The future of biotechnology in India is robust. The Biotechnology sector in India is estimated to grow at around 29% CAGR by 2025. In the year 2020, the global biotechnology market size was valued at USD 752.88 billion and is expected to expand at a (CAGR) of 16% from 2021 to 2028.
Thus, making India stand amongst the top 15 biotech destinations in the world.
Biotechnology companies have developed to form backbone support to the economy of the nation.
The bio-economy includes all activities related to the production of biomass and the ways in which the biomass and its residues can be used subsequently.
Introduction to Biotechnology
There is growing consumer demand for natural products, low-carbon solutions, and bio-based innovation.
Industrial biotechnology is a key enabling technology for delivering these solutions. At the same time, there is a huge opportunity for biotechnology aligned with Agriculture & chemical sectors.
However, in the modern financial world, biotechnology companies comprise an industry sector collectively known as biotech.
The research, develop, and produce a wide variety of commercial products, though most of them focus on medical or agricultural applications.
Green Biotechnology (Agricultural Biotechnology) – Huge Growth Opportunities Ahead
The biotechnology future in India also talks about Green Biotechnology. It is the use of genetically altered plants or animals to produce more environmentally-friendly farming solutions as an alternative to traditional agriculture, horticulture, and animal breeding processes.
A green biorefinery processes (wet) green biomass, such as grass, clover, alfalfa, or immature cereals.
The first step involves fractionation of the green biomass into a nutrient-rich juice “Organic Solution” and a fiber-rich lignocellulosic press cake. This is typically performed mechanically in a screw press. Both intermediates are starting points for various valorization pathways.
Green biotechnology has various use of environmentally friendly solutions as an alternative to traditional industrial agriculture, horticulture, and animal breeding processes.
- Use of bacteria to facilitate the growth of plants
- Use of plants to remove heavy metals such as lead, nickel, or silver, which can then be extracted (“mined”) from the plants
- Genetic manipulation to allow plant strains to be frost-resistant
- Use of genes from soil bacteria to genetically alter plants to promote tolerance to fungal pathogens
- Engineering of plants to express pesticides
- Development of pest-resistant grains
- Use of bacteria to assure better crop yields instead of pesticides and herbicides
- Production of superior plants by stimulating the early development of their root systems
- Use of bacteria to get plants to grow faster, resist frost and ripen earlier.
When pharmaceutical and biotechnology come concurrently, it results in the betterment of humankind. It works differently for every patient; the dosages shall be given according to the patient’s genetic, as prescribed by the doctor.
Biotechnology for Bio Fuels
Biofuels are alternative fuels made from plant and plant-derived resources. Biofuels are used mainly for transportation. There are two types of biofuels: bioethanol and biodiesel.
Bioethanol, the principal fuel used as a substitute for petrol for road transport vehicles, is mainly produced by the sugar fermentation process of cellulose (starch), which is mostly derived from maize and sugar cane. Biodiesel on the other hand is mainly produced from oil crops such as rapeseed, palm, and soybean.
Biotechnology Future in India and Across the World
The Biotechnology sector in India is estimated to grow at around 29% CAGR by 2025. In the year 2020, the global biotechnology market size was valued at USD 752.88 billion and is expected to expand at a (CAGR) of 16% from 2021 to 2028.
The market is driven by favorable government initiatives owing to the growth of the biotechnology sector in developing countries, such as India and China.
In addition, in 2019, small molecules dominated the pharmaceutical compounds pipeline with around 22 U.S. FDA approvals as compared to eight large molecules (biotech).
Around 4 out of every 10 drugs are biotech derived, which can be attributed to the growing demand for orphan drugs and personalized medicine.
This is driving the influx of emerging and innovative biotechnologies companies, further boosting the market revenue.
The rising incidence of persistent conditions such as diabetes and cancer globally is expected to increase the need for biotechnology products over the forecast period.
It is estimated that diabetes affected more than 420 million people globally and is expected to rise to more than 600 million by 2045.
Source: Polaris Market Research
Biotechnology and its Various Applications
Biotechnology applies in the healthcare segment accounted for the largest share in the overall market.
Increasing levels of chronic diseases coupled with the demand for new drug advancements is one of the major factors pushing the market growth.
Moreover, increased demands in the personalized medicines and biosimilars are also anticipated to push this segment during the forecast period.
The biotechnology future in India is coupled with rising demand for modern and innovative technologies such as DNA sequencing, recombinant technology, fermentation, tissue engineering.
Further, increasing demand for therapeutic and diagnostic solutions on principles of red biotechnology, DNA sequencing, and recombinant technology is expected to drive the Global Biotechnology Market through 2024.
Moreover, the development of novel techniques and their implementation by the organization by collaborating with the other participants will drive the Global Biotechnology Market.
Further, the rising demand for food to meet the need of an ever-increasing population and the scarce availability of non-renewable natural resources also expected to drive the solid biotechnology future in India.
Also Watch: 10 Most Innovative Biotechnology Startups in India
Source: Grandview Research | Polaris Market Research | Market & Markets Research | Biotech Industry& Green Technology
Cover Image: Nuclineers