India Biotechnology Market Size to Surpass USD 103.3 Billion by 2032, exhibiting a CAGR of 14.50% | IMARC Group
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 growing, driven by advancements in healthcare, agriculture, and industrial biotechnology applications. 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 experiencing significant growth, driven by high investments in research and development (R&D), government support, and increasing demand for biopharmaceuticals and agricultural biotechnology. Initiatives like the National Biotechnology Development Strategy and the “Make in India” campaign are fueling innovation and attracting global and local investments.
In healthcare, biotechnology applications, particularly in biopharmaceuticals, vaccines, and diagnostics, are expanding rapidly due to rising healthcare needs and the prevalence of chronic diseases. The strong pharmaceutical sector has fostered numerous collaborations between pharma and biotech companies, advancing drug, vaccine, and therapy development. The COVID-19 pandemic has further accelerated biotechnology innovations, emphasizing the importance of vaccines and diagnostic tools.
Agricultural biotechnology is also growing, driven by the need for genetically modified (GM) crops to improve yield, pest resistance, and food security. Advancements in bioinformatics and genetic engineering are creating opportunities in genomics and synthetic biology. Additionally, the rise of biotech startups and increased venture capital funding are boosting innovation in areas such as environmental and industrial biotechnology.
With ongoing technological advancements, strong government backing, and rising demand for biotech solutions in healthcare and agriculture, the India biotechnology market is poised for continued growth, establishing the country as a global biotech hub.
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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.
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