Why Biotechnology
The Indian biotech and lifesciences industry recorded the fastest pace of growth in the last five years in 2010-11 to touch revenues of USD 4 billion (Rs 18,399.34 crore), according to a survey.
Of this, the biotech industry contributed Rs 17,249.34 crore, while the life science education market made up the remaining Rs 1,150 crore, according to the 9th annual BioSpectrum-Association of Biotechnology Led Enterprises (ABLE) survey.
The biotech industry, without the life sciences education component, recorded revenue growth of 21.5 per cent vis-a-vis 2009-10 revenues of Rs 14,199 crore.
The top 10 South-based companies, led by Biocon, accounted for USD 1 billion (Rs 4816 crore) in revenues. The contribution of the 'BioPharma', 'BioServices', 'BioAgri', 'Bioindustrials' and 'Bioinformatics' verticals was Rs 10,645 crore, Rs 3,245.97 crore, Rs 2,480 crore, Rs 626 crore and Rs 252 crore, respectively.
The BioPharma vertical contributed almost two-fifths of industry revenues, followed by BioServices with 18.82 per cent and BioAgri with a 14.38 per cent contribution. Bioindustrials and BioInformatics made up the rest of the industry revenue.
The fastest growing sector, BioAgri, has increased its market share in the last five years from less than 5 per cent to over 14 per cent of 2011 industry revenue.
BioInformatics companies saw exports increase in 2010-11 and accounted for 42 per cent of total revenues, with more focus on customers in the US and Europe.
Growth of biologics in the domestic market gave an 8 per cent boost to the BioPharma segment, which clocked about 21 per cent growth in 2010-11, the survey revealed