Biotechnology Summer Training in Lucknow | Experiome

 

BIOTECHNOLOGY:India’s Sunrise Sector

Biotech sectors have seen a spike in start-ups in recent years, with the goal of becoming a 5 trillion business by 2024, earning them the moniker "India's Sunrise Sector."

India has risen from 52nd to 46th place between 2019-2021, with a 12.5 percent increase in 2020. Over the last five years, the bioeconomy has seen a nearly 95% increase in valuation, with the COVID-19 epidemic increasing it even more. In recent times, the Bio Economy's contribution to nation ’s GDP has increased steadily. The Bio Economy contributed 1.7 percent of GDP in 2010, but just by 2020, it has jumped to 2.7 percent. The sector is also generating more to nation ’s GDP and is a crucial component of India's goal.

Biotechnology requires both physical (roads, railroads, ports) and scientific (incubators, equipment, animal rearing, etc.) infrastructure. India has made considerable progress in terms of physical infrastructure and now has to concentrate on research infrastructure development. Biotechnology is organised into five areas: biopharmaceuticals, bioservices, bioagriculture, bioindustry, and bioinformatics (or Bio-IT).

India has emerged as a key vaccine maker in the biopharmaceuticals sector, with a leadership position in the provision of various vaccinations, among others. India is indeed a pioneer in biosimilars, with one of the largest proportion of biosimilars licenced in the country. The biosimilars sector in India is expected to expand at a CAGR of 22% to hit $12 billion by 2025.India has emerged as a key vaccine maker in the biopharmaceuticals sector, with a leadership position in the provision of various vaccines, among others. India is indeed a pioneer in biosimilars, with one of the largest proportion of biosimilars licenced in the country. The biosimilars sector in India is expected to expand at a CAGR of 22% to hit $ 12 billion by 2025. India has a strong expertise in contract manufacturing, research, and clinical trials in the bio-services sector, and is home to the most US FDA-approved plants outside of the US.


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