The Indian BioEconomy for 2021 (January- December 2021) is estimated at $80.12 billion. The BioEconomy registered 14% growth over 2020.

BioPharma still accounts for the largest share of the BioEconomy. BioPharma accounted for 49 percent share of the BioEconomy. The total economic contribution of this segment was estimated at $39.4 billion. Diagnostics accounted for 52.8% share of the total BioPharma Market, while Therapeutics segment stood at 26%. The vaccines segment excluding Covid Vaccines accounted for the rest. Indian in- vitro diagnostics market is one of the leading segments in the Diagnostics segment.

Source: Biotechnology Industry Research Assistance Council