Life sciences and biotech - key sector for Europe's competitiveness, EC concludes

The European Commission has reviewed its strategy on life sciences and biotechnology, saying that this sector has the potential to make a significant contribution to the sustainability and competitiveness of European industry and the quality of life of Europe's inhabitants. This background note gives some key facts and figures about the sector, outlines the revisions proposed to the strategy and highlights some of the on-going and planned support to research in this area.

Key facts and figures on life sciences and biotechnology

The European dedicated biotechnology industry directly employs 96,500 people, mostly in SMEs. Employment in industries that use biotechnology products is many times higher. The industry is highly research-intensive, with 44% of its employees involved in R&D activities. In 2004, the 2,163 dedicated biotechnology companies in the region spent 7.6 billion euros ($10.16 billion) on R&D.