The biotechnology research and experimental development sector in Finland stood at €102.3 million in 2023. Historically, from 2014 to 2023, the turnover increased significantly, driven by substantial variations, particularly in 2018 (48.42%), 2020 (73.91%), and a minor setback in 2019 (-6.82%). The last two years saw moderate yet positive growth in 2022 (16.15%) and 2023 (13.79%). The average annual growth over the past five years (CAGR) was 16.88%, underlining a robust upward trajectory.
Future trends indicate continuous growth with forecasted turnover reaching €163.6 million by 2028, yielding a forecasted 5-year CAGR of 7.36%. The expected five-year growth rate is 42.63%, indicative of a steady, albeit slower, increase in turnover compared to previous years.
Future Trends to Watch:
- Emergence of new biotechnological innovations and applications.
- Potential impact of government policies and funding on research activities.
- Increased investment from private and public sectors in biotechnology.
