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Farmers have manipulated agriculture and livestock for thousands of
years. It’s no surprise, then, that discovery and development are the
primary goal of each of the four biotechnology markets, including:
•
Bio-health: Bio-health companies are hyper-focused on the R&D
portion of the medical sector. These companies take significant risks to
design new drugs quicker and more effectively. Bio-health thrives
‘behind the scenes’, starting with foundational research to product
launch instead of marketing or sales
• Agri-biotech:
Ground-breaking agricultural advances have always played a vital role in
agri-biotech. For example, scientists successfully cloned the first
mammal in 1996 – a sheep named Dolly. Aside from animal cloning however,
agri-biotech pursues crop improvement by crop cloning, modifying genes,
and more. Many farmers thrive on transgenic and bioengineered crops,
too
• Bio-energy: The biotech industry solves
environmental problems by studying natural environments. The bio-energy
market studies microorganisms and works to create a more sustainable and
preserved world with less pollution
• Bioindustrial:
More than for medicine, food, or energy, biotech focuses on non-food
uses of crops and other products. The bioindustrial market can transform
unpalatable raw materials into edible food. Additionally, the biotech
industry’s advances have extended the shelf-life of many foods based on
innovative packaging and product storage
Navigating the Legal Climate of Biotech
Plenty
of legal issues surrounding the biotech industry are cause for concern
with those involved in the space. Furthermore, each legal layer, or
apprehension, indirectly contributes to the complexity of this market.
There are vulnerabilities abound, but players tend to weigh their
options differently than in any other industry.
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