The Potential of Biotechnology to Generate Prosperity

Abstract

Biotechnology is considered now as a key knowledge-based business that generates products and processes for the growing global needs. Biotechnology offers modern solutions for almost every aspect of human life: economic , social, health and environment. It promotes sustainable economic growth, increasing productivity and diversity and lowering by-products and wastes generation. Modern diagnostic approaches, therapeutic solutions, vaccines and other pharmaceutical products are generated by biotechnology. These achievements are intended to increase the survival rate and to lower the resources and pain associated with a non-suitable treatment. Biotechnology also offers solutions for producing food enriched with specific nutrients, with significant contribution to a proper human health condition and even to malnutrition. Microbial processes are successfully used for improving the environmental quality by biodegradation and bioremediation. Economic prosperity is expected in rural areas or in developing countries based on agriculture, as well as in developed economies where biotechnology engenders "high-tech" solutions.