India is the 3rd largest biotech destination in the Asia Pacific Region: Biotechnology

India is the 3rd largest biotech destination in the Asia Pacific Region: Biotechnology 

India - a biotech growth catalyst

India is among the world's top 12 biotechnology destinations, with a share of approximately 3 percent in the global biotechnology industry. India is also the pioneer in the global production of vaccines for DPT, BCG and measles.

India's biotechnology industry consists of 2700 + start-ups in the biotechnology market and is projected to grow to 10,000 by 2024. In India, there are more than 2500 + biotech firms.

India has the highest number of authorised US FDA plants (665) outside the US, with 2000 WHO-GMP compliant manufacturing plants. Indian companies were also responsible for 33 percent of the business permits issued in FY 20 by the USA.

The Indian biotechnology market is projected to cross 150 bn by 2025.

By 2025, the Indian biotechnology industry's contribution to the global biotechnology market is projected to rise from 3 percent in 2017 to 19 percent.

100 percent FDI for greenfield pharma is permitted under the automatic path by the government.
Under the government route for brownfield pharma, 100 percent FDI is authorised under the automatic route for up to 74 percent FDI and over 74 percent is under the government approval route.
Under the automated route for the production of medical devices, FDI up to 100 percent is permitted.

By 2025, the Indian biotechnology industry, valued at 62 bn in 2019, will hit a target of 150 bn.

The industry is divided into five main segments: bio-pharmaceuticals, bio-services, bio-agriculture, bio-industrial, and bio-informatics. With 64 percent of overall sales, the biopharmaceutical sector accounts for the largest share of the biotech industry, led by bio-agriculture with 14 percent market share (2019), with bio-services accounting for 18 percent of the biotech industry. India is a leading destination for clinical trials, research and manufacturing activities, further fueling the growth of the biotech industry, while bio-industrial companies (6%) are responsible for the remaining business.

The expenditure on research and development (as a percentage of GDP) for India was 0.8 percent, according to UNESCO, and the target set by the Economic Advisory Council to the Prime Minister (EAC-PM) for 2022 is 2 percent.

Presently, India has 5, 48,719 sq. Ft. of space for incubation

BIRAC has funded and developed 50 bio-incubators since 2014, with more planned across the world.

India is one of the first countries with a biotechnology department. BIRAC (Biotechnology Industry Research Assistance Council) has also been set up by the Biotechnology Department. This non-profit interface organization is built to reinforce and enable emerging biotechnology companies to perform strategic research and innovation.