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A new comprehensive report on the "Biopharma Industry in India" has been published by Biospectrum India, authored by Dr. H.S. Sudhira, Director of Gubbi Labs, in collaboration with Cactus Communications, a leading science communication company.
The report offers an in-depth analysis of India's biopharma sector, underlining its rapid growth and increasing importance in the global bioeconomy. It highlights India’s significant contributions to affordable healthcare solutions, biosimilars, and vaccines, while also identifying key areas for innovation, international partnerships, and investment.
The biopharma sector now accounts for 49 per cent of India's biotechnology output, with a consistent double-digit growth rate driven by government support, cutting-edge research, and skilled talent. The report also emphasises India's role as a leading producer of vaccines and biopharma products such as therapeutics and diagnostics.
Key findings from the report include:
The Biologics CDMO market is projected to grow from USD 13.58 billion in 2023 to USD 24.77 billion by 2028, with a CAGR of 12.78 per cent.
Indian companies are significantly increasing R&D investments, dedicating 8-10 per cent of revenue to research, primarily in drug discovery and development.
Diagnostics account for 52 per cent of the biopharma market, followed by therapeutics (26 per cent) and vaccines (22 per cent).
India is the second-largest global vaccine producer, just behind the EU, with an annual production capacity of 14.5 million kgs.
Dr. H.S. Sudhira remarked, "India's biopharma sector is uniquely positioned to tackle global health challenges, from pandemic preparedness to advanced biotherapeutics and vaccines." Dr. Smita Jain, Director of Partnerships (India) at Cactus Communications, commented, "India's biopharma advancements are setting new benchmarks in accessibility and affordability, shaping the future of healthcare." S. Balasubramanya, Ph.D., General Manager of ABLE, highlighted the role of government support through the new BioE3 policy in driving industry growth.
