/24-7PressRelease/ - NEW DELHI, INDIA, July 22, 2007 - Biotechnology in India is perceived as an extremely promising business however; so far the sector is barely popular among people unlike information technology. Media also failed to generate interest in Indian biotechnology.
Yet, there are positive signs, which indicate that the industry would witness a sharper growth and better visibility in the coming years. Several big biotechnology plus life sciences corporations in the world are planning to set up base in India for doing variety of activities from clinical researches to drug discoveries.
India's talent, low costs as well as capabilities displayed by several small biotechnology companies in the country are playing an important role in attracting these companies. Biogen Idec, the world's oldest biotechnology company, set up a subsidiary in India in early 2007 with the aim of doing Research & Development and integrating India in its worldwide clinical development programmes. Other international companies such as Genzyme, Pall Life Sciences, Genentech, Agilent Technologies', Histogenetics have either started operations in India, or are panning to do so.
India's advantage in services sector is that drug discovery processes in the country could be carried out at a lower cost. Overseas companies face labor shortages as well as high-cost operations for their domestic drug discovery process and such works could be moved to India.
A recent report by RNCOS on "Asia Pacific Biotechnology Market (2007-2010)" also unveiled India's immense potential in the filed of Biotechnology. As per the report, India possesses a great potential to become one of the most significant players in biotechnology industry globally by 2010. It is poised to leverage its scientific skills and technical expertise to make a global impact from a strong innovation led platform.
The report also stated that India presents exciting opportunities for biotech companies in US and Europe to integrate their drug development programmes at lower cost and shorter time thereby having an advantage over trials conducted in the more expensive research environs of the west.
The research reports also addressed some other interesting issues and facts that are critical for the success in Asia-Pacific biotechnology market like trends in the Asia-Pacific biotechnology industry, an overview of bio-clusters in the industry, course of market growth for the next 5 years as well as issues confronted by the industry.
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