India Biotechnology Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 14.50% (2024-2032)

Market Size in 2023: USD 28.5 Billion

Market Size in 2032: USD 103.3 Billion

The India biotechnology market is rapidly expanding, driven by advancements in healthcare, agriculture, and environmental solutions, attracting significant investments. According to the latest report by IMARC Group, the market size reached USD 28.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 103.3 Billion by 2032, exhibiting a growth rate (CAGR) of 14.50% during 2024-2032.

India Biotechnology Market Trends and Drivers:

The India biotechnology market is growing rapidly due to a combination of factors, including significant R&D investments, strong government support, and rising demand for biopharmaceuticals and agricultural biotechnology. Government initiatives, such as the National Biotechnology Development Strategy and the "Make in India" campaign, are fostering innovation and attracting global and domestic investments.

In healthcare, biotechnology applications in biopharmaceuticals, vaccines, and diagnostics are expanding swiftly, driven by increasing healthcare needs and the prevalence of chronic diseases. The robust pharmaceutical sector further strengthens biotech growth, with collaborations between pharma and biotech companies developing new drugs, vaccines, and therapies. The COVID-19 pandemic underscored the sector’s importance, accelerating progress in vaccine and diagnostic tool development.

Agricultural biotechnology is another critical driver, with the demand for genetically modified (GM) crops growing to improve yield, enhance pest resistance, and address food security challenges.

Additionally, advances in bioinformatics and genetic engineering are unlocking opportunities in fields like genomics and synthetic biology. The rise of biotech startups and increased venture capital funding are also fueling innovation in various sectors, including environmental and industrial biotechnology. With ongoing technological advancements, strong governmental support, and rising demand across healthcare and agriculture, India is set to solidify its position as a global biotechnology hub in the coming years.

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India Biotechnology Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type:

  • Instruments
  • Reagents
  • Software and Services

Breakup by Technology:

  • Nanobiotechnology
  • Tissue Engineering and Regeneration
  • DNA Sequencing
  • Cell-Based Assays
  • Fermentation
  • PCR Technology
  • Chromatography
  • Others

Breakup by Application:

  • Healthcare
  • Food and Agriculture
  • Natural Resources and Environment
  • Industrial Processing
  • Bioinformatics
  • Others 

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East and Northeast India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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