US Biotechnology Industry Overview

The US biotechnology industry, comprising approximately 1,500 companies, boasts combined annual revenue of about $70 billion. Major players in this sector include Amgen, Biogen Idec, Genentech, Genzyme, Life Technologies, and Monsanto, which are driving innovation through biotech research in medicine, agriculture, food, and science. The industry's profitability is largely dependent on the successful discovery and marketing of new products, with individual companies experiencing high revenue per worker, exceeding $350,000 on average.

Key Takeaways:

• The US biotechnology industry consists of approximately 1,500 companies with combined annual revenue of $70 billion.
• Major companies in this sector include Amgen, Biogen Idec, Genentech, Genzyme, Life Technologies, and Monsanto.
• The industry's profitability depends on the discovery and effective marketing of new products.
• Biotech firms face stiff competition from pharmaceutical and other companies seeking to be first with a new product or discovery.
• The industry is capital intensive, with average annual revenue per worker exceeding $350,000.
• Biotechnology research drives innovation in medicine, agriculture, food, and science.
• The demand for biotechnology research is driven by insurers' willingness to pay for new medical treatments, the global need to produce more food, and scientists' desire to find solutions for complex scientific and medical issues.

Statistics:

• 1,500 companies comprise the US biotechnology industry.
• The combined annual revenue of the US biotechnology industry is approximately $70 billion.
• Average annual revenue per worker in the biotech industry exceeds $350,000.
• Major biotech companies include Amgen, Biogen Idec, Genentech, Genzyme, Life Technologies, and Monsanto.

Sources:

• Research and Markets
• "Biotechnology Sector" report (http://www.researchandmarkets.com/report/5c1444/biotechnology-sectors)
• First Research