Malaysian biotech industry set to grow, says research firm

September 7, 2009 by: editor


Global research company, Frost and Sullivan, says that Malaysia’s biotechnology industry is expected to grow at an average of 15 percent a year.

“Healthcare revenue will experience the highest growth with CAGR of 20 percent, followed by agriculture 15 percent and industrial 10 percent. By the year 2013 the industry is expected to generate RM45 Billion in revenue,” says Frost & Sullivan’s Global Vice President for Pharmaceuticals, Rhenu Bhuller.

Frost and Sullivan adds that the rich biodiversity, multi-ethnic population, lower cost, regulatory support and financial incentives, such as tax incentives and funding schemes, will be advantages in Malaysia’s attempts to promote the country as a biotechnology hub.

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