By Anuj Tripathi / Posted on 23:49
The Indian biotech industry will grow at an average growth rate of around 30% a year and reach USD 100 Billion by 2025.
The Indian bio-economy grew to USD 4.3 Billion at the end of 2013, up from USD 530 Million in 2003.
The Indian biotech industry grew by 15.1% in 2012–13, increasing the market’s revenues from USD 3.31 Billion in 2011-12 to USD 3.81 Billion in 2012–13.
The market size of the sector is expected to rise up to USD 11.6 Billion by 2017 due to a range of factors such as growing demand for healthcare services, intensive R&D activities and strong government initiatives.
The Indian biotech sector is divided into five major segments — bio-pharma, bio-services, bio-agri, bio-industrial and bio-informatics.
The bio-pharmaceutical sector accounts for the largest share of the biotech industry with a share of 64% in total revenues in 2013, followed by bio-services (18%), bio-agri (14%), bio-industrial (3%) and bio-informatics (1%).
Revenue from bio-pharma exports reached USD 2.2 Billion in 2013, accounting for 51% of total revenues of the biotech industry.
Supported 270 Companies, 360 projects involving 140 Scientists and Entrepreneurs and 113 Incubators with USD 225 million, through BIRAC, a Public Sector Unit of Government of India.
24 Intellectual Property field.
124,000 sq. ft. of incubation space created.
5 University Innovation Clusters created.
1 Regional Innovation Centre.
3 Bio-Industrial Facilities.
2 Contract Service Facilities.
Source: Make in India website
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