The Possibilities Are Endless
Biotechnology is a science-driven industry sector that makes use of living organisms and molecular biology to produce healthcare-related products and therapeutics, or to run processes (such as DNA fingerprinting). Biotechnology is best known for its increasingly important role in the fields of medicine and pharmaceuticals, and is also applied in other areas such as genomics, food production, and the production of biofuels.
Biotechnology was enjoying a golden age even before COVID-19 hit. The pandemic has further highlighted the crucial role this sector plays in global health – and confirms its strategic importance over the long-term. Rapid progress in our understanding of the molecular and genetic bases of life is unleashing extraordinary new opportunities across medicine, energy, manufacturing, materials and more. Many of biotechnology’s products have already transformed our world and they will continue to do so beyond 2020. This sector holds many of the solutions to today’s most urgent global challenges, from fighting pandemics and climate change to building sustainable energy and industrial production systems. Investment is required to deliver these solutions; in return, investors can reap financial, social and ethical rewards.
Biotechnology is no longer the new kid on the block. This 30-year old sector now includes mature, revenue-generating companies, as well as innovative start-ups building new technologies, and new business models. Record levels of private and public investment poured into biotech over the last decade and the sector also enjoys strong government support in many countries. This is only set to continue after the pandemic.