Page 21 - 10 Booming Biotech Companies in India 2022

SNAPSHOT

India’s Biotech sector is catego- Global Innovation Index amongst

rised into Biopharmaceuticals, Central & Southern Asia region.

BioIndustrial, Bioagriculture, BioIT &

BioServices. Within the biopharma- KEY POINTS

ceuticals segment, India has devel- • Forecast to reach $150 billion

oped into a prominent vaccine by 2025, with a CAGR of 16.4%

manufacturer globally, occupying a • 12.3% year on year growth

leading position in the supply DPT, ((FY19 to FY20)

BCG, and measles vaccines among • Over 5075+ biotech startups,

others. India also leads in biosimi- expected to reach 10,000 by 2025

lars, with one of the most biosim- • 760+ core biotech companies,

ilars approved in the domestic 200+ Biotech products

market. It is estimated that the • 38.1% CAGR for Biotech startup

biosimilars industry in India will growth over last seven Years.

grow at CAGR of 22% to become $ • 1Mn+ skilled biotech workforce

12 Bn by 2025. Within bio-services, • 100% FDI is allowed under the

, India offers a strong capability in automatic route for greenfield

contract manufacturing, research pharma.

and clinical trials, and is home • 100% FDI is allowed under the

to the most US FDA approved government route for brownfield

plants globally outside of the US. pharma in upto 74% FDI is under

The biotech industry in India automatic route and beyond 74%

comprises over 5,000 companies is under the government approval

(760 core companies and 4,240 route.

start-ups) 6 and is home to a strong • FDI up to 100% is allowed under

skilled resource pool due to the high the automatic route for the manu-

number of science and technology facturing of medical devices.

graduates. India is also ranked #1 SOURCE: Invest India

|20 thecorporatereview.com | India | Vol. 3 | Issue 4 | April 2022 |21