Biotech
Biology in medicines, manufacturing and recycling.
Biotech companies use biology to develop medicines and other products. Our coverage focuses on treatments that replace a missing protein, change an immune response or address a genetic fault. Turning that science into a business requires evidence that a treatment works and has acceptable safety, followed by the ability to supply it to the right patients and secure payment.
Small developers often work with larger pharmaceutical companies to move a treatment through development and towards patients. Others take on more of that work themselves. These different routes help explain why biotech includes both research-led businesses and companies already selling medicines.
Biology also has uses beyond medicine. Carbios develops enzymes that break down PET plastic so its ingredients can be reused. This brings a different business challenge: turning a working recycling process into plants that customers can afford to build and run.
Market size & opportunity
The broader spending backdrop is large: IQVIA’s March 2026 outlook projects the global medicines market at approximately US$2.6 trillion in 2030, before the full effect of rebates and discounts. That includes medicines well beyond biotech. It also combines treatments for very different populations, so it cannot tell us the market available to a particular rare-disease therapy or obesity medicine.
The needs vary greatly within that market. A treatment for a rare genetic condition serves a different group from a medicine for a widespread chronic illness. The number of patients who can receive it, available alternatives and healthcare funding all affect how widely it can be used.
Market outlook
Biologic medicines
Worldwide · US$ billion per year
- 2024Estimate499.2
- 2029Forecast794.5
The chart covers biologic medicines, one part of biotechnology and pharmaceuticals. Within it, a treatment’s market depends on eligible patients, approvals, competing therapies and reimbursement.
BCC ResearchForecast published
Recent progress
Gene therapy shows how a scientific approach can reach a defined group of patients. On 30 June 2026, Itvisma received EU authorisation for a specified genetic form of spinal muscular atrophy in patients aged two and older. It delivers a functional copy of the SMN1 gene. That approval establishes a permitted use, yet access and reimbursement still need to be addressed in individual countries.
Sources
- Carbios · Technology and industrial development
- EMA · Biotechnology
- IQVIA Institute · Global medicine outlook, March 2026
- EMA · Itvisma authorisation and product information, July 2026
Updated
Research & reports
European tech stocks in Q3 2026
Chipmaking equipment, maritime robots, satellites, cybersecurity and RNA editing. Five developments that offer a closer look at the businesses behind European tech stocks.
How Europe built its technology giants
The histories of ASML, SAP, Rolls-Royce, Novartis and BAE Systems offer a reason to look more closely at Europe’s smaller companies today.