Top 10 Biotechnology Companies in India in 2023
The biotech industry in India is expected to grow at a compound annual growth rate (CAGR) of 22.5% between 2020 and 2025, according to a report by MarketsandMarkets. The same report states that the Indian biotech industry was valued at $11.6 billion in 2019 and is projected to reach $26.7 billion by 2025.
These are the top 10 biotech companies in India :
- Biocon
- Glenmark Pharmaceuticals
- Lupin
- Sun Pharmaceutical Industries
- Cadila Healthcare
- Dr Reddy’s Laboratories
- Cipla
- Aurobindo Pharma
- Piramal Enterprises
- Wockhardt
1. Biocon –
Biocon is an Indian publicly-traded biopharmaceutical company with headquarters in Bengaluru, Karnataka, India. The company ranks first in terms of expected market share in 2022 with a projected 14% of the total Indian biotech market share. Biocon was founded in 1978 by Kiran Mazumdar-Shaw and today employs over 10,000 people across India, Europe, and the United States.
Biocon’s revenues were $637 million in 2017 and are expected to grow to $2.28 billion by 2022. The company has three main products: Insulin, Biologics, and Biopharmaceuticals. Biocon has been at the forefront of several breakthroughs in the Biotech industry such as the development of the world’s first biosimilar insulin and the launch of India’s first indigenously developed cancer biologic
2. Glenmark Pharmaceuticals –
Glenmark Pharmaceuticals is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra, India. The company ranks second with an expected 12% of the total Indian biotech market share in 2022. Glenmark was founded as a generic drug company in 1977 by Gracias Saldanha and today has products marketed in over 50 countries including the United States, Europe, Russia, CIS countries, South Africa, Latin America, and Asia Pacific Rim nations among others.
3. Lupin –
Lupin is an Indian multinational pharmaceutical company based in Mumbai, Maharashtra, India with offices and manufacturing facilities across several countries including Japan and the United States among others. The company ranks third with an expected 11% of the total Indian biotech market share. Lupin was founded in 1968 by Desh Bandhu Gupta and today employs over 33,000 people worldwide.
4. Sun Pharmaceutical Industries –
Sun Pharmaceutical Industries is an Indian multinational pharmaceutical company headquartered in Mumbai with over 150 manufacturing facilities across several countries including the United States. The company ranks fourth with an expected 9% of the total Indian biotech market share. Sun Pharma was founded in 1983 by Dilip Shanghvi and today employs over 30,000 people worldwide.
5. Cadila Healthcare –
Cadila Healthcare is an Indian multinational pharmaceutical company headquartered in Ahmedabad, Gujarat. The company ranks fifth with an expected 8% of the total Indian biotech market share. Cadila Healthcare was founded in 1952 by Ramanbhai Patel and today employs over 22,000 people across 5 continents.
6. Dr Reddy’s Laboratories –
Dr Reddy’s Laboratories is an Indian multinational pharmaceutical company based in Hyderabad Telangana. The company ranks sixth with an expected 7% of the total Indian biotech market share. Dr Reddy’s Labs was founded in 1984 by Anji Rao and today employs over 11000 people globally including North America Europe Russia CIS South Africa Latin America Asia Pacific Rim nations among others.
7. Cipla –
Cipla is an Indian multinational pharmaceutical company based in Mumbai Maharashtra India its products are marketed and sold in over 190 countries around the world including US, Canada, Europe, South Africa, Latin America, Caribbean West Indies, Russia, CIS Middle East Africa, Australia, New Zealand, South East Asia, Far East Asia, Oceania. The company ranks seventh with an expected 6 per cent of the total Indian biotech market share Cipla was founded in 1935 by Khwaja Abdul Hamied as Chemical Industrial & Pharmaceutical Laboratories currently run by his son Yusuf Hamied.
8. Aurobindo Pharma –
Aurobindo Pharma is an Indian multinational pharmaceutical company headquartered in Hyderabad Telangana India it has units of 148 active pharma ingredients finished dosage formulations plants spread over 8 locations. The company ranks eighth with an expected 5 per cent of the total Indian biotech market share Aurobindo Pharma was founded in 1986 by P V Ramprasad Reddy K Nityananda Reddy GS Kumar.
9. Piramal Enterprises –
Piramal Enterprises is an Indian conglomerate holding company headquartered in Mumbai Maharashtra India it has business interests in Financial Services and Healthcare Information Management Shoppers Stop. The Company ranks ninth with an expected 4 per cent of the total Indian biotech Market Share Piramal Enterprises was Founded in 1985 by Ajay Piramal currently run by his son Anand Piramal.
10. Wockhardt –
Wockhardt is an Indian global pharmaceutical biosimilars Biotechnology Company headquartered in Mumbai Maharashtra, India. It operates 68 marketing companies and 74 manufacturing plants spread across 21 countries around the world. The Company ranks tenth With an Expected 3 percent Of the Total Indian Biotech Market Share. Wockhardt Was Founded in 1937 by Habil F Khorakiwala and is currently run by his son Murtaza F Khorakiwala.
Also Read:Â Top 10 Aerospace Companies in India 2022
Conclusion:
These are the top 10 biotech companies that are expected to have a significant market share within the industry by 2023 according to various reports and analytics firms’ projections. As you can see several of these companies are already well-established multibillion-dollar enterprises while others are relatively new but have been growing rapidly nonetheless. All these companies have strong product portfolios innovative research & development teams state-of-the-art manufacturing facilities global footprints. These factors put them in good stead to achieve their projected Market Shares And further consolidate their positions as leading players Biotech sector In the coming years.
