Data presented by EuropaBio highlight the status of the biotech and biomanufacturing sector in relevant competitor countries (i.e. the US, China, India and Japan). The US has a higher number of biotech companies compared to Europe (8,000 vs 4,500), and a much greater access to funding (3,557 vs 1,558 companies receiving funding between 2015 and 2021). Targets to five years include the expansion of biomanufacturing capabilities to produce at least the 25% of APIs for small molecule drugs needed in the US. The improved economic prosperity and health consciousness of the Indian population is among the main factors driving the growth of the biotech and biomanufacturing sector in the country. India’s biotechnology industry estimated value was $63 billion in 2019, comprising more than 3500 biotech start-ups (approx. 5% of the global market).
Japan’s commitment with the bioeconomy is supported by the growing concern over environmental challenges, security of food supply, increases in lifestyle-related diseases and rising demand for pharmaceuticals. As for China, the increasing quality of scientific publications in the biotech field and a similar number of health-biotech patents as Europe in the period 2014-2020 are among signs of the strong commitment of the country to become a global powerhouse of high-tech, strategic industries.
Source: EuropaBio