Biopharma, the biggest sector of the Indian biotechnology market, made up for around 70% of the cumulative revenue in fiscal 2008 and registered INR 75.9 Billion (US$ 1.93 Billion) in revenue. Gaining strength from the ongoing R&D, the biopharma sector will exceed INR 224 Billion (US$ 5.7 Billion) by fiscal 2013, forecasts RNCOS in its new research report, “Booming Biotech Market in India”.
According to the study, the total biopharma industry, consisting of therapeutics, vaccines, diagnostics, and other products such as statins, recorded a massive 26.9% growth in fiscal 2007 and continues to be largest contributor to the overall biotech market in India.
The RNCOS research attributes this stupendous performance of the Indian biopharma sector to the strongly growing vaccine business which accounted for about 50% of the total biopharma business in fiscal 2007. The vaccine business will remain dynamic in future, taking the overall biopharma market up. Diagnostics and therapeutics business, driven by a rise in chronic diseases and huge investments being poured into the healthcare infrastructure with several path labs and hospitals opening up in India, is also anticipated to have bright future.
The biopharma sector will further get a drive from the fact the India is forecasted to become a key biogenerics supplier to the developed world in near future, says the report.
“Booming Biotech Market in India” is an exhaustive study of the thriving biotech market in the emerging economy, India. It provides prudent research and analysis supported by statistical facts and figures on parameters that make up the structure of the Indian biotech market. It describes the market landscape and gives comprehensive information on market size, structure, key segments, domestic consumption, exports, investment, and market share of key players.
The report highlights the present and future trends and evaluates the drivers, roadblocks and opportunities for the market. Based on the thorough analysis, the report gives forecasts on the biotech market by sector, bioservices market, bioagriculture market, industrial biotechnology market, bioinformatics market and biosupplier industry.