India Biotechnology Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[227+ Pages Report] According to Facts & Factors, the India biotechnology market size in terms of revenue was valued at around USD 92.5 billion in 2023 and is expected to reach a value of USD 421.2 billion by 2032, growing at a CAGR of roughly 18.34% from 2024 to 2032. The Indian biotechnology market is projected to grow at a significant growth rate due to several driving factors.

India Biotechnology Industry: Overview

India's biotechnology sector is one of the fastest-growing segments of the Indian economy, contributing significantly to the country's progress in healthcare, agriculture, industrial processes, and environmental sustainability. The biotechnology market in India is driven by a robust research and development infrastructure, a skilled workforce, and supportive government policies. Key areas include biopharmaceuticals, bio-services, bio-agriculture, bio-industrial, and bioinformatics. The biopharmaceutical segment dominates, with a focus on vaccines, therapeutics, and diagnostics.

India's biotechnology industry is also characterized by a strong collaboration between academic institutions, research organizations, and industry players, fostering innovation and commercialization of biotech products. The market is poised for significant growth, supported by increasing investments, rising demand for bio-based products, and advancements in genetic engineering and molecular biology.

Key Highlights

• The India biotechnology market has registered a CAGR of 18.34% during the forecast period.
• In terms of revenue, the India biotechnology industry was estimated at roughly USD 92.5 billion in 2023 and is predicted to attain a value of USD 421.2 billion by 2032.
• The biotechnology market in India is experiencing robust growth across various regions, driven by government initiatives, increasing investments, and a growing focus on research and development.
• Based on the Technology, the DNA sequencing segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the biopharmaceuticals segment is projected to swipe the largest market share.
• Regionally, South Indian region, particularly Karnataka, stands out as the most dominant in the biotechnology market in India.

Key Growth Drivers

• Expanding Healthcare Expenditure: The biopharmaceutical segment is the largest in the Indian biotechnology market, driven by the development of vaccines, therapeutics, and diagnostics. India’s prowess in generic drug manufacturing also supports this growth.
• Agricultural Biotechnology: This includes the development of genetically modified crops, bio-fertilizers, and bio-pesticides, which aim to enhance crop yield and resilience, contributing to food security.
• Government Support: Government initiatives like 'Make in India' and the National Biotechnology Development Strategy are fostering a conducive environment for the industry. Schemes such as Biotech KISAN and BioNEST promote innovation and entrepreneurship in rural and urban areas.
• Cost-Effective Manufacturing: India's strong manufacturing capabilities have positioned it as a global hub for biopharmaceuticals.
• Technological Advancements: Breakthroughs in genomics, proteomics, and other life sciences domains are fueling innovation and product development.

Restraints

• Regulatory Challenges: Complex and time-consuming drug approval processes can hinder market entry and product launch timelines.
• Intellectual Property Concerns: Protecting intellectual property rights remains a challenge due to patent infringement and biopiracy.
• Infrastructure Gaps: Limited access to world-class research facilities and skilled manpower in certain regions.
• Talent Acquisition and Retention: The industry faces competition for skilled professionals, impacting growth and innovation.
• Market Competition: Fluctuations in global economic conditions can impact demand for biotechnology products.

Opportunities

• Biosimilars: The growing biosimilars market presents significant growth opportunities due to cost-effective alternatives to biologics.
• Contract Research and Manufacturing Services (CRAMS): India's strong manufacturing capabilities can be leveraged to become a global leader in CRAMS.
• Digital Health: Integration of biotechnology with digital technologies offers new avenues for drug discovery, patient care, and data analytics.
• Agricultural Biotechnology: Developing bio-based solutions for sustainable agriculture can address food security challenges.
• Biofuels: Exploring alternative energy sources through biotechnology can contribute to a greener future.

Challenges

• High Research and Development Costs: Developing novel drugs and therapies requires substantial investments.
• Clinical Trial Challenges: Patient recruitment, data management, and ethical considerations pose significant hurdles.
• Supply Chain Vulnerabilities: Dependence on global supply chains for raw materials and components can impact production.
• Public Perception: Addressing concerns about genetically modified organisms (GMOs) and other biotechnology applications.

Segmentation Analysis

The India biotechnology market is segmented based on technology, application, and region.

• Segmentation Analysis by Technology

Based on Technology, the India biotechnology market is divided into DNA sequencing, fermentation, cell-based assays, nanobiotechnology, chromatography, PCR technology, tissue engineering & regeneration, and others.

