The biotech industry encompasses companies whose products benefit people by treating diseases with life-saving treatments and drugs increasing yields on agricultural land and creating eco-friendly chemicals and fuels. It also includes bioinformatics, which is the study of biological processes and information and can be applied to various industries.
Biotech’s roots date back to the 1970s in the beginning when the technology of recombinant DNA (genetic engineering) was invented and patent-protected. This technique enables scientists to make splices of genes into production cells which then begin producing important protein molecules.
Biotechnology is a major component of the programs for target discovery at most pharmaceutical companies today. Small companies also exist in the industry that use proprietary techniques to develop new therapeutic drugs.
Other biotechnology applications are being pursued by companies focusing on agro biology, cosmetics and the environment, food technology industrial biotechnology, nutraceuticals and food technology along with vet medicine. Fully integrated Pharma companies are massive commercial companies that study and develop generic or brand medicines.
Biotech is undergoing a transformation due to new technologies. Companies are now able to validate their products for conditions that have understood mechanisms, such as sickle cell anemia. They can also reach more patients. Some companies are trying to develop novel therapies for conditions that haven’t been treated, like Duchenne muscle dystrophy.
https://biotechworldwide.net/typology-of-biotechnology-by-color-development-prospects-of-each-type/