The primary goal of the biotechnology industry is to invent new biologically-active substances, for the treatment of disease, the pharmaceutical industry, and the management of agriculture.
The U.S. is the world leader in biotechnology, currently providing employment for more than 300,000 people in over 6,000 U.S. biotech companies, with an estimated market capitalization of approximately USD 281 billion in 2008. The biotechnology industry has more than tripled in size since 2000, with revenues increasing from USD 25 billion in 2000 to more than USD 80 billion in 2008. In 2007, Amgen, Inc., the world's largest biotechnology company, achieved total sales of USD 14.7 billion. Expectations are that the biotechnology market will increase to more than USD 130 billion by 2011.
Geographically, the U.S. accounts for 65% of the biotechnology market, Europe 23%, Canada 7%, Australia 3%, and the rest of the world, 2%.