India's Biotechnology Sector: How India is Reinventing the Future
What exactly is Biotechnology?
Biotechnology is a combination of two words: biology and technology. It refers to the use of biological systems in a variety of industrial applications. The biotechnology business in India is still in its infancy, but it has enormous potential for future growth and expansion. The development of contemporary infrastructure facilities such as well-equipped laboratories, educational institutions offering expertise in biotechnology-related subjects, and a competent labour pool are major driving forces behind the rise of the Indian biotechnology industry.
Through the National Biotech Development Strategy (NBDPS) 2011-2020, the government has made many efforts to stimulate research and development activities in the biotech sector. NBDPS focuses on improving universities' and institutes' R&D capacities, as well as establishing infrastructure for conducting research and capacity building through skills training programmes. Genetic engineering and molecular biology, drug research and development, agricultural biotechnology, and bioinformatics are all key focal areas for NBDPS. All of these steps will contribute to the biotechnology industry's growth in India in the next years.
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How Does The Indian Biotech Industry Work?
Almost all pharmaceutical businesses work on applied research and developing novel therapies or products in India's biotech industry, which is based on a mix of basic and applied research. In 2009, the Indian government contributed 15% of money to biotechnology research, making it one of the world's major supporters. As a result, India has been regarded as a global leader in biotechnology for more than three decades. Cipla, for example, was one of the first private companies to produce antiviral medications in the wake of the HIV/AIDS crisis. Sun Pharma was also one of the first companies to create anti-cancer medications and vaccinations for infectious diseases like malaria.
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An Overview of Indian Biotechnology Industry
India is one of the top 12 biotechnology destinations in the world, and the Asia Pacific region's third largest biotechnology destination. The Biotech sector is expected to reach a market size of $70.2 billion in 2020, up 12.3% from the previous year. Over the last five years, the bioeconomy has seen a nearly 95% increase in valuation, with the COVID-19 epidemic increasing it even more. In recent years, the BioEconomy's contribution to national GDP has also increased considerably. The BioEconomy contributed 1.7 percent of GDP in 2010, but by 2020, it will have increased to 2.7 percent. The sector is also contributing more to national GDP and is an important part of India's goal of being a $5 trillion economy by 2024.
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Biopharmaceuticals, BioIndustrial, Bioagriculture, BioIT, and BioServices are the several types of biotech in India. India has emerged as a key vaccine maker in the biopharmaceuticals sector, with a leadership position in the provision of DPT, BCG, and measles vaccinations, among others. India is also a leader in biosimilars, with one of the highest numbers of biosimilars licenced in the country. The biosimilars industry in India is expected to expand at a CAGR of 22% to reach $ 12 billion by 2025. India has a strong expertise in contract manufacturing, research, and clinical trials in the bio-services sector, and is home to the most US FDA-approved plants outside of the US.
Because of the large number of science and technology graduates, India's biotech industry has over 5,000 enterprises (760 core corporations and 4,240 start-ups) 6 and a highly skilled resource pool. In the Central and Southern Asia area, India is also placed first in the Global Innovation Index.
? With a CAGR of 16.4%, the market is expected to reach $150 billion by 2025.
? An increase of 12.3% year over year ( (FY19 to FY20)
? There are over 5075 biotech startups, with 10,000 predicted by 2025.
? More than 760 biotech businesses and 200 biotech products
? Biotech startup growth has increased at a 38.1 percent compound annual growth rate (CAGR) during the last seven years.
? For greenfield pharma, 100% FDI is allowed through the automatic approach. ? 1 million+ skilled biotech workforce
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Why should you be Interested in The Industry?
The Indian biotechnology industry is one of the most thriving in the country, and it is set to grow at a breakneck pace. Biotechnology companies are now working on goods that incorporate a variety of cutting-edge technologies. Many sectors, including as microbiology, DNA sequencing technology, bioinformatics, synthetic biology, and genetic engineering, have seen an increase in job opportunities. As a result, India's biotech industry has grown to become one of the country's most important industries. Let's take a look at how India's biotech industry has grown so swiftly. Huge government investments, the availability of skilled specialists, cost-effective research tools, and the implementation of government regulations are all elements that have contributed to its success.
