Significant Growth in Asia-Pacific's Biotech Industry

Ernst & Young recently published its 2004 Global Biotechnology Reports in which it cited Asia-Pacific as showing its strengths as “a centre of biotechnology innovation and an emerging partner within the global biotechnology industry”.

According to Carol Wong, executive director, Ernst & Young, the survey shows the United States still dominating the market, with Europe experiencing a resurgence of interest in recent years.

"Asia-Pacific’s significant growth is due to government policy and initiatives, and as such, many US companies are looking at the potential for cross-border alliances in the region.

Malaysia can leverage its IT expertise as it is a matter of extending skills to work with scientists. Furthermore, the country has plenty of natural resources to tap into for its biotechnology industry, and hence, it can create a niche for itself in the region’s burgeoning biotechnology industry.”