Singapore, Dec 30, 2009: The Malaysian biotechnology market is likely to grow at a CAGR of around 21 percent during 2010-2012, says a new research report “Emerging Biotech Sector in Malaysia” by RNCOS.

The report noted that Malaysia has emerged as one of the fastest growing biotechnology markets in the world. With the launch of National Biotechnology Policy, the market is expected to contribute significantly to the country’s GDP by 2020. The growth in the market can be attributed to strong government support and high investments.

The report has identified that there is a gradual increase in foreign investments in the industry. Healthcare and industrial biotechnology have attracted a lot of investments over the last few years and this trend will continue to be the same in next few years. Despite slowdown in the world economy and drying up of funding for new projects and research, Malaysia is pushing ahead with its plans to promote and make use of biotechnology to broaden the base of country's economy.

The research report demonstrates the role of government and regulatory environment in the development of industry. It also discusses all other factors that will boost the Malaysian biotechnology market in the forecast period.