India has gained a place among 12 top biotech destinations in the world and within APAC region, it ranks second after China. India is also world’s largest producer of recombinant Hepatitis B vaccine in the world.
- Definition / Scope
- Market Overview
- Key Metrics
- Market Risks
- Top Market Opportunities
- Market Trends
- Industry Challenges
- Technology Trends
- Regulatory Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Biotechnology is one of the 13 most exponential advance technologies in the world that have been able to extend applications ranging in areas such as environment, drugs & vaccines, diagnostics, transgenic crops, improved tools for promoting animal reproduction & quality, useful microbes and food ingredients.
The term ‘biotechnology’ is a union of biology and technology, which considers ideas such as modeling, genomic, bio-informatics, bio-simulation, and clinical information among others.
Some of the key segments of biotechnology industry are as follows:
- Bio-pharma: They are therapeutic or preventive medicines particularly extracted from natural materials in living organisms via DNA technology.
- Bio-services: They generally include, clinical research & CRO with custom manufacturing.
- Bio-agri: The segment is further divided into hybrid seeds, transgenic crops, bio-pesticides and bio-fertilizers.
- Bio-industrial: The segment primarily comprises of enzyme manufacturing & marketing companies.
- Bio-informatics: Finally, the segment deals with formation & maintenance of extensive electronic database of various biological systems.
Some of the core competencies of India for biotech sector are as follows:
- Bioprocess technology
- Gene manipulation of microorganism/animal cells
- Recombinant DNA technology
- Traditional and molecular maker assisted breeding
- Infrastructure in fabricating bio-reactors and processing equipment.
India occupies almost 2% of the global biotech industry where it currently employs about 20,000 skilled human resources.
Over time, India has hugely improved its position in the industry through infrastructure, manpower, funds but needs to bring new upgrades to existing systems and be innovative to receive funding via VC’s, need to develop bio-networking and also secure IP of their developed products to become more competent in the market.
India is also becoming a target for multinational foreign companies considering FDI in biotechnology. After Japan and Korea, India is definitely another country providing multiple opportunities for companies in the sector to thrive particularly in healthcare and agricultural sector.
Two opportunities that are currently available are: one, demand of growing population for food products and modern medicine and two, India is one of the twelve hotspot countries to have diverse species of flora and fauna and this biodiversity definitely provides an advantage to the sector.