Market Analysis - Biotechnology 2018
Over the past two decades, the biotechnology industry in Thailand has been a strong pillar in Thailand’s national development plan, transforming Thailand into a knowledge-based and high value-added economy. Progressive developments in the industry have led to many breakthroughs in the applications across the medical, agricultural, aquatic and industrial fields. Earning the reputation as the medical hub of Asia, a global leader in agriculture and one of the top five food exporters in the world, the Kingdom demonstrates strong competency in taking biotechnology further ahead, as well as raising the competitiveness and self-reliance of the country in the coming years.
Since its inception in 2005, the BIOTEC-Novartis International Pharmaceutical Drug Discovery Partnership has made much contribution to the exploration of potential uses of micro-organisms and natural compounds as active ingredients for innovative medicine. Owing to the success achieved over the past six years of collaboration, the two organizations extended the partnership for another 3 years to 2014 in January 2
The creation of the National Center for Genetic Engineering and Biotechnology (BIOTEC) in 1983 marked an important milestone for Thailand’s biotechnology industry by laying a solid foundation for strong future developments. Thereafter, various public and private institutions, including universities, the National Science and Technology Agency (NSTDA), the Thailand Center of Excellence for Life Sciences (TCELS) and the Board of Investment (BOI), have continuously striven to strengthen the industry, enabling it to flourish in
Thailand. Under the Biotechnology Development Policy Framework 2012- 2021, the Thai government is a driving force in stimulating developments and fostering growth within the industry, in an effort to transform Thailand into the center of biotechnology in Asia. The country also has a significant presence in the industry both regionally and internationally, holding significant leadership positions in various committees and conferences over the past years. Across the Kingdom, there are over 165 emerging biotechnology firms. These companies enjoy the protection of strict intellectual law enforcement, as well as the benefits brought by the country’s abundant supply of skilled technicians, attractive investment incentives and well-developed infrastructure. These attractive factors of Thailand allow investors to avoid complications arising from intellectual property issues and labor shortages, which are prevalent in other low-cost competing countries such as China and India. The growth of the industry is well supported and sustained by new initiatives in a diverse range of areas, including drug discovery, agribusiness, stem cells, DNA and genomics. Both the public and private sectors play a critical role in unleashing the potential and investment value embodied in Thailand’s biotechnology framework. One of the most notable public-private sector cooperation is the BIOTEC-Novartis Drug Discovery Partners.
Biotechnology Applications in Thailand
Applications of biotechnology in Thailand include Agriculture (Green Biotechnology), Medicine (Red Biotechnology), Industry (White Biotechnology) and Marine/Aquatics (Blue Biotechnology).