Navigating uncertainty: impacts and adaptations for our sector
Dear members
The year 2025 begins in a climate of uncertainty that affects our entire industry. Tariffs and trade tensions are creating instability that complicates companies' strategic planning. Our sector, characterized by a diversity of business models, must adapt to contrasting realities: while product exporters face increased challenges, service exporters may see opportunities. However, even for the latter, risks remain. The shipment of study or experimental material across the border, for example, could be affected by these new trade barriers, resulting in delays and additional costs.
One factor affects everyone without exception: the rising cost of inputs. Whether we're talking about raw materials, equipment, scientific instruments or machinery, this economic pressure is weakening companies and calling into question certain innovation and expansion projects.
Another major concern is the reduction in US federal research budgets. These cuts could affect cross-border collaborations and, ultimately, the entire innovation chain. It is imperative that we remain vigilant and proactive in anticipating the impacts on our sector.
But beyond these immediate challenges, it's unpredictability that poses the greatest risk. An unstable economic and political climate slows down investment decisions, slows down strategic initiatives and harms the attractiveness of our ecosystem. Quebec must remain competitive in a world where innovation is built on a solid foundation of financing and long-term confidence.
BIOQuébec in action: adapting and innovating
In this context, market diversification becomes a necessity. More than ever, we need to explore new territories to ensure the sustainability and growth of our industry. Cross-border irritants, whether administrative delays or regulatory issues, make the situation even more complex, impacting both large companies and emerging startups.
In the face of these challenges, BIOQuébec remains focused on strengthening ties with the United States, where the critical mass of players and opportunities remains inescapable. However, we also need to be flexible and opportunistic, exploring other strategic avenues in Canada, Europe and Asia. Opening new doors in these markets will help diversify financing, partnership and development opportunities for our industry.
BIOQuébec continues to follow these issues closely and to act to defend the interests of our industry. More than ever, our ability to adapt, innovate and collaborate will be essential to transform challenges into opportunities.
We are continuing our efforts and are counting on your commitment to drive our sector forward in a rapidly changing environment.
Benoit Larose, President and CEO
Please note the newsletter is in French only.
