Iceland makes an ideal home for biotechnology research as the population is, genetically speaking, relatively homogeneous. The country has a sophisticated, high-quality healthcare system and extensive genealogical records.

A pioneer in its field in Iceland, deCODE Genetics operates one of the most technologically advanced high-throughput genotyping laboratories in the world. Together with pharmaceutical companies and other healthcare institutions, deCODE aims to utilize its research to develop new methods for identifying, treating and preventing disease.

The extreme and unpolluted Icelandic nature offers both unique geothermal areas and ideal automatic in-field containment of many transgenic plants. The advanced health industry and well educated workforce has led to a rapid growth in the pharmaceutical industry, development of medical diagnostic technology and prosthetics.