Biotechnology Market Projected To Reach USD 3,879.51 Billion By 2030
San Francisco, 10 Aug 2022: The Report Biotechnology Market Size, Share & Trends Analysis By Technology (DNA Sequencing, Fermentation), By Application (Health, Bioinformatics), By Region (North America, EU, APAC), And Segment Forecasts, 2022 - 2030 The global biotechnology market size is expected to reach USD 3,879.51 billion by 2030, registering a CAGR of 13.9% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by factors including the advent of innovative and advanced technologies, significant investments & government initiatives favoring the biotechnology industry, and rising demand for synthetic biology applications. Biotechnology startups are acquiring robust funding support and venture capital investments, which, in 2021, amounted to USD 41 billion; an increase of over 11% as compared to the previous year’s USD 36.7 billion. Notable funding rounds included Caris Life Sciences’ $830 million in May 2021 for its precisi