A Comparison of Biotechnology Industry in Japan and Other Developed Countries

Abstract

Biotechnology has become a “global industry” with many countries trying to promote it as the next new industry. However, the state and development of biotechnology industry clearly differed even among the developed countries. This paper compares and discusses the recent state of biotechnology industry in Japan with the United States, the United Kingdom and Germany. As the second biggest biotechnology market in the world, Japan trailed behind its counterparts in the United States and Europe in the race to develop a robust biotechnology industry. This paper suggests that the current venture capital system in Japan presents a major impediment to the development of biotechnology industry in Japan.