Biotech can become a driver of growth in Russian regions

| By | Biotechnologies, Pharmaceutical Industry

Heinz Schmidt, Director of Life Science Division of Merck, presented a report at the session on Innovative Potential of Regions as a Driver of Economic Development held during the Russian Investment Forum. Mr. Schmidt shared his expert views on biotech market development in Russia and the role played by its Life Science segment.

Despite the rapid development of biotech and biopharmaceuticals market in the world as one of the fastest growing segments, the current share of Russia in this market is very low and, in 2015, stood at about 0.7% or 2: 1.4 billion dollars compared to 145 billion dollars globally.

„Nevertheless, given the high scientific potential of Russia and characteristics of scientific and technological development of its individual regions, biotech has tremendous development opportunities in Russia both at the national and regional levels. But this requires the necessary material and, above all, technological support for this area, which can be provided by the rapidly developing segment of Life Science technology,” said Mr. Schmidt.

According to the Comprehensive Program for the Development of Biotechnology in the Russian Federation, the output of biotech products in Russia should reach about 1% of GDP by 2020 and not less than 3% by 2030. For this purpose, a whole new level in the development of Russian biotech market cannot be achieved without effective communication and cooperation in the chain of Science — Business — Education.

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