Skilled Professionals, Lower Costs and Increasing Government Support Drives the Biotechnology Industry in India, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive report on the Biotechnology Industry in India. The Indian Biotechnology Industry is forecast to garner revenues of $11.7 billion by the year 2017. Skilled professionals, lower costs, increasing government support, well established infrastructure, strong private and public sector participation, and a large domestic market are some of the key factors driving growth in the Indian Biotechnology Industry. Other growth drivers include improving incomes, growing population, increasing R&D and infrastructure investments by private and public sectors, rising lifestyle diseases, increasing opportunities to outsource manufacturing, and an emerging market for contract research.

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Biotechnology In India: An Indian Market Report

San Jose, California (PRWEB) May 10, 2012

Follow us on LinkedIn – Although biotechnology as a science is not new to India, the area developed into an established and promising industry only during the past two to three decades. Presently, biotechnology represents a fast-growing, knowledge-based sector in India, which plays an important role in the rapidly growing economy of the country. Biotechnology in India is a highly technology-based industry, which presently accounts for a share of 2% in the global biotech industry. From playing a supplemental role until the recent years, biotechnology industry in India is expected to play an increasingly important role in the global biotechnology arena. Major growth areas within the industry include bio-pharmaceuticals, bio-agriculture, and bio-services, although other sectors are expected to post substantial growth in the coming years.

The Indian biotech industry managed to emerge out of the global recession largely unscathed, registering only a slowdown in revenue growth. In the upcoming years, the industry is estimated to witness another period of high growth, as drug developers worldwide are looking to India as a low-cost destination for outsourcing their discovery and production work, and as global developers continue to scout for more efficient and cost-effective ways to develop novel therapies. For instance, multinational biotechnology and pharmaceutical companies from the US and Western Europe are using India and China to undertake phased studies on markets in the emerging countries. Due to the stringent policies and escalating R&D expenses, producers in the regulated markets are expected to undertake increased cost cuttings. To offer improved outsourced and collaborative R&D services, pharmaceutical production hubs, such as Bangalore, Hyderabad, Chennai, Delhi, Ahmedabad, and Mumbai, are expanding at a brisk pace.

Biopharmaceutical represents the largest sector in the Indian biotechnology industry, as stated by the new market research report on Biotechnology in India. Bio-services trails behind Bio-Pharmaceuticals. Growth in the market is primarily expected to emerge from the Bio-agriculture sector, which is forecast to emerge as the fastest growing sector in terms of revenues during the analysis period. Exports continue to account for the largest share in the revenues of the Indian biotech industry, reflecting the continued focus of Indian biotech companies on the international markets. While segments, such as Bio-pharma, bioinformatics and bio-services represented a substantial chunk of the export market, bio-industrial and bio-agri generated a major share of revenues serving the domestic market.

However, some of the biggest challenges that the Indian biotech industry currently faces is the need for superior organized resources in the form of large animal and transgenic animal facilities, molecular and chemical screening libraries, wide accessibility of technology platforms, trade related testing as well as accreditation facilities, and level-3 biosafety facilities to assist research on the infectious diseases. The industry also faces challenges in the form of manpower shortage, especially in finding skilled manpower at the high-end. This includes experienced high-end personnel in the area of oncology, medicinal chemistry, drug delivery, and in-vivo pharmacology. Besides, the industry is also in serious shortage of experts in the areas of intellectual property rights management, technology transfer, technology management, clinical services, and early drug discovery and innovation.

Over 350 companies operate in the biotechnology sector in India. Major players profiled in the report include Biocon, Serum Institute of India, Panacea Biotec, Nuziveedu Seeds, Reliance Life Sciences, Quintiles, Rasi Seeds, Novo Nordisk, Shantha Biotechnics, Mahyco, Bharat Biotech International Limited, Jubilant Life Sciences Limited, Dr. Reddy's Laboratories Ltd., GlaxoSmithKline Pharmaceuticals Ltd., among others.

The research report titled “Biotechnology In India: An Indian Market Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Indian Biotechnology Industry, current market trends, key growth drivers, overview of major sectors, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides revenue estimates and projections for biotechnology industry in India for the years 2009 through 2017 by the following sectors – Bio-Pharmaceutical, Bio-Agriculture, Bio-Industrial, Bioinformatics, and Bio-Services. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Biotechnology_In_India_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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