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Emerging Biotech Sector in Malaysia
Malaysia has effectively witnessed an upsurge in the profitability and development of the domestic biotechnology industry. Malaysian biotech market has been growing at the double digit rate for the past few years on the back of factors, such as rich biodiversity, active participation by the government and private players, high investments, and technological up-gradation. According to our new research report “Emerging Biotech Sector in Malaysia”, the biotech market in Malaysia reached to the mark of RM 663 Million (US$ 212 Million) in 2010 and is likely to grow at the CAGR of around 16% to reach RM 885 Million (US$ 283 Million) by 2012.
We have covered the key segments of biotechnology industry in Malaysia namely healthcare biotech, agriculture biotech, and industrial biotech. These segments are the focus areas of both the government and private market players. Under National Biotechnology Program, the authorities have extensively planned out various strategies and goals regarding each of these segments and positive developments are likely to boost revenue patterns in future.
Our report has found that agricultural biotechnology holds immense growth potential mainly due to the fact that new innovations and technological up-gradations are providing numerous advantages to this area. Marine biotechnology and crop-related biotechnology are being considered as the future growth areas. In the healthcare biotechnology segments, there are various sub-segments that are likely to witness high investments, such as contract manufacturing, CRO, drug discovery among others. The country offers a supportive environment for the global healthcare and pharmaceutical companies to build their operation. Besides, ‘BioNexus’ status provides many benefits to biotech companies.
Overall, the report analyzes all the key aspects of the Malaysian biotech industry and studies current trends and their impacts on different segments of the industry. The report also provides statistical data and an effective analysis of the macroeconomic factors, market restraints, and challenges. It also describes the role of government and regulatory mechanisms concerning industry and covers key industry players that will help clients to plan market strategies and assess areas of opportunity in the Malaysian biotech market.
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