Overview of the Biotechnology sector in India
September 2011: Overview of the Biotechnology sector in India
Vaccine manufacturing is a major opportunity area as India is poised to become the world’s largest vaccine manufacturing hub. Stem cell research is another area where India provides opportunities. India is the second country after the US to allow the human clinical trials for drugs using stem cell technology. Major hospital like AIIMS and CMC Vellore has launched stem cell research centers. With the development of infrastructure through the biotechnology parks and building of human capital through postgraduate programs in biotechnology and related fields, India provides all the necessary ingredients required for growth. Government’s introduction of new regulations for biotechnological products, separating it from other Pharma products, will go a long way in establishing the country to the global biotechnology arena. With a current growth rate of over 20% CAGR, the market provides opportunities for both the domestic as well as global companies and investors to tap the opportunity.