The Biotechnology industry in India is booming and it will contributing 10 percent of global biotech industry after five years.
Biotech industry in India was estimated US$ 1.05 Billion in the year of 2005, growing at an average rate of 37 percent annually. The Biotechnology industry in India is, currently, contributing 1 percent to the global biotech industry and over the coming five years it is expected to achieve 10 percent.
India's academicians and fraternity of skilled scientists is probably among the largest in the world over 300 institutes are offering education in the biotechnology & bioinformatics fields. At present, India has more than fifteen thousand PhDs and around seven lacs post-graduates who're working in different organizations & are spanning various researches.
As per an industry analyst, with the revenue of US$ 1 Billion the biotech industry is mainly dominated by Bio-pharma. Accounting 47 percent of the total industry, the vaccines business takes a major pie of the bio-pharma. Today, India is the biggest producer of recombinant Hepatitis B vaccine in the world and the market for Hepatitis B vaccine is growing by 20% that's currently estimated US$ 22.2 Million.
According to the market research report "Indian Biotechnology Market Outlook (2006)" published by RNCOS, the Bioinformatics sector registered 25 percent growth to record a total business of US$ 23 Million and accounted for 2.11 percent of the market.
As per biotech industry specialists, most of the biotech industry's revenues are predicted to come from the pharmaceutical industry in India that is rising annually at the rate of 10 percent.
Related Market Research Reports:
Asia Pacific Biotechnology Market (2008-2012)
Booming Biotech Market in India
US Biotech Market Analysis
