Biotechnology - Planet's Next Big Opportunity

Asia's influence on the global biotech industry is gathering movement. Asia's foray into biotechnology has generated a huge interest in prospective market players due to the sheer market size that has been unused.

Owing to this government of each Asian country has invested in biotechnology, considered as science of future and they are basically the ones who are driving the biotechnology research. In contrast the role played by Private industry is trivial. This is primarily because biotechnology research requires huge investment in infrastructure as well as the returns is quite low in the early years.

China's foray into biotechnology was with a focus on plant genomics and transgenic technology. It was the Asia's only country, which took part in the human genome project. Similarly,India was among the front-runners in biotech projects and is set to emerge as a strong player in the biopharmaceutical market.

Recent report on "Asia Pacific Biotechnology Market (2007-2010)" by RNCOS' also conveyed similar results, as per which, the biotechnology industry in Asia-Pacific is expected to play a vital role in the global biotechnology market in future. The Asia-Pacific region generated estimated revenues worth US$ 39.16 Billion in 2006.

The report also confirmed the Asian governments efforts in making biotechnology a top priority and agreed that the region is largely dependent on the government with very little private participation in most of the countries.

Likewise the report acknowledged the efforts of China and India (among others) in the field of biotechnology and talked about the China's Beijing Genomics Institute that conducted a number of genome sequencing projects including its well-publicized human genome project. The report also agreed that over US$ 10 Billion worth of biopharmaceuticals were scheduled to go off patent by the end of 2006 andIndia, with its unique pharma and biotech skills, can cash in on this opportunity.

Further, the report also addressed some other interesting issues for today's global business environment such as market trends in the Asia-Pacific Biotechnology industry, the role played by the governments and opportunities that can be leveraged by the industry.

The report provides an extensive research and objective analysis of the biotechnology market in Asia-Pacific and help clients in analyzing the opportunities critical to its growth.

via biotechinbrussels.be