The $78.3 Billion Canadian Bio-based Economy
Biotechnology is driving an economic shift to a broader “bio-based economy” which integrates biologic products and technologies, derived from renewable resources into new sustainable production and manufacturing processes.
Canada’s bio-based economy is valued at 78.3 billion dollars. At 6.4 percent of the GDP, this footprint is larger than the automotive and aerospace sectors respectively.
The concept of the bio-based economy goes beyond the traditional definition of biotechnology. The bio-based economy focuses on biological tools and products from renewable resources to create wealth and sustainability in the production of medical treatments, diagnostics, more-nutritional foods, energy, chemicals, and materials, while improving the quality of the environment.
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