ABSTRACT
Biotechnology has created more than 200 new therapies and vaccines, including products to treat cancer, diabetes, HIV/AIDS and autoimmune disorders. Humans have been using biotechnology to produce food and medicine since prehistoric times. Biotechnology is based on a thorough understanding of biological, biochemical, and genetic processes in humans and other species. Of all the commercial applications healthcare biotechnology has had both a profound significance in saving, extending, and improving human lives, as well as significant commercial returns for the scientists and entrepreneurs involved. Bioeconomy encompasses all economic activity related to scientific, research, and industrial applications based on the understanding of the generic and molecular processes of human and other species. The healthcare biotechnology industry performance during 2005. Biotechnology companies have been compared with traditional pharmaceutical companies literally every day. Healthcare biotechnology has been on an uphill competitive pathway since its inception more than 30 years ago.