DNA sequencing technology is fundamental to genetic research, enabling the identification of genetic variations and the understanding of genetic disorders. It is widely used in personalized medicine, genomics, and molecular diagnostics. The demand for DNA sequencing is driven by its applications in disease diagnosis, drug development, and the increasing focus on precision medicine.

Fermentation technology segment is essential in the production of pharmaceuticals, biofuels, and food products. It involves the use of microorganisms to convert organic compounds into useful products. In the biotechnology sector, fermentation is crucial for producing antibiotics, enzymes, vitamins, and other biopharmaceuticals. The growing demand for biopharmaceuticals and bio-based products is driving the growth of the fermentation market.

Cell-based assay segment is used for drug discovery, toxicity testing, and biological research. These assays provide valuable insights into cellular functions and the effects of various compounds on cell behavior. The increasing emphasis on reducing animal testing, coupled with advancements in cell culture technologies, is boosting the adoption of cell-based assays.

Nanobiotechnology involves the application of nanotechnology in biological systems, offering innovative solutions for drug delivery, diagnostics, and therapeutics. It enables the development of nanoparticles, nanodevices, and nanomaterials that can interact with biological systems at the molecular level. The potential of nanobiotechnology in targeted drug delivery, early disease detection, and personalized medicine is driving its growth.

Chromatography segment is a vital analytical technique used for separating and analyzing complex mixtures. It is extensively used in pharmaceutical research, environmental testing, food safety, and clinical diagnostics. The technology is crucial for purifying and analyzing biomolecules, drugs, and other chemical compounds. The growth of the pharmaceutical and biotechnology industries, along with increasing regulatory requirements for drug purity and safety, is driving the demand for chromatography.

Polymerase Chain Reaction (PCR) technology is a cornerstone of molecular biology, used for amplifying DNA sequences. It is widely applied in genetic research, clinical diagnostics, forensic science, and infectious disease testing. The COVID-19 pandemic has significantly increased the demand for PCR testing, highlighting its importance in disease detection and management.

Tissue engineering and regeneration segment focuses on developing biological substitutes to restore, maintain, or improve tissue function. This technology is crucial for regenerative medicine, offering potential treatments for damaged tissues and organs. Applications include the development of artificial organs, wound healing products, and regenerative therapies. The increasing prevalence of chronic diseases, advancements in stem cell research, and the growing demand for organ transplants are driving the growth of this segment.

• Segmentation Analysis by Application

On the basis of Application, the India biotechnology industry is bifurcated into biopharmaceuticals, bio-agriculture, bio-industrial, bioinformatics, and bio-services.

Biopharmaceuticals are a major segment within the biotechnology market, encompassing the development and production of drugs derived from biological sources. This includes vaccines, monoclonal antibodies, recombinant proteins, and gene therapies. The demand for biopharmaceuticals is driven by the increasing prevalence of chronic diseases, advancements in drug development technologies, and the growing acceptance of biologics and biosimilars. India’s strong pharmaceutical industry and government support for biotechnology research further bolster this segment.

Bio-agriculture involves the use of biotechnology to enhance crop yields, improve resistance to pests and diseases, and develop genetically modified (GM) crops. Biotechnology applications in agriculture include tissue culture, genetic engineering, and the development of biofertilizers and biopesticides. The need to ensure food security, improve agricultural productivity, and reduce the environmental impact of farming practices drives the growth of this segment.

Bio-industrial applications of biotechnology focus on using biological processes for industrial purposes, such as the production of biofuels, bioplastics, and enzymes. Bio-industrial biotechnology aims to develop sustainable and eco-friendly alternatives to traditional industrial processes. The push for cleaner technologies and renewable resources is driving the adoption of bio-industrial solutions in India. Key industries such as textiles, chemicals, and energy are increasingly integrating biotechnology to improve efficiency and reduce their environmental footprint.

Bioinformatics combines biology, computer science, and information technology to analyze and interpret biological data. This field plays a crucial role in genomic research, drug discovery, and personalized medicine. The growing volume of biological data and the need for advanced tools to manage and analyze this information drive the demand for bioinformatics solutions. India’s strong IT sector and increasing investment in biotechnology research contribute to the growth of this segment.

Bio-services encompass a wide range of services provided to support biotechnology research and development. This includes contract research organizations (CROs), contract manufacturing organizations (CMOs), clinical research services, and regulatory consulting. The bio-services segment is driven by the outsourcing trend in the pharmaceutical and biotechnology industries, where companies seek to reduce costs and accelerate time-to-market for their products.

