The Finnish Biotechnology Industry: Present Status, Expansion, and Growth Challenges

Kulvik MarttiPajarinen MikaSarin Christoffer

Abstract

Over 830 companies operate in Finland’s biotechnology industry. Together, they generate a total turnover of 7.1 billion euros and employ approximately 19,400 people. Technology and business opportunities are developing particularly rapidly in the field of modern biotechnology which is based on molecular biology. Over the past 15 years, numerous modern biotechnology companies have been established in Finland. One of the challenges facing the growth of these companies is the regulatory process. Challenges related to sales, marketing, and the functioning of distribution channels have also often become obstacles to growth. If these issues can be successfully addressed, the modern biotechnology sector in Finland has the potential to grow significantly.

Publication info

Results of research
The importance and growth of the biotechnology industry
Research group
Business renewal
Series
ETLA Raportit - Reports 166
Date
09.09.2025
Keywords
Biotechnology, Biotech, Significance, National Economy
ISSN
2323-2447, 2323-2455 (Pdf)
JEL
J22, J30, J45
Pages
28
Language
Finnish