Take Advantage of the New Bio-Economy Opportunities
The future effects of biotechnology on humanity will be profound and wide-ranging. The introduction of capital will hasten the flourishing consequence of this enormous market on this "gunshot starting" new biotechnology economic track. Significant advances in interdisciplinary fields like brain research, brain-machine integration, human-machine hybridization, and biological fusion will be made possible by the biotechnology sector. To speed up the emergence of a new technological revolution, the industry will quicken the merger of biotechnology, information technology, mechanical engineering, and electrical engineering.
The "14th Five-Year Plan for Biotechnology Economic Development," released by the National Development and Reform Commission in May of this year, makes the bold prediction that by 2035, China's biotechnology economy will be among the top in the world, forming a new development scenario characterised by cutting-edge technology, strong industrial strength, extensive integration and application, effective resource protection, controllable safety risks, and a comprehensive system of regulations. The research, development, production, circulation, consumption, and exchange of biological goods and services are the main foci of the biotechnology economy, which is built on contemporary biotechnology and biological resources. It is rapidly emerging as the next area of rapid economic growth and comprises important sectors like the health sector, biotechnology agriculture, biomanufacturing, bioenergy, and biological resource industries.
The Growth of the Biotechnology Industry
China has a greater need for the biotechnology industry than other countries have from the standpoint of economic and social development. First and foremost, strengthening the biotechnology industry and economy is essential to maintaining public safety. Biological security, life security, food security, and ecological security are all impacted by biotechnology. China urgently need a significant biotechnology advancement to address both historical and contemporary biological security constraints. Second, cultivating new growth sites is necessary for maintaining economic progress. China's digital economy bucked the trend in 2021 and grew to a size of 4.5 trillion yuan. The COVID-19 epidemic has hastened the emergence of the digital economy, which is now a key engine for economic expansion. The biotechnology economy is one of the new growth areas that must be encouraged in order to continue economic growth.
Since the discovery of the double helix structure of biological DNA in 1953, there has been an accumulation of scientific knowledge in modern biotechnology that spans approximately 70 years. The genomic, proteomic, and metabolic categories have been followed by the development of novel products and technologies like gene editing, synthetic biology, organ regeneration, early cancer detection, and longevity medications. The mysteries of the life sciences are gradually being unravelled as humankind's capacity to understand, alter, and synthesise life grows. Human genome sequencing now costs less than $1,000, compared to 3 billion dollars in 2000. In wealthy nations, the five-year cancer survival rate has risen to 65%. The average life expectancy is rising in several nations. Currently, biotechnology publications account for half of all papers in natural science across 37 global countries and regions.
Many countries and businesses are fighting for a place in the biotechnology industry. Over ten national leaders have positions as leaders of biotechnology and biotechnology economic organisations, and 60 nations and regions have adopted plans and policies surrounding the biotechnology economy. Other nations, including Japan, South Korea, Thailand, Malaysia, Brazil, and Singapore, have also established policies and initiatives to expand the biotechnology industry. The European Union has also published its 2020 and 2030 biotechnology economic plans. One of the most heavily financed fields in risk investment after the COVID-19 epidemic is biomedicine.
The following characteristics of our nation's bioeconomy's commercial potential will be seen: First, the field of bio-medicine, which includes, among other things, pharmaceutical insurance, medicines, medical equipment, healthcare services, health management, and medical supplies. The potential market for biomedicine is enormous, with a population of over 1.4 billion people. The second area is bio-agriculture, where upcoming developments in biotechnology will be used to grow new varieties of plants, animals, vegetables, and fruits, greatly improving seed security. Thirdly, the field of bio-manufacturing, which includes the industries of fermentation, bio-chemicals, biomaterials, and enzyme engineering, and refers to the use of fermentation engineering and enzyme engineering technologies using biomass as raw materials. Fourth, the development of bio-resources, whose potential should not be undervalued given that our nation is among the richest in the world in terms of bio-resources, boasting a plethora of plant, animal, and microbial resources as well as a richness of marine bio-resources. Fifth, the field of bio-energy, which includes the production of electricity from biomass, fuel ethanol, biodiesel, and gas. Last but not least, the bio-service industry has seen a rapid rise as a result of technological advancements, the expansion of industrial scale, and the growth of our nation's manufacturing and service industries. Examples of these industries include contract research organisations (CRO), contract manufacturing organisations (CMO), and contract sales organisations (CSO), all of which have a growing scale and specific technical advantages.
Conclusion
In conclusion, it is predicted that China's biological economy will reach 3.5 trillion yuan by 2030, becoming a significant pillar of the country's economy in addition to playing a critical role in guaranteeing the safety of life, biology, food, energy, and the environment.
A new area of economic growth is emerging: the biological economy. Biological technology is proven to be a tremendous driver for future growth, and life sciences are currently developing into a booming sector of cutting-edge scientific research.
The agricultural revolution made it possible for the world to support a greater number of people, and the electrification and automation of manual labour improved human physical prowess. The information era and rising levels of intelligence have made people's minds sharper. The upcoming biological technology revolution is anticipated to dramatically increase human health and longevity in addition to eradicating hunger.
The fourth medical revolution will be fueled by this revolution. According to research, biological technology will considerably increase the likelihood that diseases will be cured and decrease the death rate. Infectious and contagious diseases will be managed or even wiped out. The five-year survival rate for cancer will keep increasing while diabetes, hypertension, and cardiovascular illnesses will be properly managed thanks to gene editing, which also holds promise for treating genetic diseases. Aged and sick organs may regenerate thanks to stem cell research. The biological technology revolution will increase the number of years that people can live and work in good health. The criterion of human health in the future might be that mental work is still doable before the age of 80 and that all health indicators are normal at 60.
