Biotechnology sector development tendencies in Lithuania

Abstract

This paperwork reviews the development trends of biotechnology sector in Lithuania. Also, the types of biotechnologies, their classification and applicability in biotechnology sector are assessed. The beginning of the biotechnology sector in Lithuania is considered to be the eighties of the 20th century. However, the particularly rapid growth of biotechnology as an industrial sector has been observed in recent years. This could be attributed to massive investments, innovations and scientific discoveries that have raised biotechnology among some of leading industries. Besides, a successfully expanding sector is attracting more and more professionals in the field of science and business. It is noticeable that successful business development of the biotechnology sector requires constant investment, maintaining connection between business and science representatives and developing new relationships. One of the tools that can help to better understand how these processes work with each other and identify which ones are most critical to the successful development process of biotechnology sector is to analyse their trends. Assessing and excluding the key points in this process that have led to both positive and negative impacts on development, it is possible to anticipate and define further actions that will contribute to the successful growth of biotechnology sector.