Biotechnology is one industry that's focused on making our lives better, increasing our quality of life as well as our lifespan by marrying cutting-edge innovations with healthcare. The biotechnology field combines biology, chemistry, engineering, and technology like computer science and artificial intelligence (AI) to manipulate living organisms and their products for beneficial use. In simpler terms, it's the science of using living things (or parts of living things) to develop new products or technologies.
Primarily used in medicine, biotech has applications in the development of agricultural and industrial products, as well. The global biotechnology market is expected to clock a CAGR of 11.8% between 2024 and 2033, to reach a size of $4.25 trillion.
