The Bio-pharmaceuticals market in India is expected to reach a value of INR 2,891.70 Bn in FY 2023, expanding at a compound annual growth rate (CAGR) of ~31.7% since FY 2018. Around 50% of the global demand for pharmaceutical products is addressed by India. Biotechnological applications are mostly used in the products offered.

Among India’s growing market segments, biotechnology is bio-pharmaceuticals is the fastest one presently. The market is spread over various regions in India while Hardiwar, Delhi NCR, Vishakhapatnam, Ahmedabad, Chennai, Mumbai, Pondicherry, Mysore having a biotechnological cluster.

The role of government in market growth:

AstraZeneca, Johnson & Johnson, GlaxoSmithKline, Otsuka, Nipro, etc are some of the biggest investors. In 2017, there were around 46 M&A deals in the biopharmaceutical market. This has made it to the business of worth INR 94.77 Billion.

Apart from the investments, the Indian government has encouraged setups of electronic platforms and plans to bring in regulations in the online pharmacies. With this, it has put forward its Pharma Vision 2020 where the Indian government foresees the economy as a global leader in the biopharmaceutical and drug production market.

Key factors of Growth in biotechnology India

India comprises of ~0.13 Mn highly skilled and experienced scientists who serve as a strong support system for the business process of the biopharmaceutical industry. At the international market, India is seen as the pharmaceutical research hub, especially for vaccine production.

What is driving market growth?

Since there are too many regulatory challenges in launching a new biopharmaceutical product, there are very few manufacturing industry entrants in India. Additionally, the Indian government fails to sponsor laboratory space, equipment, chemical components, consumables, etc as the main hurdle in the Growth and future of biopharmaceuticals

The new report helps you understand how the Biopharma industry in India runs as it studies its key market players. Some of them are given below:

Companies covered:
Biocon Ltd.
Cadila Healthcare Ltd.
Dr. Reddy’s Laboratories Ltd.
Panacea Biotec Ltd.
Wockhardt Ltd.
GSK Pharmaceuticals Ltd.
Bharat Biotech International Ltd.
Bharat Serums and Vaccines Ltd.
Indian Immunologicals Ltd.
Serum Institute of India Pvt. Ltd.

Category: Healthcare
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Bio-Pharmaceuticals Market In India 2017

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