Genetically Modified Domestic Product is $350 billion in revenues, or about 2.5% of GDP-- synthesis blog

Rob Carlson is good for providing the bottom line on synbiology:
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GMDP

As I announced during a Congressional Briefing in November, the total 2012 U.S. revenues from genetically modified systems, hereafter the Genetically Modified Domestic Product (GMDP), reached at least $350 billion, the equivalent of approximately 2.5% of GDP, up from $300 billion in 2010. For comparison, according to IHS iSuppli, the 2012 globalrevenues for the semiconductor industry amounted to $322 billion. Remarkably, assuming a 2011-12 GDP annual growth rate of 2.5%, the two year, $50 billion increase in GMDP accounted for almost 7% of total U.S. GDP growth.
Due to differences in regulatory structure, financing, and, consequently, pace of development and commercialization across the industry, the GMDP naturally breaks down into the sub-sectors of biotech drugs (biologics), GM crops, and industrial biotechnology...

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