Following annual growth of 87%, Lithuania’s Biotech sector is focusing on building international connections
In 2020, Biotech accounted for 2.5 per cent of Lithuania’s GDP, equating to year-on-year growth of 87 per cent. This thriving sector provides opportunities for further international cooperation in the field of Life Sciences.
A 900% increase in Biotech revenue between 2010 and 2020 places Lithuania among Europe‘s fastest-growing Life Sciences destinations. With the aim of achieving 5 per cent of GDP share by 2030, the country‘s Biotech community is focused on attracting investments and securing stable government support.
In a country of 2.8 million citizens, six universities offer study programmes in Biotech-related fields, while 2,500 people work in the private Biotech sector alone. Lithuania has already achieved Biotech success in the US, Germany, and the UK markets, where Lithuanian companies are developing gene-editing, drug discovery and clinical trial solutions.
Among the institutions driving the sector forward are the Lithuanian Biotechnology Association (LBTA) and the governmental agency Enterprise Lithuania, responsible for connecting Lithuanian companies with stakeholders abroad.
In 2012, Enterprise Lithuania organised the first edition of Life Sciences Baltics forum in Vilnius. The event helped attract the most influential people from the sector. Now, Life Sciences Baltics is an exclusive event that enables world-class experts to meet the emerging leaders from the fast-growing Baltic Life Sciences hub together in one place. This year, the forum will take place on 20-24 September, and features an international conference with keynotes, panel discussions and company presentations, a startup pitch battle, virtual exhibition and B2B meetings.
The conference programme will highlight the areas in which Baltic Life Sciences excel – digital health, gene editing, MedTech, early drug discovery, imaging, personalised medicine and the microbiome. Keynotes include one of the leading minds behind CRISPR-Cas9 gene editing technology, the internationally renowned Lithuanian researcher Prof. Dr Virginijus Šikšnys, alongside the 2017 Nobel laureate in Chemistry, Dr Richard Henderson, and the president of AskBio, Katherine High.
German industry has partnered with Lithuania for decades. But recently their collaboration has deepened.
Over the last years, German companies, notably Continental, Hella, Rehau and Schmitz Cargobull, have established a significant presence in Lithuania. . One of the most recent stories of German-Lithuania cooperation is demonstrated by Elinta Charge. This Lithuanian company is on a mission to unleash e-mobility by designing award-winning smart AC chargers for electric vehicles (EVs).
According to Quantilope, 49% of Germans bought gifts online for Christmas 2020. Meanwhile, data from Statista shows that 64% of these purchases were made using a smartphone or a tablet. Based on these findings, it is clear that the e-commerce market in Germany is now of paramount importance.