Indian biotech industry swot analysis and perspectives

Abstract

As the government is to release its Biotech Strategy Plan for the next 10 years, to consolidate all the efforts the Indian biotech industry has made during the last decade, we will see that those latter have enabled to build an important and growing industry. The turnover of the Indian Biotechnology industry was more than one billion US dollars in 2004-2005, an annual increase of 36%. Biotech in India accounted for almost 2% of the global biotech market in 2003. Over the next five years it is estimated to capture 10% of the global market. And according to the Government, Biotechnology is important to India because it can deliver the next wave of technological change that can be as radical and even more persuasive than that brought about by IT. Employment generation, intellectual wealth creation, expanding entrepreneurial opportunities, augmenting industrial growth are a few of the compelling factors that warrant a focused approach for this sector. The Pharma and healthcare area accounts for more than 75% of this biotech market. We will focus in this report on this heath part of the Indian Biotech industry. We will study its structure, see what are the factors, general or Indian-specific, that have influenced the development if this industry and finally recall all the points for the creation of added value in such an industry to analyze the Indian perspectives.