Growing at an average rate of about 20%, India's biotech industry comprising of bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bioinformatics may reach the $7 billion mark by the end of FY15, an industry body said in a study. "The biotechnology industry in India, comprising of about 400 companies has grown three-fold in the last five years to reach $4 billion in FY13," according to a study -- 'Access to Healthcare: Indian Perspective', conducted by The Associated Chambers of Commerce and Industry of India (Assocham). India's biotechnology sector is divided into five segments based on products and services offered - biopharmaceuticals, bioservices, bioagriculture, bioindustry and bioinformatics. "Biopharma is the largest sector contributing about 62% of the total revenue followed by bioservices (18%), bioagri (15%), bio-industry (4%), while bioinformatics is still at a nascent stage contributing just about 1% of the total revenue." With revenue generation to the tune of over Rs 12,600 crore, the bio-pharma sector comprises of vaccines, therapeutics and diagnostics. While, India has emerged as a leading destination for clinical trials, contract research and manufacturing activities owing to the growth in the bio services sector, which accounts for revenue generation worth about Rs 3,800 crore. "India's biotechnology sector is benefitting … Continue reading →

Mumbai, May 6: Growing at an average rate of about 20 per cent, Indias biotech industry comprising biopharmaceuticals, bioservices, bioagriculture, bioindustry and bioinformatics could reach the $7-billion mark by FY15. The biotechnology industry in India, comprising about 400 companies, has grown three-fold in the last five years to reach $4 billion in FY13, a study conducted by Assocham said. Biopharma is the largest sector contributing about 62 per cent of the total revenue followed by bioservices (18 per cent), bioagri (15 per cent), bioindustry (four per cent), while bioinformatics is still at a nascent stage contributing just about one per cent of the total revenue, it said. With revenue generation to the tune of over Rs 12,600 crore, the biopharma sector comprises vaccines, therapeutics and diagnostics. India has emerged as a leading destination for clinical trials, contract research and manufacturing activities owing to the growth in the bioservices sector, which accounts for revenue generation worth about Rs 3,800 crore. "Increasing investments, outsourcing activities and exports are the key drivers for growth in Indias biotech sector,'' said DS Rawat, Secretary General of Assocham. ``Biotechnology is a capital intensive sector with a long gestation period for returns. Hence, it is important to … Continue reading →