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.
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…
