The role of biotechnology in the development of the bioeconomy

Abstract

This paper analyzes the steps of the strategic development and use of innovations in the field of biotechnology in the largest and most developed countries of the world. Support for applied recommendations for state-level fundamental provisions regarding initiatives to develop the capacity of the biotechnology sector and increase the level of an international, strategic and competitive industry is presented. The authors conducted a study and evaluated the further promising use of innovations in biotechnology on the example of the EU-15 and EU13 countries. A regularity was revealed that the biotechnology of the EU countries (EU-15) is developed at a high national and international level. The overall results of our work have helped to define further strategic directions and presented potential prospects for innovation in the field of biotechnology, which will subsequently lead to increased investment in this area. Using the graphical method, a dynamic model of trade turnover in the bioeconomy of the EU-15 countries is presented, followed by the construction of a trend line. And also formulated and predicted the value of trade in the bioeconomy of the EU-15 and EU-13 for the next decade.