Indian biotechnology market is estimated to grow significantly at a CAGR of 8.1% during the forecast period. The increasing healthcare expenditure and increasing funding in cell-based research in the country are further supporting the biotechnology market in the country. The Government of India has taken some steps to promote cell harvesting techniques in the country and have set up numbers of stem cell banks throughout the country. 

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According to International Brand Equity Foundation (IBEF), the Indian healthcare market can increase three-fold to nearly $133.4 billion in 2022. The country is experiencing growth of around 22-25% in medical tourism. Various hospital chains such as Apollo Hospitals and Global Healthcare Enterprise are growing significantly in India due to a huge prevalence of cancer and related diseases. Private hospitals are expanding their business to provide a wide range of diagnostic tests and applications to a massive pool of cancer patients including foreign patients during medical tourism. 

The Indian biotechnology market is classified on the basis of type. Based on type, the market is segmented into healthcare, crop production and agriculture, industrial, natural resources & environment, and others. The companies which are contributing to the growth of the Indian biotechnology market include Amgen Inc., Novo Nordisk A/S, CSL Ltd., Bristol-Myers Squibb Co., AstraZeneca PLC, Merck & Co., Inc., Johnson & Johnson Services Inc., and Pfizer Inc. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market. 

Research Methodology

The market study of the Indian biotechnology market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from the  geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

The Report Covers

• Comprehensive research methodology of the Indian biotechnology market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian biotechnology market.
• Insights about market determinants which are stimulating the Indian biotechnology market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.