Noida, UP -- (SBWire) -- 07/17/2010 -- According to our latest research report “Booming Biotech Market in India”, the Indian biotech industry has performed reasonably well in the recent past despite the global financial crisis.
With the continuous increase in demand for vaccines, CROs, biopesticides, biofertilizers, biodiesel and biotherapeutics in India as well as abroad, the Indian biotech industry is expected to accelerate further in coming years. It is expected to grow at a CAGR of around 20% during FY2011-FY2012.
The Indian biotech industry is mainly dominated by export as more than half of the market revenue comes from this segment. This can be attributed to the fact that India is emerging as a global hub for Bioservice and Bioinformatics outsourcing. The cost of conducting clinical trials in India is around half of the developed nations. This cost competitiveness is expected to boost the country’s export market in coming years.
Apart from this, we have done an extensive research of sub segments like Biopharmaceutical, Bioagriculture and Bioservice and found that the Biopharmaceutical segment constitutes a major part of the total biotech market. It has experienced consistent rise in revenue and the trend is likely to continue in future. In addition, the report has identified various funding facilities provided to the sector either by the government or private players. The role of multinational and domestic players which contribute to the growth of this emerging market is also given in the report.
“Booming Biotech Market in India” also covers region wise analysis of the biotech industry. It provides overview of different supportive policies laid down by the government. Beside, the report provides information of various market trends. It contains the Competitive Landscape segment that enables client to understand the market structure and growth prospects in the coming years. Due consideration has been given to the possible aftereffects of recession on the industry while making the report.
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Indian Biotech Industry on Fast Growth Track
With huge human resource and cost competitiveness, the Indian biotech sector will grow at a CAGR of 20% during 2011-2012.