Many entrepreneurs we meet within the Biotech industry share strong will to succeed in China. Hence, despite risks associated with entering this market, the country not only represents a strong destination for exports, but also promises a huge domestic market.
A new report by RNCOS (a market research and information analysis company) indicates that China is the market you want to enter if you have an innovative Biotechnology. The RNCOS report projects around 16% Compound Annual Growth Rate (CAGR) to the Asia-Pacific biotech market during 2010 – 2012. China alone is forecasted to grow at a CAGR of around 23% during these years. Cheap labor costs, strong biodiversity, immense government support, and a huge pool of human resources are factors believed to contribute to China’s potential to dominate the world biotech market.
Later this moth, Israel will host the 10th National Life Science and Technology Week. Naturally, we in MultiReach believe there’s a great room for Israeli-Chinese collaborations in the filed of Biotechnology, hence we work to facilitates and promote collaborations of this kind.