The greening of biotechnology: the growth of the US biotechnology industry

The growth and advancement of biotechnology worldwide has been the focus of many studies, and at the heart of this advancement has been a new industry of small biotechnology firms in the United States. Since the early 1970s more than 300 small companies have been founded in the United States to work with the new technologies of genetic engineering, monoclonal antibody production, and in related areas. In addition, many major corporations in the United States have sought entry into biotechnology. Hundreds of new companies have been founded to interact with the biotechnology firms and large corporations, supplying reagents, equipment, fermentation expertise and serving a variety of other ancillary functions. Nowhere else in the world has a biotechnology industry been initiated to such a large degree. Today, the average US biotechnology firm is six to seven years old. The current state of the US biotechnology industry, historical perspectives, major trends and some future outlooks will be described below.