British Columbia’s life sciences sector is a leader in the development of new therapies and products, particularly in the areas of HIV-AIDS, cancer and genomics.
British Columbia’s life sciences sector enjoys international partnerships that open doors for exports. Organizations from the U.S. military to food processors have seen opportunities for the discoveries, pharmaceuticals, and devices made here. Opportunities exist for new partnerships with British Columbia’s key trading partners.
British Columbia life sciences companies have struck deals with some of Europe’s biggest life science firms. The acquisition of Victoria-based Aspreva Pharmaceuticals Inc. in 2007 for $915 million is an example of the interest European manufacturers have taken in local expertise.
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India is one of the world’s key life sciences markets, with a worth of approximately $65 billion. Anchored by the manufacture of generic drugs, the industry has seen significant investment in research and development since it began recognizing product patents in 2005. The biotech sector, rooted in research and development, was worth $4 billion in 2011. The growing popularity of alternative healing systems such as Ayurveda, Homeopathy, Siddha and Unani create a diverse and dynamic market for exporters. Opportunities also exist for research collaborations in the development of new pharmaceuticals and devices.
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Backed by strong government support, South Korea is one of Asia’s largest biotech markets and a dynamic opportunity for British Columbia life science companies.
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The six largest countries in Southeast Asia rely heavily on imported medical devices. In 2013, the ASEAN medical device market was valued at an estimated US$4.7bn, with Malaysia and Thailand being the largest markets. British Columbia currently exports medical devices to the ASEAN region, opportunities exist to increase the number of exports and expand into biopharmaceuticals and Healthcare IT.
Learn more about British Columbia's export opportunities in Southeast Asia.