Low impetus on innovation in pharmaceuticals has decreased demand of bioinformatics tools used in drug R&D, slowing the industry growth, says RNCOS.Posted via Industry Today. Are you into it? Follow us on Twitter@IndustryToday
According to a new research report by RNCOS, "Indian Bioinformatics Market Forecast to 2015", despite accounting for a meager 2% in the biotech industry, the Indian bioinformatics market has become one of the most prominent segments in recent times. The market, which is likely to reach around US$ 140 Million by FY 2015, is boosted by factors, such as presence of skilled workforces, impressive infrastructure, among others. Moreover, the latest trends in the field that can further contribute to the future growth of the segment include translational bioinformatics, personalized medicine, and genomics.
However, our research has revealed that in India, low emphasis is given to the development of new drugs. The industry is more focused on generating revenue from manufacturing generic versions of off-patent drugs rather than spending on R&D and developing new ones. This is also evident in data of patent granted in the country, where the top firms which are granted patents are mostly MNCs. In such a scenario, little market exists for bioinformatics companies, who world over, generate a sizeable revenue by selling solutions to the R&D departments of big pharma firms. The Indian government and private players should focus to counter this aspect and try to stimulate the industry to increase its focus on innovation, which can further help to boost its revenue and image worldwide.
The report depicts a complete picture of Indian bioinformatics market, its current and future position in the biotech industry, and key drivers and restraints. It prudently evaluates the underlying opportunities for market participants by analyzing the advantages that India as a country offers in the biotech sector. Moreover, the report effectively elaborates restraints and features of the Indian bioinformatics market and a brief description of market players actively supporting the industry developments.
Overall, the report is an outcome of an extensive research and prudent analysis of the current status and expected position of the Indian bioinformatics market. Forecasting in key areas of the report makes use of proper methods and techniques that seek to facilitate the presentation of reliable projection. Overall, the report is meant to be a complete source of knowledge and analysis for clients interested in Indian bioinformatics market.
Some of our Related Reports are:
- Bioinformatics Market Outlook to 2015
- Global Bioinformatics Market Outlook
About RNCOS
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.
0 comments:
POST A COMMENT