Recent Developments:

• In January 2024, Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, inaugurated the Biotech Startups Expo focused on “Emerging Startup Trends in North India” at Biotech Park in Kathua.
• In December 2023, the Gujarat Chief Minister presided over the ‘Start-Up Product Launch’ during the 10th Vibrant Gujarat Global Summit. This event showcased innovative products developed by startups such as Bioscan, SynerSense, Iota, and STRUmed Solutions. Additionally, a Memorandum of Understanding (MoU) was signed between Indus Setu Global Foundation and Gujarat State Biotechnology Mission at the Pre-Summit.
• In November 2023, Bharat Biotech entered into an MoU with the University of Sydney Infectious Diseases Institute (Sydney ID) to collaborate on vaccine research initiatives, enhancing academic-industry partnerships.
• In November 2023, Bharat Biotech announced the successful completion of Phase 3 trials for its chikungunya vaccine. This homegrown vaccine holds promise for preventing chikungunya, a mosquito-borne viral disease widespread in India. The positive trial outcomes set the stage for regulatory approval and could lead to a significant public health breakthrough.
• In October 2023, Biocon entered into a strategic partnership with Merck to develop biosimilars. This collaboration between a prominent Indian biotech company and a global pharmaceutical leader highlights the growing international recognition of Indian expertise. The partnership aims to develop and market biosimilars for global distribution.

Report Scope

India Biotechnology Industry: Regional Analysis

• South India is expected to dominate the India biotechnology market

South India leads the biotechnology market, particularly driven by states like Karnataka, Tamil Nadu, and Andhra Pradesh. Bangalore, known as the "Silicon Valley of India," also referred to as the "Biotech Capital of India," has a high concentration of biotech firms, research centers, and academic institutions. Karnataka, with Bangalore at its core, dominates the South Indian biotechnology market, supported by robust infrastructure, favorable policies, and strong industry-academia collaboration.

North India is emerging as a significant player in the biotechnology sector, with substantial contributions from states like Haryana, Uttar Pradesh, and Punjab. The region benefits from a strong agricultural base, which supports biotech advancements in agro-biotechnology. Additionally, Delhi-NCR is becoming a hub for biotech startups and research institutions, and the availability of a skilled workforce contributes to this growth.

West India, including states like Maharashtra and Gujarat, is another vital region for the biotechnology industry. Maharashtra, with cities like Mumbai and Pune, has a thriving biotech ecosystem supported by significant investments, a skilled workforce, and numerous research institutions. The region is led by its industrial base and strong government support.

East India, comprising states like West Bengal and Odisha, is gradually making strides in the biotechnology sector, focusing on healthcare, agricultural biotechnology, and bioinformatics. West Bengal, particularly Kolkata, leads the region, fueled by investment in research and development and government initiatives promoting biotech innovation.

Northeast India, with its rich biodiversity, offers immense potential for biotechnological applications, particularly in bioprospecting and agro-biotechnology. Assam is emerging as a key player in this region. The region's unique biodiversity and increasing investment in biotech research drive this growth.

List of Key Players

The analysis-intensive report provides key insights into companies and organizations operating in the India biotechnology market. The study further makes a relative examination of the organizations highlighting essential business parameters such as geographic presence, business overviews, product offerings, segment-based market share, operational strategies, and SWOT analysis. Recent enterprise developments including novel product launches, joint ventures, partnerships, strategic alliances, mergers & acquisitions, and product development are elaborated upon in the report. The in-depth study thus facilitates a comprehensive analysis of market competition.

Some of the main competitors dominating the India biotechnology market include;

• Ajanta Pharma Ltd.
• Bharat Serums and Vaccines Limited
• Biocon Ltd.
• Cadila Healthcare Ltd.
• Cipla Ltd
• Divis Laboratories Ltd.
• Dr. Reddy’s Laboratories Ltd.
• Glenmark Pharmaceuticals Ltd.
• Intas Pharmaceuticals Ltd.
• Lupin Ltd.
• Panacea Biotech Ltd.
• Piramal Enterprises Ltd.
• Serum Institute of India Limited
• Shanta Biotechnics Limited
• Sun Pharmaceutical
• Zydus Cadila Healthcare Ltd.

The India biotechnology market is segmented as follows:

By Technology

• DNA Sequencing
• Fermentation
• Cell-based Assays
• Nanobiotechnology
• Chromatography
• PCR Technology
• Tissue Engineering & Regeneration
• Others

By Application

• Biopharmaceuticals
• Bio-agriculture
• Bio-industrial
• Bioinformatics
• Bio-services

By Region

• North India
• South India
• East India
• West India
• Central India