Pharmaceutical and Biotech Products (PBPP), Bio-Services (BSP), and Bio-Instruments are the three key segments of India's biotechnology business (BI). The PBPP segment has a market share of more than 90%, whereas BSP and BI each have a market share of only 5%. Drug Discovery, Clinical Research, Contract Manufacturing, and Molecular Diagnostics are the four sub-segments of the PBPP segment. Due to increased demand from western markets, the Drug Discovery sub-segment has grown at a rate of over 15% in recent years. Similarly, the Clinical Research sub-segment is predicted to increase at a similar rate, owing to its enormous potential in rising nations such as India.
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Industry Scenario
The Indian biotechnology industry, which was valued at $70.2 billion in 2020, is expected to grow to $150 billion by 2025. The sector is positioned for expansion, fueled by expanding domestic and worldwide demand. Domestic demand is increasing as a result of programmes like Ayushman Bharat, the world's largest government-sponsored healthcare insurance scheme, while international demand for Indian vaccines and biopharmaceuticals continues to expand. India is a significant destination for contract production and clinical trials, exporting vaccines to over 150 nations.
India was also one of the first countries to establish a Biotechnology Industry Department. Furthermore, the Department has established BIRAC (Biotechnology Industry Research Assistance Council), a non-profit organisation whose mission is to strengthen and empower emerging biotechnology businesses to engage in strategic research and innovation by guiding them from concept to commercialization.
The percentage share of the biotechnology segments is:
????Vaccine – 17.8%
????BioIT/Healthcare Research – 15%
????COVID Bioeconomy – 7.8%
????Diagnostics/Medical Devices – 25.6%
????BT Cotton – 14.4%
????Biofertilizers/Biopesticides – 1.4%
????Enzyme – 3.7%
????Biofuels- 3.6%
????Biologics/Therapeutics – 10.7%
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Growth Drivers
Population Growth
By 2027, India will overtake China as the world's most populated country.
Spending On Public Health Is Increasing
Government healthcare spending increased to 2.1 percent of GDP in FY21-22, up from 1.3 percent in FY16, with a goal of 2.5 percent by 2025.
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Initiatives to Strengthen Capacity
Supported by the 'National Biopharma Mission,' a joint industry-academic effort to improve worker skills.
The National Biomedical Resource Indigenisation Consortium (NBRIC) is a non-profit organisation dedicated to Using policy, funding, and the removal of infrastructure and regulatory constraints, India can become a net exporter of affordable diagnostics and testing kits, personal protective equipment (PPE) kits, and vaccines.
The Government can help Improve EoDB by Serving as an Enabler
Critical policy initiatives such as 'Make in India,' 'Startup India,' and 'Atmanirbhar Bharat Abhiyan' are being improved by the government as an enabler (boosting domestic manufacturing capacity).
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Industry Trends
Biosimilars' Emerging Hub
More biosimilars have been approved in the United States than in any other country. The biologics and biosimilars sector in India is expected to develop at a CAGR of 22% to USD 12 billion by 2025.
Infrastructure Development of High Quality
The Department of Biotechnology and BIRAC sponsor 9 biotech parks, 4 biotech science clusters, and 60+ bio-incubators.
Leading Vaccine Producer
Mission Indradhanush, the Electronic Vaccine Intelligence Network, and the National Cold Chain Management Information System are three of the world's leading vaccine suppliers, supplying to over 150 nations with government support.
The National Biopharma Mission - Innovate in India (I3)
With USD 250 million in support from the DBT and the World Bank, the National Biopharma Mission - Innovate in India (I3) aims to prepare India's technological and product development skills in biopharma.
Mission for Digital Health in the United States
Health ID card - health ID, digidoctor, telemedicine, ePharmacy, healthcare registry, and personal digital health records are all part of the mission to enhance access to digital healthcare and ensure responsibility.
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