Page 19 - 10 Booming Biotech Companies in India 2022

SNAPSHOT

INVEST INDIA’S

REPORT ON INDIA

AS A BIOTECH

GROWTH

CATALYST

India is among the top 12 destinations for biotechnology glob-

ally and 3rd largest biotechnology destination in the Asia Pacific

region. In 2020, the Biotech industry reached a market size of

$ 70.2 Bn, rising 12.3% from the previous year. The bioeco-

nomy has observed almost a 95% increase in valuation over the

period of five years, with the COVID-19 pandemic boosting it

even further. The BioEconomy’s contribution to the national

GDP has also grown steadily in the past years. While the BioEco-

nomy contributed to 1.7% of the GDP, this share has grown to

2.7% in 2020.The sector is also making an increasing contribu-

tion towards national GDP and is a key part of India’s vision of

reaching a $ 5 Trillion Economy by 2024.

|18 thecorporatereview.com | India | Vol. 3 | Issue 4 | April 2022 |19