| The biotechnology sector is already well entrenched in Canada and in the Province of Quebec. Its significance in the nation's economy is no longer an issue. Quebec's potential for growth elicits even more hope, as well as intense rivalries. However, although many numbers abound, it is often difficult to draw an accurate statistical portrait of the true situation.
A Few More Specifics
A survey undertaken by Statistics Canada in 1999 on the operations and development of the biotechnology sector measured several industry parameters. The data collected constitutes a reliable indicator of the recent and anticipated evolution of the biotech industry.
Beyond the increase in the number of companies, a considerable amount of data testify to the sector's sustained growth that might even be accelerating. Revenue from biotechnology activities in Canada jumped by 71.6 per cent from 1997 to 1999. In the Province of Quebec, the increase was even more spectacular, soaring more than 147.3 per cent over the same two-year period. This dramatic growth in revenue is a clear sign that the industry has attained a certain maturity. Worldwide, Canadian sales account for less than 5 per cent. However, that figure could double between now and 2005. |
