The Indian Biotechnology industry is currently valued at $64 bn in 2019 and will reach $150 bn target by 2024-25. India is ranked 12th in the world in biotech and second in Asia, after China. The Indian biotech industry is likely to experience significant growth on the back of increasing economic prosperity, health consciousness and a huge population base . The Indian Biotechonology industry is estimated to grow to a Compound Annual Growth Rate (CAGR) of about US$ 100 billion by FY25.
Bio-pharma, Bio-services, Bio-agri, Bio-industrial, and Bio-informatics are the various sectors of the Biotechnology industry in India. The biopharmaceutical sector accounts for the largest share of the biotech industry with a share of 64% of total revenues, followed by bio-agri with 14% market share (2019). Bio-services accounted for 18% of the Biotech industry.