Biotechnology economy is one of the important political, military, medical and social indexes in economic analysis for evaluating one country’s power to face the problems. The Biotechnology economy has two sides that control this economic niche one side is governmental research, projects and companies that control the society’s basic needs for Biotechnology products and one side is private holdings and startups that compete for markets. Biotechnology economy definition shapes multiple vision from industrial biotechnology, pharmaceutical biotechnology, medical biotechnology and microbial biotechnology. These 3 main definitions shape an important part of the Biotechnology market.
Biotechnology as an integrated field of science makes a big change in our world by developing high tech synthetic molecules such as vaccines, processed food, pharmaceutical recombinant proteins, growth hormone, developing new antibodies, immunoregulatory agents and other things that we know commercially as blood factors.
Biotechnology economies make billions of dollars and lots of job opportunities for every country and become an important international and national index for economic reports.
Biotechnology has become the main heart of big Biopharmaceuticals and pharmaceuticals companies in the world that trades billions of dollars every year and control medicine and food stability of big countries.
Biotechnology economies have a unique multi concept definition that based on the product category and the vision company have, change in the definition, but as a general biotechnology economy is based on any bioprocess happening in the industries and Biotechnology R&D laboratories.
Another index for biotechnology economy analysis is social demand for biotechnology products and this happens by social education, advertisement and marketing strategies for introducing biotechnology products to the society.
Medical Biotechnology economy
Medical biotechnology is one of important money making sector in biotechnology science that develops wide range of biopharmaceutical products that use as a drug, cosmetics or cure agents in this industry and by big pandemic such as COVID19 pandemic we found importance of medical biotechnology for developing new high tech vaccines, drugs and cure solution to make social immunity and cure cancer and STDs.
Today an important biotechnology news are about medical biotechnology and new discoveries for curing diseases. Economy articles analyzing each medical biotechnology sector, products and services for negative and positive points and studying the effects on the biotech stocks indexes.
Importance of Biotechnology
Biotechnology is very important for the social , medical, health and food long term security and stability. Today Bio processes are used everywhere from industry to pharmacy laboratories and these processes help humans experience a better and qualified life. Biotechnology importance has become a policy for modern countries that facilitate the production of pharmaceutical drugs, recombinant proteins, GMOs and vaccines. synthetic protein used as a hormone therapy for diabetes known as Insulin is a biotechnology example that helped the people live longer and experience a qualified life.
Biotechnology is an integrated technology based field of science that uses genetic engineering, life science, nanobiotechnology and other branches of biology to create a unique function and structure in the cells that help us improve quality of life and nature.
Biotechnology plays an important role in our daily life from producing processed texture to make high quality clothes to the food we use biotechnology techniques and it is an index that importance of biotechnology should become a priority in science and policy.
contribution of biotechnology in agriculture
Biotechnology is one of the important revolutions in modern agriculture that creates a massive change in human life by producing GMO plants and anti pest and anti pathogen plants. Agriculture biotechnology industries have a rapidly increasing economic index in the last decades that doubled their economic market size in between 1990 to 2000.
Modern genetic engineering techniques and novel molecular discoveries made a big change in agriculture for achieving more products, more plants, more bio safety and more results and made a big revolution in fast growing biotechnology industry statistics.