siliconindia | | MAY 20198Holding a Double Masters degree in Weapon Systems Technology Management (University of Pune) and Defence Management & Strategic Studies (University of Madras), Col. Hemraj is a seasoned Healthcare industry professional and has even served in the Indian Army for 23 years. SHAPING DYNAMICS OF THE BIOTECHNOLOGY INDUSTRY GLOBALLY, WITH SPECIAL FOCUS ON INDIABy Colonel Hemraj Singh Parmar, CEO, BR Lifehe global biotechnology market is growing at a break-neck speed and the overall market is estimated to grow to a size of $471 billion by the end of 2025, growing at a CAGR of 10.5 percent during the period from 2018-2025, rising from the current size of $218 billion in 2017. As per IBEF, Indian biotech industry is on a roll, and India is one of the top-10 biotech powerhouses in the world. The industry is set to contribute immensely to `Make in India' initiative. Currently, the U.S. is the biggest biotech market in the world, followed by Japan and China. The size of the Indian biotech industry in 2017 was pegged at $11.6 billion, comprising two percent of the global industry. This is a small number considering that the top five biotech firms in the world had a market capitalisation of more than $1 trillion, with J&J leading the pack with close to $350 billion in 2018. Indian government wishes to invest close to $5 billion over the next few years to take the industry size to $100 billion by 2025. Govt of India is promoting the industry through a host of initiatives such as Network of Technology Centres and promotion of startups through SIDBI & MSME. Department of Biotechnology (DBT) and some other government funded institutions such as National Biotechnology Board (NBTB) are working hard to turn India into a biotech hub for R&D, clinical research and manufacturing.Sub-divisions within the IndustryBiotechnology is a very dynamic industry and has applications in four broad major industrial areas ­ healthcare, crop production & agriculture, non-food (industrial) uses of crops & other products (e.g. biodegradable plastics, vegetable oil, biofuels), and environmental uses. Biopharma sector is the largest contributing sector, claiming about 62 percent of the total revenue, followed by bio-services (18 percent), bio-agri (15 percent), bio-industry (four percent), and bio-informatics (one percent). Buoyed by a strong demand and viable investments scenario, India has emerged as a strong destination for clinical trials, contract research and manufacturing activities.Technological Advancements that Will Help Drive the IndustrySome of the fastest growing fields in the biotech industry are the tissue engineering and regeneration segment. Regenerative medicine and bone marrow transplant are other fields with applications in replacement or regeneration of tissues or body parts. This could get further fillip by 3D or 4D printing that could prove to be a boon in the organ starved world. Regenerative medicine holds immense promise, since millions of people die each year due to non-availability of organs, and biotechnology could help in that endeavour. Also, genetic testing allows the genetic diagnosis of vulnerabilities to inherited diseases and can TIN MY OPINION
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