Consequences, Opportunities and Challenges of Modern Biotechnology for Europe
From the EU's Bio4EU Study carried out by the Joint Research Centre (April 2007)
- Modern biotechnology and its applications generate almost 2% of EU gross value added, indicating that its importance is comparable to Europe’s largest industry sectors.
- The European dedicated biotechnology industry directly employs 96.500 people, mostly in SMEs; however given biotechnology’s “enabling effect”, employment in industries using biotechnology products is many times higher.
- Revenues for biotech vaccines jumped from EUR 65 million in 1996 to EUR 259 million.
- In the agro-industry, up to 20% of the input sector’s turnover is now related to biotech.
- In industrial biotech the EU produces about 75% of the world’s enzymes.