Present Challenges of Indiaís Biotech Entrepreneurs & Itís Growth by 2025

Feb 18 2020 | India | Advertising | News |

 

The Indian Biotech industries have growth regardless of its present challenges, as the annual growth of biotech industries grows up to 12% in the recent year. Thus, the Indian biotech entrepreneurs, start-ups, biotech companies and pharma companies are still facing major challenges in this present the growth period. The Indian biotech growth is slow rate due its lack of infrastructure, as the biotech sector needs a allot of expensive instrumentation for the growth of Biotech firms whereas its allied fields like Information Technology (IT) need less infrastructure which leads to IT booming in India and by now India become a global leader in the IT sector with revenues of USD 140 billion. However, the present biotech revenue in India is USD 32 billion, but its future forecast is much higher i.e. USD 200 billion by 2025.

 

Present Challenges and New Biomedical Products

 

Most challenge in Indian biotech firms is biotech infrastructure, buying expensive biotech instruments and most of the biotech reagents and chemicals has come from the abroad till today. Although the growth in India is very slow and steady. The revenue generated in 2016 is USD 11 billion, there after the growth rate is not much higher yet.


India Govt. has created few supportive ecosystems like making the Department of Biotechnology (DBT), Biotechnology Industrial Research Assistant Council (BIRAC) long time back, but its function is still challenging and its slow due to corruption in Govt. System. The Govt. fund allotted at the moment are INR 25 billion till today, which is not sufficient for the present need. The Govt & DBT supported many biotech R & D centres, Labs, Training centre and Biotechnology Innovation Parks for the support & infrastructure investment but this is not sufficient for the present requirements.


However, another big challenge in the present senior for biotech booming is the lack of skilled manpower. India has a big opportunity to boom its biotech revenues, but lack of skilled manpower, private investment, product development and marketing, Govt. policy, bioethical challenges, FDI investment in the biotech sector, lack of biotech product design & analysis from prototype to industrial scale, drug approval institution and policy maker has put its growth in a snail speed. 

 

Most significant requirements for this present challenge are not only in support of the biotech start-ups with ignite grant of INR 5 million, but also glue stick grant for the industrial scale or commercial scale ups.

 

Growth Opportunity

 

The most favourable condition of India’s biotech growth was the Indian pharmaceutical sector, which generate 20% of global generic drugs with an estimated revenue USD 25 billion till today. This Indian generic drug making pharmaceutical ecosystem has huge support to the biotechnology sector booming in the near future. As the most the investment is going to Drugs development, Medical Device, Medical Instrumentation manufacturing and Diagnostic kit development, which has a market share of 64% biopharmaceutical. However, the Biotechnology services 18%, Agri-biotechnology 14%, Industrial Biotechnology 3% and Bioinformatics 1% market share.

 

From the above, it has shown that the next big biotech revolution in India will comes from the Agri-Biotechnology sector, as the Indian economy is based on agriculture and farming.

 

Biotechnology Growth by 2025


The Government of India is very supportive towards the biotech industry. The govt. policy change and less regulatory process in the biotech sector will definitely boost the biotech products pipelines.  


The western pharmaceutical and biotech firms are not making any Indian drugs and biotech products and shows less interest on it. The consumer demand for drugs and biotech product in India is very high, which will lead the growth of production of drugs for Indian diseases and biotech product will boost soon by increasing the present revenue to a new height.  


As we know, our population is 1.3 billion and its rising day by day, and health care is India’s one of the fastest growing sectors, increasing the income level of Indians and their high demand in high lifestyle demand as high investment in health care. This booming of health care sector will reach into the sky high of USD 500 billion by 2025. Similarly, If the present challenges of the biotech sector are changed, then it has been estimated that by 2025, our biotech revenues will increase to USD 200 billion.

 

 

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