The United States ranks first in the number of biotech firms, PCT patent applications, and biomedical treatment approvals, with Spain coming second. The number of firms is one way to rank biotech by country, while expenditures in research and development are another. India has world-class strengths in chemical, biological and environmental sciences alongside a remarkable process engineering community.
- The organizations are concentrating on the enhancement of ingenious systems and their usage by partnering with members in the industry.g
- Significant associations, together with government subsidized foundations and different self-ruling communities talking towards the biotechnology funding elevate financing to assist R&D and brand-new product enhancement attempts.
- Rising incidence of persistent conditions such as diabetes and cancer globally are expected to increase the need for biotechnology products.
- Diabetes affected more than 420 million people globally and is expected to rise to more than 600 million by 2045.
The biotechnology sector is undergoing rapid change. Commonly known as ‘biotech’, the sector involves the use of living systems and organisms to develop technologies and products. Involving the utilisation of biomolecular and cellular processes, major applications include medicine, agriculture and industrial processes.
- In the molecular development market, emerging companies now account for more than 70% of the total pipeline.
- VC investment into biotech grew at an average annual rate of 26.1% in the five years to 2018, reaching a record $14.58bn across 750 deals.
- India stands among the top 12 biotech destinations in the world and ranks third in the Asia Pacific, with approximately 3% share in the global biotechnology industry.
- 100% FDI for biotechnology sector is allowed under the automatic route for green-field pharma.
Modern biotechnology focuses primarily on medicine. In this field, small start-ups, multinational pharmaceutical companies, and government research agencies develop new treatment options for rare and complex diseases, as well as genetic tests to better identify inherited diseases. Other fields of biotechnology include agriculture, alternative energy, and environmental science.
- Bharat Biotech and Thomas Jefferson partner on Covid-19 vaccine
- Roche enters $135m drug discovery deal with Vividion Therapeutics
- Gilead signs remdesivir licensing deals with five manufacturers