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

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  • Kulvik, Martti
  • Pajarinen, Mika
  • Sarin, 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.

Suggested Citation

  • Kulvik, Martti & Pajarinen, Mika & Sarin, Christoffer, 2025. "The Finnish Biotechnology Industry: Present Status, Expansion, and Growth Challenges," ETLA Reports 166, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:166
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    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-166.pdf
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    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets

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