3% share of global biotech market lost due to sanctions

January 4, 2023 - 17:55

TEHRAN – The U.S. sanctions have impeded the country’s ability to acquire a targeted 3 percent share of the global biotechnology market, the secretary general of the Biotechnology Development Headquarters has said.

Iran is an advanced and developed country in the field of biotechnology and home to outstanding technologists, ISNA quoted Mostafa Ghanei as saying on Wednesday.

“We could easily increase Iran’s share of the global biological market to three percent,” he said.

Considering that Iran has 1 percent of the world’s population, we aimed to gain 3 percent of the world’s biotechnology market, but the sanctions did not allow us to become a good actor in the field of biotechnology at the international level.

The Secretary of Biotechnology Development Headquarters considered financial exchanges to be the main problem in this field.

In recent years, we have tried to realize this plan, and technologists and knowledge-based companies have also taken steps in this direction, and good successes have been achieved, but we are far from reaching the desired point, he noted.

Biotechnology development

Currently, 20 to 30 types of biotech medicine are produced in the country in addition to kits, vaccines, and blood products. Also, 80 percent of biotechnology pharmaceutical items are domestically produced.

Biotechnology today is widespread in all fields and is no longer limited to biomedical drugs so it has replaced injured limbs.

The Vice Presidency for Science and Technology is set to achieve a 3 percent share of the global biotechnology market.

In May 2021, the Biotechnology Development Council launched 129 production projects with the aim of saving up to $1.44 billion in foreign currency.

Iran is ranked 12th in the world and first in West Asia in terms of biotechnology, as 9.5 percent of the income of knowledge-based companies and more than 60 percent of their exports are related to biotechnology.

Foreign exchange savings of $1 billion per year by producing 22 biopharmaceuticals, gaining the first rank in biotechnology products and vaccines in West Asia, and the presence among the top five biotechnology producers in Asia are among the country’s achievements, Mostafa Ghanei, secretary of the biotechnology development office of the Vice Presidency for Science and Technology, said in October 2020.

So far, 27 biotechnology medicines, 12 vaccine projects, 90 pharmaceutical raw materials, and 55 projects in agriculture and food security have been implemented in order to gain a 3 percent market share and biotechnology assistance to the development of the economy, he explained.


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