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Life Science Sector

The Indian Life Sciences sector is one of the fastest-growing industries globally, playing a crucial role in the global healthcare landscape. It encompasses a wide range of fields, including Pharmaceuticals, Biotechnology, Medical Devices, and Research & Development, contributing significantly to the country's economy and public health.

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PHARMACEUTICALS

  • Pharmaceutical companies in India develop and distribute medicines to cure, treat, or prevent diseases and conditions, producing both generic and innovator medications.
  • In 2019, the global pharmaceutical industry generated an estimated business worth $1.3 trillion, with top pharmaceutical companies contributing significantly through innovative new product launches.
  • India is the largest provider of generic medicines globally and ranks 3rd worldwide for pharmaceutical production by volume.

BIOTECHNOLOGY

  • Biotechnology firms use natural processes of living organisms to manufacture products, food, and medicinal solutions or address complex challenges.
  • The global biotechnology market was valued at $449 billion in 2019 and is expected to grow to $727.1 billion by 2025, reflecting the increasing importance of biotech in various industries.
  • India ranks among the top 12 global destinations for biotechnology, with strong capabilities in biopharmaceuticals, bio-agriculture, and bio-industrial products.

MEDICAL DEVICES

  • Medical device companies develop and manufacture instruments and apparatus used to diagnose, prevent, monitor, and treat medical conditions. These can range from simple tools to complex machinery and software.
  • The global medical devices market was worth nearly $456.9 billion in 2019, driven by the release of new technologies and innovations. Leading tech giants like Google and Apple are increasingly entering the medical device space, focusing on 'Software as a Medical Device.'
  • India’s medical devices industry is one of the top 20 in the world, with a rapidly growing market supported by domestic and international demand.

Research & Development

  • Contract research organizations (CROs) and contract manufacturing organizations (CMOs), also known as Contract Development and Manufacturing Organizations (CDMOs), are essential to the pharmaceutical, biotech, and medical devices industries.
  • These organizations support research, testing, refining, manufacturing, and marketing of drugs and medical devices, making them integral to the industry’s innovation and production processes.
  • The CRO business was valued at $35.1 billion in 2018 and is projected to reach $50.7 billion by 2025, with top companies extending their global reach through mergers and acquisitions.