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Companies in this industry manufacture drugs, therapies, vaccines, genetically modified food and fuel, and other products based on genetically manipulated compounds. Major companies include US-based Amgen, Biogen Idec, Genentech (owned by Switzerland-based Roche), and Monsanto; Cangene (Canada) and ADIMMUNE (Taiwan); and the biotech research arms of major international pharmaceutical companies such as Sanofi (France).
The global biotechnology industry includes about 7,000 companies with total revenue of about $140 billion. Top regions for biotechnology include the US and Canada, Australia, and Europe, according to Ernst & Young’s Beyond Borders Global Biotechnology Report.
The US biotechnology product manufacturing industry includes about 1,800 companies with combined annual revenue of more than $80 billion. The industry should experience a high-growth rate over the next two years, along with the entire pharmaceuticals, medicines, and biological products manufacturing sector. Demand drivers include the need for new medical solutions to solve complex illnesses such as cancer, and the global need to increase food production. The willingness of insurance companies to pay for new drugs and treatments is also driving demand.
Because many drugs are now developed using biotechnology, the biotechnology and pharmaceutical industries overlap considerably.
Demand for biotechnology in the fields of medicine, agriculture, food, and science is driven by insurers' willingness to pay for new medical treatments, the global need to produce more food for a rapidly expanding population, and scientists' desire to find solutions for ...
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