A report on the development of the biotechnology sector in Ireland says the country is well positioned to benefit from anticipated rapid growth in the sector.
Speaking at the launch of The Supply and Demand for Skills in the Biotechnology Sector, Dr Danny O'Hare, chairman of the Expert Group on Future Skills Needs, said due to its high added value and its reliance on intellectual capital, biotechnology is widely expected to become a keystone of the knowledge economy.
"The European Commission has estimated that the market for biotechnology products in Europe alone could be worth €100 billion by 2005. Biotechnology . . . will provide substantial opportunities for those countries that are proactive in promoting the sector," said Dr. O'Hare.The report, carried out by Peter Bacon & Associates on behalf of the Expert Group, identifies a number of Ireland's strengths, such as the growing base of industrial activity, the pool of skills in pharmaceutical processing and engineering, and substantial investment to date in basic research in biotechnology.
Combined with Ireland's highly competitive corporate tax regime, the report found Ireland was well-positioned to take advantage of growth in the sector.
The report calls on the Government to reaffirm its commitment to the support of science in general and the achievement of greater participation in science and engineering subjects as well as the tailoring of educational courses.