Canadian biotech set to grow 9.4% year to 2030

December 21, 2011 at 9:58 am Leave a comment

The value of Canada’s biotechnology sector will grow by an annual average of 9.4% over the next 18 years and will reach C$144 billion by 2030, equal 4% of Canadian Gross Domestic Product (GDP).

Over the next two decades, Canada will enjoy a maturing biotechnology industry, and the significance of the sector will extend beyond the value of economic goods and serves to cover job creation, enhanced human health, reduced environmental damage and greater production capacity, says the study, which was carried out for the nonprofit corporation Genomics Canada by the Centre for the Study of Living Standards (CSLS).


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