INDIAN BIOTECH INDUSTRY AT A GLANCE IN 2021 - 2022 India is among the top 12 destinations for biotechnology across the globe. The Indian Biotechnology industry comprises around 5000 biotech companies, with 4,240 being start-ups and 760 being core biotech companies, with the number of start-ups expected to touch 10,000 by 2024.
India has 665 FDA-approved plants in the US; 44% of the global abbreviated new drug applications (ANDA) and more than 1400 manufacturing plants, which are compliant with WHO’s requirements.
As of 2021, India’s biotech industry clocks in about US$ 12 billion in annual revenue. India is the world’s third-largest producer of recombinant Hepatitis B vaccine and second-largest producer of BT cotton . In the Indian biotechnology market, biopharmaceuticals is the largest segment, accounting for 62% share.
Industry ForecastThe Indian biotechnology industry, which stood at US$ 63 billion in 2019, is expected to reach US$ 150 billion by 2025, with a CAGR of 16.4%. By 2025, the contribution of the Indian biotechnology industry to the global biotechnology market is expected to grow to 19%. The Indian biologics market is forecasted to reach US$ 12 billion by 2025, at a CAGR of 22%.