After the success of Information Technology in India, Biotechnology is rapidly emerging as the next successful technology in India. The Mckinsey reports quotes that by 2020 only two main biotechnology companies will comprise a market capitaliztion which will be equal to all the collective market capital of all the present Information Technology companies. Today Biotechnology is rapidly growing all the world including India where Bio-Industry Executives, Scientists, Capitalists are coming together and put ideas that will eventually triple the market of bio-products. The Information Technology is also lending its hand and supporting the BioTechnology in its development in the field of transgenic crops, plant genomes, crop protection, food security, induced resistance to plant diseases. With this view a number of Biotechnology Researchers are on the way of becoming Companies dealing with bio-products and this is true in the case of India also where a number of Research Companies have already started marketing its products and outsourcing its R&D to other Researchers. This trend is expected to grow at the rate of 30% every year for the next 5-6 years. Major Global Researchers are also following this trend and outsourcing its R&D those areas which have a lower cost capabilities in the field of biotechnology. India has become a major point for outsourcing of R&D of the Biotechnology Industry by the Major Global Researchers.
CROs can be compared with software development in the IT sector in terms of the formers activity and they have a potential to function as export oriented units. Bio-informatics can prosper relatively easily through the development of software to handle biological data. Biotechnology is the most updated division of science, which is believed to have immense potential in agriculture and environment. In their market research report, “Indian Biotechnology Market Outlook (2006)” RNCOS’ analysts reveal that the present biotech workforce employed in India is 10,000 and this is expected to double in 2006. Of this total workforce 50% will be in research, 35%in the technical and services sector, and 15% in management. The report gives a clear picture of the future Indian biotech market, the initiatives and policies of central and state governments covering all segments of the market. Having made an intensive SWOT analysis the report analyzes the sector in terms of size, demand, and foreign and domestic markets for 2005 while making forecasts till 2010. Finally the report lists company profiles of 20 major companies in the biotech industry including Shantha Biotechnics, Biocon, Bharat Biotech, Wockhardt, Serum Institute of India, Zydus Cadila, and Aventis Pharma.
Thus from the above study it can be assumed that in the next five years there would be a tremendous improvement of Biotechnology in India and consequently leading to a huge demand of qualified personnel in this field.
0 comments:
Post a Comment
Like this Blog?