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Biotechnology

What is the biotechnology industry?

The biotechnology industry is an innovative and recently developed sector. It began its development circa 1970 and has been progressing since. It focuses on using biology and computer research to create various solutions, with more than 22,100 companies engaged. Such include new pharmaceutical products. As a result, it is among the vital industry partners for diverse sectors. Among them are healthcare, pharmacy, environmental protection, and agriculture. It also maintains stable and robust links towards segments, such as IT and government. This is due to various reasons. For example, IT solutions improve laboratory analyses in the industry. The sector's products must adhere to diverse regulations. Thus, networking with government-related sectors is crucial.

What is the industry’s annual value?

Because of its extensive network, it is a beneficial, and stable sector. It is also among the high-value industries. For instance, it has recently reached a market size of $1.81 trillion. The segment creates novel solutions through various means. Such include continual research and discussing the latest challenges. Among them are promoting sustainability, treating varied diseases, et cetera.

Where does the industry present its innovations?

Generally, presenting new solutions, analyses, trends, and challenges occurs during trade expositions. Such events attract over tens of thousands of participants and occur in diverse countries. Among them are the United Arab Emirates and the Swiss Confederation. They also include the Federative Republic of Germany.