What is Biotechnology?

Biotechnology is any technique that uses living organisms to make or modify products, to improve plants or animals or to develop microorganisms for specific uses.

At present biotechnology is predominantly a series of techniques and technologies used by existing industry sectors, such as the pharmaceutical industry, food processing industry, agriculture, environment management and minerals processing industries.

Biotechnology is both a new industry in its own right and a rapidly expanding suite of scientific techniques that enable the manipulation of commercial end of biological processes used in many existing industries.

Among the major biotechnology products are -

• New pharmaceuticals and medical diagnostics.
• New agricultural and food products, including new crop varieties with improved traits such as genetically modified cotton, Soya, corn, potatoes, tomatoes, oilseeds.
• Products and processes for environmental management, including the treatment of wastes.

It is estimated that by the year 2000, 22 million jobs in Europe will be associated with biotechnology. The United States has more that 1000 biotechnology companies, (90% in human health products).

By 2006 United States biotechnology sales have been forecast to reach US$43 billion. Already over 10% of pharmaceutical sales are based on biotechnology products and US pharmaceutical companies invested approximately US$18.9 billion on R&D in 1997.

Source - Biotechnology in NSW - Opportunities & Challenges A Report to the NSW Government from the NSW Innovation Council