Bio-info market in India may cross $2 B by 2008
By siliconindia staff writer | Wednesday, 28 April 2004, 07:00 Hrs
NEW DELHI: Indian bio-informatics market is expected to exceed two billion dollar by 2008 while the market for the country's biotech R&D products and services is likely to rise to around three billion dollar by 2010, according to a study by Nasscom-KPMG. The R&D work being outsourced to India in these segments relates to areas like molecular biology, DNA sequencing, molecular biology software packages and molecular modelling among others, the study said. The embedded systems segment is expected to witness a spurt in R&D outsourcing as well and will account for revenues of $1.5 billion in 2004-05. Already, Indian BPO services companies are getting into the development of embedded system tools like micro-controllers and design of hardware and software, the report said. Another sunrise sector within R&D outsourcing domain is the VLSI and chip design market which is estimated to grow into a $808 million opportunity in India by 2005. Research in basic electronics, digital electronics, VLSI design, circuit layout, design, verification and logic design will be key over the next few years. Information security solutions will also fuel R&D outsourcing services to India. At a global level, the IS market is expected to grow to $23.6 billion by 2006.