The global biotechnology market grew by 7.7% in 2011 to reach a value of $281.7 billion.
In 2016, the global biotechnology market is forecast to have a value of $453.3 billion, an increase of 60.9% since 2011.
Medical/healthcare is the largest segment of the global biotechnology market, accounting for 67.4% of the market's total value.
Americas accounts for 45% of the global biotechnology market value.
The market in Asia is growing rapidly. China is already 8% of the worldwide healthcare market. China is one of the leading biotech nations in the world, with value estimated to reach US$ 130 billion by 2015
The biotechnology sector in India is expected to achieve revenue of US$ 11.6 billion by 2017, growing at a compound annual growth rate (CAGR) of 22 per cent, according to a recent report by Ernst & Young (E&Y). The key growth drivers of the US$ 4.3 billion industry include strong domestic demand for biotech products, growth in contract services, focus on R&D initiatives and strong government support for the sector.
Revenue from biotech exports reached US$ 2.2 billion in FY13, accounting for more than half (51 per cent) of total industry revenues. During FY05 and FY13, revenue from exports increased at a CAGR of 25.1 per cent to US$ 2.2 billion from US$ 0.4 billion.