Bio-Pharmaceuticals Industry in India to Reach INR 2,891.70 Bn in 2023
Research On Global Markets has announced the addition of a market research report titled “Bio-Pharmaceuticals Industry In India (2018-2023)” to their offering. According to the report, the bio-pharmaceuticals market in India is expected to reach a value of INR 2,891.70 Bn in 2023, expanding at a compound annual growth rate (CAGR) of 31.7% since 2018.
Currently, bio-pharmaceuticals is one of the fastest growing biotechnology segments in India. The significant bio-pharmaceutical clusters of India are located in Haridwar, Sikkim, Hyderabad, Vishakhapatnam, Chennai, Pondicherry, Mysore, Mumbai, Ahmedabad, and Delhi NCR, which cater to nearly 50% of the global demand for pharmaceutical products and most of which are based on the usage of biotechnological applications.
The research report published by Research On Global Markets features a comprehensive analysis of the Indian bio-pharmaceuticals industry, which is flourishing on the various government initiatives and investments. The major investors in the Indian bio-pharmaceutical market are AstraZeneca, Johnson & Johnson, GlaxoSmithKline (GSK), Nipro and Otsuka. In 2017, 46 mergers and acquisition (M&A) deals were signed in the Indian bio-pharmaceutical market, generating business worth INR 94.77 Bn. Indian government has also taken the initiative to set up an electronic platform for regulating online pharmacies. ‘Pharma Vision 2020’ has been unveiled so that India can emerge as a global leader in terms of end-to-end drug manufacturing.
According to Research On Global Markets, the educational qualifications and skillset of the Indian people, the country is considered to be a significant center for bio-pharmaceutical research and development (R&D), especially for vaccine manufacturing. India consists of 0.13 Mn highly skilled and experienced scientists who serve as a strong support system for the business process of the bio-pharmaceutical industry. The Government of India has also approved an investment of INR 15,000 Mn under the Innovate in India (i3) program, for collaboration of industrial organizations and academic organizations over the next five years. This program is expected to provide a considerable push to the bio-pharmaceutical production in the country.
Research On Global Markets tracks the performance of the major players operating in the Indian bio-pharmaceuticals industry including Biocon Ltd., Cadila Healthcare Ltd., Dr. Reddy’s Laboratories Ltd., Panacea Biotec Ltd., Wockhardt Ltd., GSK Pharmaceuticals Ltd., Bharat Biotech International Ltd., Bharat Serums and Vaccines Ltd., Indian Immunologicals Ltd., and Serum Institute of India Pvt. Ltd., among others.
Key highlights of this report:
- Bio-pharmaceuticals market definition and structure
- Market size and growth forecast - value-wise (FY 2016-FY 2023e)
- Pharmaceuticals market value - country-wise split (2017)
- Pharmaceutical spending - region-wise split (2020e)
- Pharmaceuticals market players - ranking (2017)
- Bio-pharmaceuticals sales growth (2007-2017)
- Recent investments and initiatives in the market
- Key growth drivers of the market
- Key deterrents to the growth of the market
- Analysis of the competitive landscape in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for bio-pharmaceuticals in India to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.