Indian biotechnology industry to reach $11.6 billion by 2017, says GIA report

The Indian biotechnology industry is forecast to garner revenues of $11.6 billion by the year 2017, according to a new report from Global Industry Analysts. Rising investments from foreign companies, increasing R&D and infrastructure investments from private and public sectors, emerging market for contract research, increasing clinical capabilities in drug discovery, and rising opportunities to outsource manufacturing functions to the country are some of the key factors driving market growth.

Growth is also expected to emanate from indigenous factors such as rich biodiversity, increasing size of population, rising incidence of lifestyle diseases, large pool of skilled scientists, substantial infrastructure facilities, and supportive governmental policies.

Emerged stronger after global economic downturn