Germany’s biotech sector experiences record growth
In 2020, the German biotechnology sector grew faster than it has in years. This is the finding of a survey of 687 private biotech companies published by BIO Deutschland. Overall revenue in the sector, including that of the 23 publicly listed companies, rose by 36 percent, while research and development (R&D) spending increased by 37 percent. The sector’s job numbers also grew strongly, at ten percent overall. Yet little change was observed in the number of companies operating in Germany. This figure stagnated, up by just 1 percent. Listed biotech companies played an important part in the strong overall result, accounting for around half of all revenue. According to the association, the growth in revenue and R&D spending is mainly, but not solely, due to the sharp rise in demand for biotech products, vaccines and therapies triggered by the pandemic.