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New Frontiers in the Life Sciences

Canadian Companies in China and India

The life sciences, with all their manifold promise, will be one of the 21st century’s most important sources of new knowledge and technological progress.

By Dennis and Sandi Jones

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They encompass everything from medical devices and technologies to pharmaceuticals and plant genetics, and their potential contributions to human well-being and economic prosperity can hardly be overestimated.

Many countries are recognizing the crucial importance of the life sciences industry to their future socioeconomic development. Its significance is underlined by the fact that it has defied the global recession by continuing to grow at a vigorous pace, especially in India and China. The Indian sector earned US$2.56 billion during 2008, and the sector has been expanding at around 20 per cent per year since 2002. As for China, its demand for medical devices and equipment alone was estimated at US$4 billion in 2008, and the rate of growth shows no sign of slowing.

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1 comment

G Young

Posted by GYoung Posted: 2010/03/18 20:45
by: GYoung

Given this comment: Several factors contribute to the importance of the Chinese and Indian markets. “The central governments of both countries have identified their life sciences industries as pillars of future economic expansion,” says Mark Bolger, EDC’s Regional Manager for Asia. It is a shame that our current government is letting an organisation like AECL and the NRU slide away.

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