The industry defers conventional pharmaceuticals in the use of natural materials for the composition of drugs, FMCG, and household utilities. The drugs are manufactured in a living ecosystem comprising microorganisms, plants, and even cells.
Laborious research and innovation are the key factors in reaching the pinnacle that spells success. Since new discoveries of drugs (biopharmaceuticals) and products fuel the demand leading to growth and gains. Nevertheless, the industry being in a nascent stage the market is volatile at times discouraging investors and stakeholders. The products are expensive and hence invite regulatory pricing at times from the governing bodies bent upon providing cheap medical care to their citizens.
Laborious research and innovation are the key factors in reaching the pinnacle that spells success. Since new discoveries of drugs (biopharmaceuticals) and products fuel the demand leading to growth and gains. Nevertheless, the industry being in a nascent stage the market is volatile at times discouraging investors and stakeholders. The products are expensive and hence invite regulatory pricing at times from the governing bodies bent upon providing cheap medical care to their citizens.
In order to reach the market the products must pass strict regulatory mechanisms comprising tests and trials. Many drugs find it difficult to pass through the clinical trial stage costing the concerns a hefty amount.
In India, the industry has picked up the pace and experiencing high YoY growth. India has a high number USFDA approved plants. The acronym stands for US Food & Drug Administration a body that regulates edibles and drugs among others.
India is emerging as the top base in the clinical trial and research segment. The country has an advantage in necessary skills, infrastructure, cost-effectiveness, and a developed R&D base. Though it has a marginal share in the contemporary global biotech industry the projected growth is promising.
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