Summary of market research, possibilities for development
Knowledge of the market and competitors is the key to a company being able to introduce new innovations and to making it easier to find the gap in the market where these innovations can be introduced. More research identifies areas where these innovations can be easily incorporated or where a particular market segment is lagging behind.
We evaluated biotechnology developments in five broad areas: sensors; electronics and computer technology; materials; logistics; medicinal agents. After that, we identified areas with significant opportunities in each category:
- sensors: test analysis; detection methods; chip architectures.
- electronics and informatics: protein-based devices; biocomputing; biomolecular hybrid devices.
- materials: living tissue technique; biologically inspired materials and processes; hybrid materials.
- logistics: miniaturization of biological assets; functional foods; biological energy sources; renewable resources.
- therapies: genomics and proteomics; medicines and vaccines; drug delivery systems.
The biotechnology industry outperforms the space industry in terms of research spending and the complexity of research processes. In addition to the research and development (R&D) budgets of large pharmaceutical companies, these R&D activities and expenditures are dwarfed.
In contrast to traditional developments, the developers of the biotechnology industry are “discovery-oriented”, ie they are moving in many directions as defined by the market, which directions have been medical and healthcare trends so far.
In order for biotechnology developments to keep pace with the emerging pace, new, effective partnerships need to be established with emerging industry players, involved in research, supporting research and commercial sector developments, and developing internal capabilities (organization and staff).
Implementing a new application of biotechnology in a non-medical field requires the application of the biological sciences in fields other than traditional medical technology.