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critical economic asset for Europe: WifOR Institute study updated for EuropaBio</h2> <span property="dc:title" content="Biotech as a critical economic asset for Europe: WifOR Institute study updated for EuropaBio" class="rdf-meta element-hidden"></span> <div class="company_name"><a href="/company/europabio-80817">EuropaBio</a></div> </div> </div> <div class="node-print-container"> <div class="node-print-links"> <span class="print_html"><a href="http://pr.euractiv.com/print/269314" title="Display a printer-friendly version of this page." class="print-page" rel="nofollow">Printer-friendly version</a></span> </div> <div class="node-addthis-link"> </div> </div> <div class="content clearfix"> <span class="print-link"></span><div id="node_ea_pr_full_group_ea_pr_info"class = "ea_node_info_pane clearfix group-ea-pr-info field-group-div"><div id="node_ea_pr_full_group_pr_info_left"class = "ea_subpane_left group-pr-info-left field-group-div"><div id="node_ea_pr_full_group_ea_pr_date"class = "ea_dates_field ea_info_pane_field group-ea-pr-date field-group-div"><h3><span>Date</span></h3><div class="field field-name-field-ea-shared-date field-type-datetime field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2025-03-19T00:00:00+01:00">Wed, 03/19/2025</span></div></div></div></div></div><div id="node_ea_pr_full_group_pr_info_right"class = "ea_subpane_right group-pr-info-right field-group-div"><div id="node_ea_pr_full_group_ea_pr_sections"class = "ea_section_field ea_info_pane_field group-ea-pr-sections field-group-div"><h3><span>Sections</span></h3><div class="field field-name-field-ea-shared-section-tref field-type-taxonomy-term-reference field-label-hidden"><div class="field-items"><div class="field-item even">Euro & Finance</div></div></div></div></div></div><div id="node_ea_pr_full_group_ea_pr_description"class = "ea_pr_description_field ea_node_description_field group-ea-pr-description field-group-div"><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);"><span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">Brussels, 19 March 2025</span></p> <p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);">EuropaBio has published an updated WifOR Institute report ‘’Measuring the Economic Footprint of the Biotechnology Industry in the European Union” demonstrating the continued economic growth and strength of biotechnology. The WifOR Institute report now spans 2008-2022, with the latest Eurostat data measuring outputs from key biotechnology products.</p> <p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);"><span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">Gross value added</span> (GVA) from biotechnology hit €38.1 billion in 2022, almost doubling from 2008. Whilst healthcare biotechnology remains the dominant contributor, reflecting the maturity of the sector, industrial biotechnology is the fastest growing sub-sector in terms of GVA, with a growth rate of 5.3% - over twice that of the EU total economy.</p> <p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);">Overall, biotechnology is one of the most economically <span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">productive</span> industries, generating €160,000 GVA per person employed in 2022, 2.85 times higher than the total EU economy and higher than sectors including finance, ICT and automotive.</p> <p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);">Biotechnology product exports also deliver significant <span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">global trade strength</span> for the EU, with a surplus of €51.7 billion in 2022, a sevenfold increase since 2008. The economic value of healthcare biotechnology exports rose significantly in 2021 and 2022, indicative of the EU’s vital manufacturing role during the COVID-19 pandemic, whilst exports across all biotechnology sectors have grown every year since 2008.</p> <p style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px 0px 15px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-variant-alternates: inherit; font-variant-position: inherit; font-variant-emoji: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; font-family: "Work Sans", -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Oxygen-Sans, Ubuntu, Cantarell, "Helvetica Neue", sans-serif; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; color: rgb(43, 44, 67); text-align: justify; background-color: rgb(252, 252, 252);"><span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">Dr. Claire Skentelbery</span>, <span style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: 700; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">DG of EuropaBio</span> commented “<em style="box-sizing: inherit; -webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; letter-spacing: 0px !important;">Once again, biotechnology demonstrates its significance to the EU’s economic growth and future industrial model. The current mandate is right to focus on how we maximise the impact of biotechnology, including through vehicles such as the EU Biotech Act, and we need to incentivise, enable and amplify it through ALL relevant initiatives and legislations.</em>’’</p> </div></div></div></div> </div> <div class="clearfix"> <div class="links node-links clearfix"><ul class="links inline"><li class="print_html first last"><a href="/print/269314" title="Display a printer-friendly version of this page." class="print-page" rel="nofollow">Printer-friendly version</a></li></ul></div> </div> </div> </div> </div> </div> </div> </div><div class="grid-3 region region-sidebar-second" id="region-sidebar-second"> <div class="region-inner region-sidebar-second-inner"> <div class="block block-block ea-advertise-block ea-user-block block-24 block-block-24 odd block-without-title" id="block-block-24"> <div class="block-inner clearfix"> <div class="content clearfix"> <a href="/user">Login</a> </div> </div> </div> <div class="block block-views block-ea-event-views-block-4 block-views-ea-event-views-block-4 even" id="block-views-ea-event-views-block-4"> <div class="block-inner clearfix"> <h2 class="block-title">Agenda</h2> <div class="content clearfix"> <div class="view view-ea-event-views view-id-ea_event_views view-display-id-block_4 agenda-feed-block view-dom-id-4cfcbfa6ffadbdf34b29afc36b045dfa"> <div class="view-content"> <div class="views-row views-row-1 views-row-odd views-row-first hnews hentry item vevent"> <div class="views-field views-field-field-ea-event-dates entry-date dtstamp"> <div class="field-content"><span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2025-06-18T02:00:00+02:00">Wed, 06/18/2025 - 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