Epygen Biotech To Produce Recombinant Streptokinase (Rsk) For The Cardiovascular Segment

Debayan Ghosh – President and Founder, Epygen Biotech shares insights on the current opportunities and challenges in the biosimilar industry and speaks about Epygen Biotech's offerings for the industry, in an interaction with Swati Rana

- Swati Rana

How do you see the growth of biosimilar market in India? What are the growth drivers?

Taking the past few years in to consideration, the Indian market has doubled in size in the biosimilar space. The biosimilar market has grown by 30 per cent due to rise in domestic business, exports, mergers and acquisitions and new product innovations. Over the past five years, this industry has steadily grown by a 30 to 50 per cent and this sector at present employs more than 30,000 biotech scientists, who continue to drive growth. The current scenario is that the Indian market accounts over 1.1 per cent of the global biotech market. However, its rapidly growing capability is likely to position India as a leading player in the years to come, posing a triple digit growth in the next decade. India ranks third in the Asia- Pacific region, after Japan and Korea and among the top 12 globally. There is constant monitoring done by the Central Drugs Standard Control Organization (CDSCO) and the Department of Biotechnology to improve the biosimilar drugs policy and regulatory pathway, for manufacturing processes that aims to deliver safety, efficacy and quality of international standards. This policy is expected to catapult the Indian biosimilar market size to the vicinity of $50 billion by 2030!

As India’s biosimilar market is expected to increase from $186 million in 2016 to $1.1 billion in 2020. How are you planning to utilise the opportunity?