BIO 2010: German Molecular Diagnostics Segment Posting Double-Digit Growth
Monday, May 3, 2010 at 11:10AM BERLIN and CHICAGO, May 3 /CNW/ - Molecular diagnostics has quickly become one of the most important biotechnology segments in Germany. With an estimated 10 percent share of the EUR 2 billion German diagnostics market, the segment enjoys a compound annual growth rate of around 12 percent. This growth is driven by industry trends toward personalized medicine that are correspondingly increasing the market for molecular diagnostics. Germany Trade & Invest will have representatives at this year's BIO International Convention in Chicago from May 3 - 6, 2010 to share the latest business opportunities in Germany's biotechnology industry.
There are more companies operating in the biotech and biomedical sectors in Germany than in any other country in Europe. Revenue in this industry has grown over 40 percent between 2005 and 2009 and promises to expand in the coming years. Dedicated biotechnology companies annually invest nearly EUR 1 billion in research and development, securing the industry's innovation potential for the coming years.
The integration of biotechnology clusters further increases the country's attractiveness as a business location. Research institutes and companies large and small can utilize the cluster structure to share ideas, innovate with partners and quickly bring new products to market.
Giving a further boost to Germany's reputation as a high-tech business location, top executives in American companies recently selected Germany as the number one location in Europe. In a survey conducted by the American Chamber of Commerce in Germany (AmCham Germany), they cited Germany's handling of the economic crisis and stable domestic demand as crucial factors. 80 percent of those surveyed even named Germany as their future focal point for investments in Europe.
Germany Trade & Invest will be showcasing the latest developments in Germany's biotechnology industry at Booth 4722 at this year's BIO International Convention. In addition, the organization will be hosting a session on opportunities in Germany under the moniker "Beyond Classical Diagnostics: Breakthroughs in Molecular Diagnostics and Biomarkers from Germany." Speakers will include Michael Lutz, CEO of Life Codexx, a DNA sequencing company that develops clinically validated next generation molecular diagnostics, as well as Hajo Schiewe, Ph.D., Manager Business Development for Metanomics Health, a metabolite profiling company in the area of plant biotechnology. Both will speak about opportunities in their segments in Germany.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities to the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
For further information: Germany Trade & Invest, Eva Henkel, Email: eva.henkel@gtai.com, T: +49(0)30-200099-173, F: +49(0)30-200099-111
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