Rise of Biopharmaceuticals in India
Why and how Indian biotech companies , both established giants and nimble startups , are investing heavily in research and development to bring novel biopharma products to market
India has indeed emerged as a major player in the global biopharmaceutical market , particularly in the vaccines sector . During the COVID-19 pandemic , India ' s role in vaccine production was pivotal , showcasing its capability as a biopharma production hub .
Biopharmaceutical research in India has been steadily growing and evolving over the years , driven by various factors such as government initiatives , increasing investment in R & D , availability of skilled scientific talent , and a conducive regulatory environment .
The recent surge in interest in the biopharma space can be attributed to several factors such as :
Expiration or Near Expiry of Patents
Many biopharmaceuticals developed in previous decades are now facing patent expiration , opening up opportunities for generic and biosimilar manufacturers to enter the market . This creates a competitive landscape where companies can develop more affordable alternatives to expensive biologics , thereby expanding access to critical treatments .
Biosimilars Market Growth
There is a growing demand for biosimilars , which are highly similar versions of existing biopharmaceuticals . Biosimilars offer cost savings compared to their originator counterparts while maintaining similar efficacy and safety profiles . This has led to increased investment in biosimilar development and manufacturing , driving growth in the biopharma sector with significant investments from established Giants to nimble startups . The global biosimilars market is expected to grow at a compound annual growth rate ( CAGR ) of 15 % to 34 %. The market was valued
BioTech
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