Malaysia, in May 2007 at the BIO International Convention (BIO 2007), will look to pull biotechnology exports, particularly from US, to the nation.
The Biotechnology Industry Organisation (BIO) will organize the BIO 2007 scheduled to be held in Boston, Massachusetts, from May 6 to May 9, 2007.
Presently, BIO is a representative body for approx 1,100 biotech companies, state biotech centers, academic institutions, and other related organizations in all US states and 31 other countries.
Datuk Seri Dr Jamaludin Jarjis, Science, Technology and Innovation Minister, Malaysia, told on April 20, 2007 that his country would see this event as a global stage to attract the attention of the potential investors in the nation as a favorable export destination, as reported by Bernama.com
He further said at a press conference on the participation of Malaysia at BIO 2007, “There is flourishing interest from the West on outsourcing of the biotechnology sector to Asia. Malaysia is strategically located in Asia and we should make use of the interest to woo those involved to our country”.
BIO members have their involvement in diverse fields, like agriculture, environmental, industrial, and healthcare biotech products.
Deputy Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak will lead the Malaysian delegation of 300 representatives at BIO 2007. The number of delegates has increased enormously this year as compared to 150 in previous year and 100 in 2005.
According to the RNCOS report “US Biotech Market Analysis”, US biotechnology market has had a share of over 50% in the global biotech market in 2005. It grew at a CAGR of 15.16% during the period 2001 to 2005 and is projected to exceed US$ 131 Billion by 2010 rising at a CAGR of about 15.5%. This volcanic growth is expected to open new vistas for the US biotech market in diverse fields of biotechnology.
The market research report provides a comprehensive overview on the US biotech industry. The report is a collection of facts and forecasts on the distinct segments, like bio medical, agriculture, clinical trials, etc, that make up the framework of US biotech industry. It throws light on the various parameters that define the biotech industry in US, like current biotech business models, production and economic impacts, clinical trials, M&As, R&D, and strategic alliances. Key drivers, opportunities, challenges, and future outlook have been analyzed prudently for investors.
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