Vaccines to Provide a Major Cash Injection for Indian Biopharmaceuticals
Concerns regarding the emergence of bioterrorism and Severe Acute Respiratory Syndrome (SARS), in addition to the search for cancer vaccines, represent drivers that will see India’s vaccine production sector expand dramatically in the coming years, predicts the new report from pharmaceutical industry experts GBI Research.
India’s vaccines market, states the latest research*, is forecast to climb from a 2011 value of $350m to $871m by just 2016, exhibiting an extremely healthy compound annual growth rate (CAGR) of 20%.
The second most populous country in the world has emerged as a major vaccine producer in recent years, focusing efforts on geographical regions where vaccines are not funded by the UN or charitable organizations. As a result, exports constituted 65% of the Indian vaccines market last year.
The global vaccines market expanded significantly during 2005-2011, with major pharmaceutical players such as GlaxoSmithKline, Sanofi, Merck and Pfizer posting notable profits and the US recording the largest share in the world.
However, GBI Research anticipates a sizeable shift in the industry landscape, as the most promising future growth opportunities for the production and sale of vaccines come from emerging economies such as India and China.
In January 2008 the Indian government cancelled the licenses of three vaccine-producing units – the Central Research Institute, the Bacillus Calmette-Guérin Vaccine Laboratory and the Pasteur Institute of India – on account of non-compliance with Good Manufacturing Practices (GMP).
But in April 2011, India’s Ministry of Health and Family Welfare (MOHFW) launched a National Vaccine Policy (NVP), stressing the future significance of the vaccine industry. Following suggestions from the NVP, the government approved plans in June of this year to revive these cancelled units.
This report provides an analysis of biopharmaceuticals approved in 2010 and 2011, operating dynamics in the biopharmaceutical industry, the current scenario in biopharmaceutical manufacturing, key stakeholders, the current market size (2011) of biopharmaceuticals, and forecasts to 2016 for India, China, South Korea and the global market
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.
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Publisher: GBI Research
Reference code: GBIHC255MR
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