare and environmental sustainability. Book a platform demo to explore all 4000+ startups and scaleups, as well as all industry trends impacting biotechnology companies.

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