Biotechnology Sector

An Expert's View about Biotechnology in Austria

Posted on: 29 Aug 2012

Within the last few years, public funding has increased tremendously, making Austria’s biotechnology market one of the fastest growing markets in Europe.

Biotechnology Sector in Austria Austria’s biotechnology sector is one of the fastest growing biotechnology sectors in Europe. Additionally a significant number of pharmaceutical companies have their CEE headquarters in Austria. Market overview Within the last few years, public funding has increased tremendously, making Austria’s biotechnology market one of the fastest growing markets in Europe. The biotechnology and pharmaceutical sectors currently have a sales volume of EUR3 billion and is represented by about 100 companies and more than 7000 employees. The industry is still very young. The average company age is about seven years. There are several clusters, the most important one being in Vienna. Particular strength of the biotech market are: ξ Cancer research ξ Vaccinations ξ Immunotherapy ξ Rare diseases ξ Red (active pharmaceutical ingredients, diagnostics, new therapies) and White Biotechnology ξ Highly qualified staff (a number of universities are offering specialised courses, often in English) Key opportunities ξ Co-operation in Research & Development ξ CRO’s ξ Clinical Research Services ξ Laboratory equipment and supplies ξ Homeopathic medication Latest export opportunities in the Biotechnology sector Latest export opportunities in Austria Getting into the market Austrian companies prefer to have personal contacts with their partners. English is the main language in this sector (most international pharmaceutical companies have English as a working language). The UK enjoys an excellent reputation, however companies should be prepared to present their USP. As Austria is a member of the European Union, the same regulations are valid, some local restrictions might apply. More about doing business in Austria Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ξ Verena Wasenegger, British Embassy Austria. Tel: +43 (0)1 716 13 6253 or email: ξ Karin Beck, British Embassy Austria. Tel: +43 (0)1 716 13 6243 or email: UKTI Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Latest events in the Biotechnology Sector Major Events Business Development Visit – Biotech Mission to Austria and Slovakia February/March 2013 Bio Europe 2013 November 2013 Useful links More about OMIS and other UKTI services for exporters
Posted: 29 August 2012

See more from Biotechnology in Austria

Expert Views    
In-Vitro Diagnostics Market Brief 2011   By U.S. Commercial Service
Biotechnology Sector   By UK Trade & Investment
Presenting the contributor