In this era of globalization and digitalization, industries need to keep up with the fast pace at which the world is evolving. Industries specifically relating to research and development, such as biotechnology, are seeing a trend towards globalization, where it’s at the forefront of innovation and improvement in industries such as healthcare, agriculture, and bio manufacturing. As biotechnology companies expand themselves to reach across borders and to effectively make biotech research reach across nations, the need for accurate Biotechnology Industry Translations is of the utmost importance. In this blog, we’ll delve into why biotechnological industry translations are so crucial.
According to the report by Grand View Research, the global biotechnology market was valued at USD 1.55 trillion in 2023. The rate at which the industry is growing shows no signs of slowing down anytime soon. It is projected to grow at a CAGR of 13.96% from 2024 to 2030.
The reasons for the exponential growth of this market, given in the report, are:
Accuracy of language is highly important in the biotechnology industry owing to its need for research, manufacturing, and trials conducted overseas. There are mainly four types of translation services required in the biotechnological industry:
The main reasons the biotechnology industry needs accurate translation are as follows:
The research and development stage requires reading and understanding foreign language documents such as papers, patents, reports, and scientific publications.
Biotech companies often have international teams that include researchers, engineers, and other experts who are from different countries and speak different languages. Accurate translation bridges the communication gap within the team.
Any product, drug, and vaccine developed by the biotechnology industry must comply with regulations set by various corporate health agencies. Accurate translations are of high importance when submitting regulatory documentation and obtaining approvals for marketing products in different regions.
Since biotechnology industries are growing at a rapid pace, they are not limited to geographical borders. Companies need Biotechnology Translations Services for translating case report forms, informed consent, patient-reported outcomes, and other documents to be translated to and from multiple languages.
Clinical trials require human participants who fill out the consent documents in the participant's native languages. This means that mistranslation consequences could be huge, and omitting key information about a particular drug side can result in serious side effects in clinical trials. This could bring into question the validity of the participant's informed consent and even result in serious legal issues and damage the company's reputation.
As the biotechnology industry continues its rapid global expansion, accurate translations play a pivotal role in facilitating research, ensuring regulatory compliance, and safeguarding patient safety. With the demand for biotech translations escalating, precision in language adaptation remains paramount for industry advancement and global collaboration.
