sector is riding on a strong vaccine and biosimilar wave . India ’ s contribution to the global biotechnology market is expected to reach 19 % by 2025 . Currently , India exports vaccines to over 150 countries and is a leading destination for contract manufacturing and clinical trials .
Addressing the key challenges critical
The pandemic has not only accelerated the drug discovery programmes at the industry level but also highlighted the importance of R & D as the core driver of future growth . It has also made us realize the criticality of backing R & D initiatives with right measures such as investments , policies , infrastructure and regulatory de-bottlenecking . However , despite the right ingredients to create an R & D based industry , have we really been able to fully leverage our strength areas ?
Suchitra Ella , Managing Director , Bharat Biotech feels that India might get a sizable value share of the international life sciences market by concentrating on cutting-edge innovation . She outlines her solution : “ India must move quickly to seize this significant potential , and the government must facilitate this process by establishing a favourable physical , financial , legislative , and regulatory ecosystem . The scientific community , the business sector , and the government may all work together to achieve common goals in order to advance Indian biotechnology .”
Gaurav Kaushik , Managing Director & CEO , Meteoric Biopharmaceuticals believes that although relatively slow in adapting
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