The article discusses the primary approaches to defining the concept of bioeconomics, drawing on accumulated global experience and considering the sustainable development of society. It is demonstrated that both in the near future and long term, the significance of these sectors will continue to grow due to the need to address new threats, such as epidemics and their negative macroeconomic impacts. The relevance of bioeconomics and biotechnology development for achieving sustainable development goals is emphasized, along with the importance of fundamental and applied scientific and space research in this context. The article hypothesizes that an economy based on biotechnology can minimize the environmental impact of human production activities while maximizing profits through improved quality of life, more efficient use of natural resources, and the introduction of new industrial management technologies. Promising directions for the further development of biotechnology in Russia are identified, particularly in biomedicine and biopharmaceuticals, taking global trends into account. Key tasks for integrating Russian biotechnology into the global market in the near and medium term are also formulated.