Mumbai, 25th September 2024: A new insightful report on the “Biopharma Industry in India” has been published as a series of articles on Biospectrum India. Authored by Dr. H.S. Sudhira, Director of Gubbi Labs, in association with Cactus Communications, a leading science communication and technology company, the report offers a comprehensive analysis of India’s Biopharma sector, showcasing its exponential growth and emergence as a major global player in bioeconomy. The report highlights India’s contributions to affordable healthcare solutions, biosimilars, and vaccines while identifying key opportunities for innovation, international collaboration, and investment in the biopharma sector.
The biopharma sector has emerged as a critical component of the country’s bioeconomy, contributing to 49% of India’s biotechnology output. The report delves into the sector’s consistent double-digit growth, supported by government initiatives, skilled talent, and cutting-edge research, which together position India as a major player in global healthcare innovation.
Key highlights from the report:
● The Biologics CDMO Market size is expected to grow from $13.58 billion in 2023 to $24.77 billion by 2028, at a CAGR of 12.78% during the forecast period (2023-2028).
● There has been a significant rise in R&D investments, with Indian companies spending approximately 8-10% of their revenue on research, particularly in drug discovery and development.
● The biopharma segment develops products such as therapeutics, vaccines, and diagnostics. Of these, diagnostics alone account for 52% ($20.4 billion) share of the total biopharma market, while the therapeutics segment accounts for 26% ($10.3 billion). The vaccine segment (excluding COVID-19 vaccines) accounts for the rest (22%, at $8.7 billion).
● India remains the largest vaccine producer only second to the EU, with annual production capacities of around 14.5 million kgs—comparable with of the EU’s annual production capacities, of around 15.5 million kgs.
Dr. H. S. Sudhira, Director of Gubbi Labs and lead author of the report, remarked, “India’s biopharma sector is uniquely positioned to address global health challenges, from pandemic preparedness to developing advanced biotherapeutics and vaccines. The growth observed is driven by a combination of evolving regulatory landscapes and robust international partnerships, showcasing India’s significant role in shaping global healthcare innovation.”
Dr. Smita Jain, Director, Partnerships (India), Cactus Communications, commented, “As we look to the future, the country’s strides in biotechnology and pharmaceutical development are setting new benchmarks for accessibility and affordability in healthcare. This transformation highlights India’s growing influence on the global stage, shaping the future of health and wellness for generations to come.”
S. Balasubramanya, Ph.D., General Manager – Association of Biotechnology Led Enterprises – ABLE, said, “India’s biopharma industry is rapidly emerging as a global powerhouse, driving nearly half of the nation’s bioeconomy . With robust R&D investments and government support now coming from the new BioE3 policy, the sector is poised for remarkable growth, solidifying its position in the global bioeconomy. The report by Gubbi Labs in collaboration with Cactus Communications, essentially captures the same and highlights India’s pivotal role in affordable healthcare, biosimilars, and vaccines.”
Cactus Communications remains committed to fostering advancements in science and technology, driving impactful solutions that address global challenges. With a focus on innovation and collaboration, CACTUS continues to support the growth of the biopharma industry and other critical sectors, helping shape a healthier and more sustainable future.