New data and insights on genomics and Canada's economy
Building on brand-new data from Signal49 Research, our new white paper, Canada’s Digital Biology Advantage: Transforming Industries for a New Era of Prosperity and Self-Reliance examines how genomics is shaping the future of Canadian industries and strengthening the foundations of long-term prosperity, resilience and self-reliance.
The global bioeconomy is projected to be worth US$30 trillion by 2050 (OECD).
Genomics and related biotechnologies are reshaping how economies create value. By making biology readable and usable as data, they are driving a digital biology revolution that is transforming health care, strengthening industries, enhancing preparedness and resilience, and creating new sources of growth across the Canadian economy. At its core, genomics turns biology into actionable intelligence we can use to tackle major challenges at the molecular level.
Canada enters this “bio revolution” from a position of strength. Canadian researchers, entrepreneurs and innovators have helped establish the country as a global leader in genomics. The opportunity now is to convert that scientific leadership into stronger domestic capabilities, growing companies and lasting economic advantage.
Two new reports from Genome Canada and Signal49 Research examine the economic contribution of genomics in Canada today and the much larger opportunity ahead.
Canada’s digital biology advantage | Genome Canada’s white paper explores how genomics is strengthening key industries, improving health outcomes, enabling national security and preparedness, and creating new sources of economic and strategic advantage.
The economic impact of genomics in Canada | Prepared by Signal49 Research, this companion report quantifies the economic impact of genomics in Canada today and projects its future contribution to jobs, GDP, labour income and tax revenues.
New data:
- Canada’s genomics sector supports nearly 78,000 jobs.
- The sector contributes $16.7 billion to GDP, while generating $8.9 billion in labour income and $4.5 billion in tax revenue.
- By 2035, genomics-related activity is projected to support more than 151,000 jobs.
- By 2035, genomics-related activity is projected to contribute more than $42.6 billion in GDP.
Why this matters
Like electricity, computing and the internet before it, genomics is a broad-use technology with impacts that extend far beyond the sector itself. It is improving the resilience and productivity of agriculture and aquaculture, helping protect Canada’s natural resource industries, creating new biomanufacturing opportunities and transforming health care through earlier disease detection, more efficient drug development and new treatments for serious illnesses.
The global bioeconomy is expected to grow dramatically in the decades ahead. The question is not whether genomics will transform economies, but how Canada will capture the resulting jobs, companies, intellectual property and economic value.
Together, the reports provide new evidence to inform targeted action through Genome Canada’s large-scale research and innovation missions, the Canadian Genomics Strategy and other national and provincial innovation strategies.