U.S. Leads Global Biotech for 15 Years as China Gains; South Korea Expands CDMO Footprint

The number of publicly listed biotech companies and biotech patent filings has continued to rise worldwide, with the United States holding the top spot for 15 years. With expectations that Asia led by China will expand, South Korean biotech companies are accelerating efforts to secure global production hubs, led by contract development and manufacturing (CDMO).

Data released Tuesday by the Korea Institute of Science and Technology Information (KISTI) showed the number of biotech companies listed on stock exchanges worldwide rose to 2,787 in 2022 from 1,542 in 2009, an average annual increase of 4.68%. By country over the past 15 years from 2009 to 2023, U.S.-based companies accounted for the largest share at 28.86%, followed by China, India and Canada. South Korea ranked fifth with 5.18%.

Companies listed on the Nasdaq made up the biggest portion at 18.46%, while firms listed on South Korea’s KOSDAQ and KOSPI accounted for 6.1%.

The United States also led biotech patent filings over the past 15 years, with a 17.54% share, followed by China at 12.51% and Japan at 9.74%. China’s share more than doubled over the period and ranked first in 2021 at 15.5%. South Korea held fifth place at 4.99%. 

As the market remains heavily weighted toward the United States, some analysts expect Asia’s market — centered on China — to expand over the medium to long term. South Korean companies are responding with large investments, including in U.S. production facilities to build global footholds.  

Samsung Biologics, Celltrion and Lotte Biologics have been expanding U.S. manufacturing bases. Samsung Biologics said it completed the acquisition of GlaxoSmithKline’s plant in Rockville on March 31 local time. Celltrion said it completed the acquisition of a Branchburg, New Jersey, facility from Eli Lilly on Dec. 31 and began full operations in January.

Lotte Biologics was the first among them to secure a U.S. production base, acquiring a 40,000-liter facility in Syracuse, New York, from Bristol Myers Squibb in 2022 and operating it. Combined, the three companies’ U.S. biologics production capacity totals 166,000 liters.

An industry official said U.S. facilities would play key roles by easing tariff risks, strengthening responses to global clients and diversifying supply chains.

Some have called for policy support, including expanded institutional investment and government incentives to encourage sustained capital inflows from overseas.

In its report, KISTI said, “Especially for patent filings, a strategy appears necessary to respond to U.S. technological leadership and China’s quantitative expansion,” adding that companies should be guided to shift R&D toward “qualitative innovation” so they can move from quantity to quality in technology development.