Assessment of the Competitiveness of Lithuania’s Biotechnology Sector in the Global Bioeconomy

Problem

European Union countries are committed to ensuring that the continent becomes climate-neutral by 2050. This is a strategic goal of the European Green Deal. Therefore, there is a growing need for sustainable solutions such as bio-based products, biomaterials, and modern bioenergy. The transition to low carbon, resource efficient economy is an urgent task and an opportunity to create new jobs and economic prospects.

The European Bioeconomy Strategy (2018) aligns with the goals of the Green Deal, emphasizing the sustainable use of renewable biological resources. Biotechnology is recognized as one of the key drivers of the bioeconomy, enabling the creation of innovative solutions using organisms, cells, their components, and molecular analogs for the production of bio-based products and services.

In 2020, the growing biotechnology sector in Lithuania accounted for 2.5% of the country’s GDP. Lithuania has an ambitious goal to increase the share of value added by the life sciences sector to 5% of GDP by 2030. The biotechnology subsector can significantly contribute to this goal by meeting the increasing demand for sustainable, environmentally friendly solutions. Currently, Lithuania’s primary biotechnology capabilities are directed toward medicine and human health, with concurrent development of industrial biotechnology and food biotechnology. However, considering the emerging trends in sustainable economic development and Lithuania’s ambitious goals in the field of biotechnology, it is important to assess the country’s potential to meet the demand for sustainable biological products and solutions and compete in the global bioeconomy.

Goal

Project goal  – to assess Lithuania’s biotechnology sector’s potential for integration and competition in global bioeconomy value chains and identify promising biotechnology subsectors for investment attraction.

Participants

2023/24

Rasa Mončiunskaitė