Biotechnology in the United States
In 2015, the United States was the world leader in biotech market capitalization, revenue, and the number of public biotech companies.1 In 2020, the U.S. biotech market produced around $113.3 billion in revenue.2 Biotechnology continues to grow, with the global biotech market projected to reach $727.1 billion by 2025.3 As a result, biotech employment rates in the U.S. are expected to rise at a faster-than-average rate of 11% between 2016 and 2026.4
Educational and Career Opportunities
The biotechnology industry consists of thousands of companies, academic institutions, and government agencies. As the field continues to develop, scientists are uncovering medical, environmental, agricultural, and industrial applications for new products and services. This progress is helping drive employment rates higher and increasing the need for workers with biotechnology backgrounds.
Biotechnology education gives students a variety of academic and career options across the U.S. Students can focus on a specific aspect of the industry that interests them and works with their talents. Many metropolitan areas in the U.S. have biotech research and testing labs, pharmaceutical or medical device companies, and agricultural product facilities. As of 2019, the three top biotech areas in the U.S. were San Diego, Boston, and Raleigh-Durham-Chapel Hill.5
Biotechnology continues to promote economic growth in the U.S. and improve quality of life. As innovative fields like genetics and regenerative medicine expand, biotechnology continues to provide a wonderful opportunity for students who thrive in the sciences.
Read the Biotechnology Innovation Organization’s “National Bioscience Report Shows Industry Creating Jobs and Driving Innovation” press release6 to learn more.
References:
- Biotechnology Degrees & Careers in Biotechnology, Learn How To Become
- Biotechnology in the US Market Size 2005–2026, IBISWorld
- Biotechnology Market Size Worth $727.1 Billion by 2025, Grand View Research
- What Is the Employment Outlook for Biotech Careers? Learn.org
- What are America’s top biotech centers? New Milken Institute study shows which metros lead in regional race to dominate this key industry, Milken Institute
- National Bioscience Report Shows Industry Creating Jobs and Driving Innovation, bio.org