Biotechnology - from R&D to commercialization
- Focus segments - contract research services, early stages of drug discovery, manufacturing of clinical supplies, and clinical development.
- Growth target of US$ 8.6 billion targeted by 2015
- Posted revenues of US$ 2.9 billion, during 2010
- Year-on-year revenue growth rate of 18 percent
- A US$ 3 billion giant
India’s biotechnology sector – a US$ 3 billion giant, continues to display a year-on-year revenue growth rate of 18 percent. As per the Biospectrum-ABLE industry survey (2010-2011), the Indian biotechnology industry posted revenues of US$ 2.9 billion, during 2010. It is estimated that the industry is poised to target a total turnover of US$ 8.6 billion by the end of 2015.
While this growth has been propelled by rise in domestic business, increase in exports and new product innovations a substantial portion of this growth comes from contract research services, early stages of drug discovery, manufacturing of clinical supplies, and clinical development.
India has built up a positive IP climate with the implementation of the Patent Act in accordance to the TRIPS agreement. It has a skilled and talented technical workforce but that is only part of the attraction. India has a population of over one billion and for pharma and biotech companies on the lookout for clinical research and trials, hospitals, medical institutions and patients in India are more than happy to provide participatory collaboration.
India’s bio-technology parks are some of the best in the world and its innovations in breakthrough treatments and cures are viable collaboration vantage points. India is also rich in natural resources and a study shows that, in percentage terms, India has about 7.6% of total mammal species, 12.6% of bird species, 11.7% of fishes and roughly 6.0% of total flowering plants that are present in the world. Biotech companies can utilize this immense bio-diversity, to easily find samples and, also conduct field research.
The CEO of a Canadian Research Network visited India in 2011. Abroader scheduled and participated in more than fifteen meetings in Bangalore, Delhi and Mumbai and helped identify 4 Indian organisations for student exchange and development programs.
India’s three premier research universities in the fields of science, mental health and chemical technology have signed innovation agreements (MoU’s) with Canada’s (BC) top university.
Our services resulted in an agreement between India’s leading Open University with Canada's University for Working Professionals’ for joint curriculum development, dual degree programs and to study other areas of mutual benefit.
A not-for-profit research organization from North America has identified four partner educational institutions to work with for student exchange and joint curriculum development.
The biotechnology industry can be classified into five different segments - agri-biotech, bio-industrial, bio-informatics, bio-pharma and bio-services with each concentrating on a particular niche area. Within the Bio-technology sector, the bio-pharma segment remains to preserve the first position, closely followed by the bio-industrial segment which has registered the fastest growing rate within the sector, surging from less than 5 per cent market share five years ago to over 14 per cent.
Accompanied with low-cost manufacturing facilities and research and development capabilities in the field of small-molecule generics, the Indian Bio-technology sector is well placed on the global scenario. In the wake of increased government initiatives through several funding schemes and venture capital funds that support the growth of the bio-technology sector in the country, significant improvement in the innovation in bio-technology has been registered.
The advantage of economical manufacturing costs, high quality drug research facilities, skilled and cost-competitive manpower has promoted India on the global platform of the bio-technology sector and is considered to be one of the major competitors in the race to become a leading global player. Besides offering a fast expanding domestic market, India provides a number of benefits to attract multinational companies from across the globe.