Famed for its architecture, cuisine, art and fashion, Italy’s export-oriented economy is hugely reliant on the agricultural sector which accounts for about 2% of the country’s gross domestic product (GDP). A major player in the pharmaceutical industry, Italy also has a steady biotech industry, with a constantly growing number of companies.

As more than 85% of the biotech industry’s revenue is focused in the regions of Lombardy, Lazio, and Tuscany, according to 2019 statistics, the biotech industry in Italy amounts to more than €11 billion ($11.8 billion). With more than 400 research and development (R&D) dedicated firms in the country, the biotech sector has evolved over the years, while 50% of the industry is dominated by healthcare.