India is expected to be one of the top five innovative hubs with contributions of around 50 per cent of drugs discovered worldwide from India. India is one of the preferred destinations in custom research outsourcing (CRO) and custom manufacturing outsourcing (CMO). CMO has recorded around 43 per cent growth, at thrice the global market rate. The clinical trials market has witnessed 31 per cent growth during 2004-2008.
India offers a significant cost advantage over the US and is recognisedglobally for its low-cost fermentation technology and generic biologics. Manufacturing costs in India are approximately 35 to 40 per cent of those in the US, supported by low installation, manpower and manufacturing costs. Biotechnology has several constituent segments of which, bio-pharma segment accounts for the majority of the biotech industry’s revenues.
The industry is expected to witness robust growth and reach US$ 15 billion by 2015, driven by various government initiatives. Revenues from biotech exports have been valued at US$1.57 billion in 2009–2010, constituting 52 per cent of the biotech industry’s revenues.
The Eleventh Five Year Plan aims to establish biotechnology parks to involve small and medium enterprises in product development and translational research. Biotechnology infrastructure is witnessing a shift from traditional clusters to specialised industrial infrastructure such as biotech or science parks. According to the Eleventh Plan, India is well-poised to become the world’s vaccine manufacturing hub with vaccines for various therapy areas at various stages of clinical trial.
Various international collaborations with different countries are in the pipeline, directed at enabling the effective transitionof knowledge. A re-entry fellowship grant has been initiated with the UK-based WellcomeTrust. India has also partnered with countries such as the UK, Russia, Italy, the US and France to enable knowledge transition.Sectoral Presentation (November 2010)
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