Africa’s biotech industry can deliver social and economic returns

by Digital Brainiacs
0 comment 2 minutes read

Although biotech is a growth phenomenon that is set to take flight around the world, South Africa is not taking advantage of its vast potential to be a key global player in the space and grow the economy, writes Sona Mahendra, Associate Programme Manager at Founders Factory Africa.

OP-ED: Africa's biotech industry can deliver social and economic returns
Photo by National Cancer Institute / Unsplash

Biotech across the globe is an area that is rapidly gaining traction, with Bio Space predicting in April this year that the world’s biotech market should be worth about $3.44 trillion by 2030 from being valued at $852.88 billion just two years ago. That implies growth at a compound annual rate of 17.83% between 2021 and 2030.

The odds are good that some of the most valuable companies in the…

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