International Business Opportunities in the Biotechnology Industry

The first 200 words of this essay...

Gakhal 1

Sunny Gakhal

Ms. A. Sobec

SBI4U0-A

10 January 2008

International Business Opportunities in the Biotechnology Industry

The world has witnessed extraordinary advancement in biological science over the last few decades. One particular area, within the subject of biology, which has witnessed such advancement and growth, is biotechnology. Biotechnology is the industrial application of living organisms and/or biological techniques, developed through basic research. In terms of industrial application, the three major industries with significant application of biotechnology include: health care (medical), agriculture, and the environment. Biotechnology consists of a combination of such disciplines as genetics, molecular biology, biochemistry, embryology, and cell biology, which are simply academic branches derived from the core subject of biology. The benefits of biotechnology, today and in the future, are nearly limitless. Biotechnology has created more than 200 new therapies and vaccines, including products to treat cancer, diabetes, HIV/AIDS and autoimmune disorders. Unfortunately, even with such significant accomplishments made possible via the use of biotechnology, the industry is relatively small in comparison to other industries of similarity (particularly the pharmaceutical industry), indicating that the power of biotechnology is yet not being exploited to its fullest potential. However, the