The Indian biotech industry registered 18.5 per cent growth in FY12; total industry size stood at US$ 4.3 billion by the end of the financial year. The industry is expected to increase in size to US$ 11.6 billion by 2017, driven by a range of factors including growing demand, intensive R&D activities and strong Government initiatives.
The bio-pharmaceutical sector accounted for the largest chunk of the biotech industry, with a share of 62 per cent in total revenues in FY12. Bio-services and the bio-agri segments followed the bio-pharmaceutical segment with a share of 18.3 per cent and 14.9 per cent respectively in the same year.
Domestic bio-services sector recorded a growth of 102 per cent in FY12 to US$ 109.3 million. The domestic bio-pharma sector, which accounts for more than 61 per cent of the domestic biotech industry, registered a 26.6 per cent growth in FY12; in comparison growth in domestic bio-informatics sector was 24 per cent.
Revenues from bio-pharma exports were valued at US$ 1.3 billion in FY12, constituting 63 per cent of the total export revenues of the biotech sector.
India is amongst the top 12 biotech destinations in the world and second in Asia, after China. India is also the largest producer of recombinant Hepatitis B vaccine in the world.
Ranbaxy, Cadila Healthcare, Lupin, Wockhardt and Dr Reddy's are among the major Indian pharmaceutical companies that operate in the bio-pharma segment.