Yes, biotechnology could change life as we know it. For instance, nano-robots could repair human tissues in order to extend life. Cataracts could be removed using these tiny robots. If people could live life indefinitely there would be an even larger struggle for resources since the population would boom due to a lack of natural deaths.
Biotechnology will change life as we know it. We can easily see this, because we can see how it has already changed life. People are living much longer, healthier lives than they were. With each new generation, biotechnology helps give them a greater chance at a longer life. Like any technology, biotech will continue to change the way people experience life.
The biggest change we could see with biotechnology is something called bio printing. This is when you can begin to "print" out body parts, or even food. This would simultaneously end world hunger and end the reliance on organ donors. Aside from that, your own genes can be used to grow the organs.
Advances in biotechnology could change life as we know it, because so many new things have already happened. We can now have in-vitro fertilization if we cannot conceive naturally. We are even close to test tube babies. There are infinite possibilities in the future and biotechnology will make it possible.