Bioconjugation Market Experiences Uptake in Molecular Imaging

The global bioconjugation market was valued at USD 5.64 billion in 2024 and is expected to reach USD 9.67 billion by 2030, expanding at a CAGR of 9.54% from 2025 to 2030. Market growth is primarily supported by the increasing demand for targeted drug delivery systems, continued advancements in biopharmaceutical development, and rising research and development investments across healthcare and biotechnology sectors. Bioconjugation technologies play a vital role in enhancing drug specificity, therapeutic efficacy, and diagnostic precision, making them increasingly integral to modern medical innovation.

Key Market Trends & Insights

• North America accounted for the largest revenue share of 43.75% in 2024
• Consumables dominated the product & services segment with a 45.45% share in 2024
• Chemical conjugation led the market by technique, capturing 42.46% revenue share in 2024
• Therapeutics emerged as the leading application segment with 57.77% revenue share in 2024
• Pharmaceutical & biotechnology companies represented the largest end-use segment with 47.78% share in 2024
• Asia Pacific is anticipated to register the fastest growth during the forecast period

Market Size and CAGR

• 2024 Market Size: USD 5.64 Billion
• 2030 Projected Market Size: USD 9.67 Billion
• CAGR (2025–2030): 9.54%
• Largest Regional Market (2024): North America
• Fastest Growing Region: Asia Pacific

Key Market Trends and Insights

The bioconjugation market continues to expand due to its growing applications across diagnostics, therapeutics, and biomaterials. Increased collaboration between biotechnology firms and pharmaceutical companies is accelerating innovation and technology adoption. These partnerships are supporting the development of advanced antibody-drug conjugates, imaging agents, and biomolecular tools, positioning bioconjugation as a foundational technology in next-generation medical treatments.

Pharmaceutical and biotechnology companies increased R&D spending, driving innovation in protein and antibody conjugation. Additionally, heightened government funding and public-private partnerships strengthened market expansion and reinforced the strategic importance of bioconjugation in managing emerging infectious diseases and future healthcare challenges.

Rising demand for targeted drug delivery remains a key growth driver. Advances in antibody-drug conjugates, nanomedicine, and personalized medicine have enabled more precise therapies with reduced adverse effects. The growing prevalence of chronic conditions such as cancer and autoimmune disorders has further increased reliance on bioconjugation technologies in drug development. Regulatory support and strategic collaborations across the industry continue to foster innovation and accelerate commercialization.

Moreover, the expanding use of bioconjugation in diagnostics, therapeutics, and biomaterials is broadening market opportunities. Applications in biomarker detection, advanced imaging, regenerative medicine, and biomaterial engineering are driving technological advancements. Increasing collaboration among research institutions, pharmaceutical companies, and biotech firms is enhancing product development and widening the scope of bioconjugation-based solutions.

Order a free sample PDF of the Bioconjugation Market Intelligence Study, published by Grand View Research.

Key Bioconjugation Company Insights

Industry participants are actively engaging in mergers, acquisitions, and strategic partnerships to strengthen market positioning and expand technological capabilities. Leading pharmaceutical and biotechnology companies are acquiring specialized bioconjugation technology providers to enhance antibody-drug conjugate pipelines and drug delivery platforms. Partnerships with contract research and manufacturing organizations are also enabling efficient R&D processes and scalable production.

Ongoing investments in product innovation are intensifying competition, with a strong focus on linker technologies, site-specific conjugation approaches, and precision medicine applications to gain a competitive advantage.

Key Bioconjugation Companies

• Thermo Fisher Scientific
• Danaher
• Lonza Group
• Merck KGaA (MilliporeSigma)
• Sartorius AG
• AbbVie, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Catalent, Inc.
• BD

Conclusion

The bioconjugation market is poised for sustained growth through 2030, supported by rising demand for targeted therapies, expanding diagnostic applications, and continued advancements in biotechnology. Strong R&D investments, favorable regulatory environments, and strategic collaborations are accelerating innovation across the value chain. As precision medicine and advanced therapeutic platforms gain traction globally, bioconjugation will remain a critical enabling technology, reinforcing its long-term significance in healthcare and life sciences.

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.