According to Datamonitor 'the biotechnology market consists of the development, manufacturing and marketing of products based on advanced biotechnology research. The market value reflects revenues of companies within this industry from product sales, licensing fees, royalties and research funding. The United Kingdom biotechnology market grew by 9.6% in 2005 to reach a value of £4.3 billion. Over the period 2001 - 2005 the compound annual growth rate stood at 9.3%.
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