What is Industrial Biotechnology?
Industrial biotechnology is one of the most promising new approaches to pollution prevention, resource conservation, and cost reduction. It is often referred to as the third wave in biotechnology. If developed to its full potential, industrial biotechnology may have a larger impact on the world than health care and agricultural biotechnology. It offers businesses a way to reduce costs and create new markets while protecting the environment. Also, since many of its products do not require the lengthy review times that drug products must undergo, it's a quicker, easier pathway to the market. Today, new industrial processes can be taken from lab study to commercial application in two to five years, compared to up to a decade for drugs.
The application of biotechnology to industrial processes is not only transforming how we manufacture products but is also providing us with new products that could not even be imagined a few years ago. Because industrial biotechnology is so new, its benefits are still not well known or understood by industry, policymakers, or consumers.
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