TEHRAN - The secretary general of the Biotechnology Development Headquarters has actually stated about $1.8 billion have been conserved as an outcome of biotechnological activities in the field of medicine.

Efforts in the ecosystem of technology and development are so fantastic that every year we see a decline in investing foreign exchange and a boost in domestic production in the field of medicine and treatment, ISNA quoted Mostafa Qanei as saying.Products that have been made with the assistance of indigenized biotechnology have actually satisfied domestic needs, he added.

Currently, about 800 knowledge-based companies are operating in the field of biotechnology, and we are trying to increase this number qualitatively and quantitatively by increasing assistance, Qanei highlighted.In January, Qanei stated the U.S.

sanctions have hindered the nations capability to get a targeted 3 percent share of the worldwide biotechnology market.Iran is an innovative and industrialized country in the field of biotechnology and home to outstanding technologists, he added.

We might easily increase Irans share of the international biological market to three percent, he said.Considering that Iran has 1 percent of the worlds population, we intended to get 3 percent of the worlds biotechnology market, but the sanctions did not permit us to end up being an excellent actor in the field of biotechnology at the international level.The Secretary of Biotechnology Development Headquarters considered monetary exchanges to be the primary issue in this field.

In current years, we have actually tried to understand this strategy, and technologists and knowledge-based companies have likewise taken steps in this direction, and good successes have actually been attained, however we are far from reaching the preferred point, he noted.Currently, around 30 kinds of biotech medications are produced in the country in addition to kits, vaccines, and blood items.

80 percent of biotechnology pharmaceutical products are domestically produced.Biotechnology today is extensive in all fields and is no longer limited to biomedical drugs so it has actually changed injured limbs.The Vice Presidency for Science and Technology is set to achieve a 3 percent share of the worldwide biotechnology market.In May 2021, the Biotechnology Development Council launched 129 production tasks with the objective of saving up to $1.44 billion in foreign currency.Iran is ranked 12th in the world and first in West Asia in terms of biotechnology, as 9.5 percent of the income of knowledge-based companies and more than 60 percent of their exports are related to biotechnology.Foreign exchange savings of $1 billion per year by producing 22 biopharmaceuticals, gaining the first rank in biotechnology products and vaccines in West Asia, and the presence amongst the leading 5 biotechnology producers in Asia are amongst the countrys accomplishments, Qanei said in October 2020.

Up until now, 27 biotechnology medications, 12 vaccine jobs, 90 pharmaceutical basic materials, and 55 projects in agriculture and food security have actually been implemented in order to gain a 3 percent market share and biotechnology support to the advancement of the economy, he explained.MG