Biotechnology industry is expected to reach $150bn by 2025
Indian pharmaceutical industry is expected to reach US$120-$130 billion by 2030 as the growth would be primarily driven by the sector’s rising investments in production and research & development.
The industry was valued at US$42 billion in 2021, according to ResearchAndMarkets’ report, the “India Modular Cleanroom Market | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 Impact”.
The India Modular Cleanroom market size is projected to grow at a CAGR of 6.4% during 2022-2028E, the report said in a release on 10 May 2023.
Additionally, increasing investment in research and development by Indian pharmaceutical companies and increasing hospital projects in tier II and tier III cities would increase demand for modular clean rooms in the coming years.
The India Modular Cleanroom Market growth is expected be strong over the coming years on account of growing pharmaceutical and biotechnology sectors, which rely heavily on modular cleanrooms to control contamination.
In 2020, the Indian biotechnology industry was valued at around US$70 billion, and it is expected to grow further by US$80 billion by 2025, reaching the US$150 billion mark.
Furthermore, growing foreign direct investment in the Indian pharmaceutical and drug sector, which saw a growth of 53% in 2021-2022, would further increase the demand for modular cleanrooms in the Indian market.
Leading industries in the market are:
Integrated Cleanroom Technologies Private Limited
GMP Technical Solutions Pvt Ltd
Ahlada Engineers Ltd
Kaizen Airtech Solutions
Lennox Clean Room Technologies
Hectra Clean Air Technologies Private Limited
BIOBASE Group
Bionics Scientific Technologies Pvt Ltd. fiinews.com
