Growth and developement in Biotechnology Industry | Success in Biotech Industry | Bio-tech Industry | Successful Biotechnology Industry
Success in Biotech Industry
A handful of developing countries have successfully built some of the necessary scientific, technological and industrial capacity to take advantage of the opportunities presented by biotechnology. Biotechnology is an industry that is focused on the manipulation of living organisms to create commercial products. The bioscience industry is defined as including the following four subsectors:
- Agriculture feedstock provides food for our citizens.
- Drugs and pharmaceuticals keep us healthy as well as productive.
- Medical devices and equipment provide a whole variety of ways to improve the delivery of drugs and diagnostics.
- Research, testing and medical laboratories augment primary research aimed at commercialization.
Biotechnology is a generic term and encompasses a variety of scientific and technological applications across different sectors. However, this is a very broad view of this fast-growing scientific industry. Modern understanding and usage of this science, also known as biotech. Global biotechnology industry has grown tremendously. For example, it is estimated that over 400 biotechnology health products targeting over 200 diseases were in use.
The Biotech Industry: Medical and Agricultural
The biotech industry is largely divided into the medical and agricultural markets. Although enterprising biotechnology is also applied to other areas, such as the industrial production of chemicals and bioremediation, the use in these areas is still specialized and limited.
On the other hand, the medical and agricultural industries have undergone biotech revolutions. This has included new—and at times controversial—research efforts and development programs. Businesses have developed to capitalize on the boom in biotech development. These businesses have cultivated strategies to discover, alter, or produce novel biomolecules and organisms through bioengineering.
Biotechnology introduced a whole new approach to drug development that did not easily integrate into the chemically focused approach most of the established pharmaceutical companies used. The same biotechnology used for drug development can also improve agricultural and food products. However, unlike pharmaceuticals, genetic engineering did not generate a rash of new ag-biotech startups. The difference may be that, despite the technological leap forward, biotech did not fundamentally change the nature of the agricultural industry.
Indian Biotech Industry
The Indian Biotechnology Industry is one of the fastest growing industries in India. Currently India is ranked among top 12 biotech players in the world and third biggest industry in Asia Pacific in terms of number of companies in this sector. India contributes 2 % of global biotech industry. Roughly 325 companies in India operate in biotechnology sector employing an estimated 20,000 scientists. The industry achieved an annual turnover of US$ 2.5 billion in 2007-2008 which touched US$ 3 billion in 2009-2010.
India is gaining prominence as a partner of choice in bilateral cooperation in this field. India is emerging as a vaccine hub and vaccines manufactured in India is procured in large quantities internationally. Exports contribute majorly to India’s vaccine sales. Domestic companies have developed strong capabilities in vaccine development. Several multinational companies are tying up with Indian companies to market their vaccines in India.
India is among the top 12 destinations for biotechnology in the world, with approximately 3% share in the global Biotechnology industry. India is also the leader in the global supply of DPT, BCG and measles vaccines. The sector is divided into five major segments- Bio-pharma, Bio-services, Bio-agri, Bio-industrial, and Bio-informatics.
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The major Biotechnology segments, responsible for the high growth of the Industry are:
01% BIOINFORMATICS, SYSTEM BIOLOGY
Job opportunities in Biotech industry
Biotechnology sector in India employs 20,000 professionals as per the current year. Biotechnology offers a wide variety of job opportunities that aren’t only limited to one being a scientist. The jobs in biotech firms may range from sales/business development and marketing, to research and development, to manufacturing and quality control and assurance.The biotech companies in India offer expertise in bio-pharmaceuticals and in Agri-biotech. Therefore, these two areas have a lot of job opportunities in India.
One and a half decade back, India had almost 300 biotech companies whereas this number today stands at 800. More and more students are pursuing biotechnology as a career and with government initiatives to encourage this sector further, job interest in biotechnology have increased too.The launch of Biotechnology Industry Partnership Programme (BIPP) is providing a much-needed boost to industry participation. The research activities are often outsourced and thus engaging a high number of low-cost, skilled labor force.
Govt. Initiatives to boost Biotechnology Sector in India– The Indian government has provided adequate financial support for the growth of biotechnology sector and encourages state-of-the-art biotech Research and Development (R&D) facilities. As per the Ministry for Science and Technology, the biotechnology sector in India would require an investment of US$ 5 billion for further development of human capital infrastructure and R&D to realize India’s dream of valuing biotechnology technology at US$ 100 billion industry by 2025.