India – a biotech growth catalyst

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India – a biotech growth catalyst

India

India is among the top 12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry. India is also the leader in the global supply of DPT, BCG and measles vaccines.

The biotechnology industry in India comprises about 600+ core biotechnology companies, approx. 2600+ biotech startups, 41 BIRAC-supported incubators.

India has the second-highest number of US Food & Drug Administration (USFDA)-approved manufacturing plants outside the US. The country is currently home to more than 523 USFDA approved drug manufacturing facilities.

  • By 2025, the Indian Biotechnology industry is expected to reach $ 100 bn
  • 150%: Tax deduction on R&D expenditure
  • 57.10%: Annual industrial growth
  • 55%: Bio-pharma revenue share
  • 22%: Bio-agri revenue share

Industry Scenario

The Indian Biotechnology industry that was valued at $ 51 bn in 2018, growing at 14.7% year-on-year.

The sector is divided into five major segments- Bio-pharma, Bio-services, Bio-agri, Bio-industrial, and Bio-informatics. The biopharmaceutical sector accounts for the largest share of the biotech industry with a share of 55% of total revenues, followed by bio-agri with 22% market share (2018). Bio-services accounted for 16% of the Biotech industry as India is becoming a leading destination for clinical trials, contract research, and manufacturing activities, which is further fuelling the growth of the bio-services sector, while the remaining market is catered by bio-industrial (8%).

  • India currently has 4,50,000+ sq. ft. of incubation space
  • 41 bio-incubators have been supported by BIRAC and established since 2014, with more planned across the country

India is also one of the first countries to have a department dedicated to Biotechnology. The Department of Biotechnology has also set up BIRAC (Biotechnology Industry Research Assistance Council). This not-for-profit an interface agency to strengthen and empower emerging biotechnology enterprises to undertake strategic research and innovation.

 

 

 

 

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