The technology grew and diversified as advances in genetics, microbiology, immunology, biochemistry, molecular biology and other scientific disciplines gave us a greater understanding of how living cells work at the molecular level. Realizing the potential benefits of the technology, companies began adopting biotechnology as a powerful new tool for industrial research and production. Today, biotechnology is used by many industries working in pharmaceuticals, agriculture, chemical products, environmental remediation, and energy. Companies involved in biotechnology range in size from small entrepreneurial start-ups to large multinational corporations employing thousands of people. Because the applications of biotechnology are so diverse, and because the industry is growing rapidly, a career in biotechnology can be exciting and rewarding for students with an interest in science or engineering.
Biotechnology is one of the most prestigious, fastest growing sectors in the global economy.
From the late '80s to the early '90s the number of biotechnology companies in the US grew from 360 to nearly 1,200 with a significant related increase in employment and sales revenues. The number of businesses focused on medical applications of biotechnology grew nearly six-fold during the same period. Six of the ten top states in biotechnology are located in the East, accounting for nearly 80 percent of all biotechnology employees. Connecticut hosts a vibrant biomedical research community that is an important and growing source of economic developments and is home to the essential ingredients for a thriving biotechnology industry. Connecticut's biomedical research sector consists of pharmaceutical companies, research universities, hospitals and biotechnology companies.