India Biotechnology Market Size & Outlook, 2023-2030
India biotechnology market, 2018-2030 (US$M)
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India biotechnology market highlights
- The India biotechnology market generated a revenue of USD 39,559.0 million in 2023 and is expected to reach USD 129,627.6 million by 2030.
- The India market is expected to grow at a CAGR of 18.5% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
Biotechnology market data book summary
| Market revenue in 2023 | USD 39,559.0 million |
| Market revenue in 2030 | USD 129,627.6 million |
| Growth rate | 18.5% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, India accounted for 2.5% of the global biotechnology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan biotechnology market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 262,958.1 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
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India biotechnology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 44.86% in 2023. Horizon Databook has segmented the India biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
Indian biotech sector is growing at a significant pace, owing to the presence of more than 2,500 biotech companies and increasing government funds. As per the Union Budget (2021-2022), the government allocated USD 227.94 million for biotech R&D. In addition, under the Pradhan Mantri Aatma nirbhar Swasth Bharat Yojana, the government planned to establish 9 biosafety-level-3 laboratories.
In November 2020, the government released USD 123.26 million for COVID-19 vaccine development. Department of Biotechnology set up biotech parks and incubators across the country to provide infrastructure support while converting research into products.
In addition, the market growth is majorly driven by application of biotechnology in healthcare sector, which majorly includes recombinant therapeutics and vaccines. India is a global supplier of BCG, DBT, and measles vaccines, making it a prominent player in biotechnology market.
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Our clientele includes a mix of biotechnology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the India biotechnology market , including forecasts for subscribers. This country databook contains high-level insights into India biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India biotechnology market size, by application, 2018-2030 (US$M)
India Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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