The ‘Make In India’ initiative can lead to multifold growth of the biosimilars and vaccines industries, a report by Kearney, prepared in collaboration with CII, earlier said.
In this episode of The Medicine Box season 5, CNBC-TV18’s Ekta Batra gets in conversation with Saumya Krishna, Partner, Kearney, to discuss the report and the outlook going forward for the vaccines and biologics industries.
According to Krishna, the vaccines industry will have many new opportunities arising from disruptions caused by the COVID-19 pandemic. Indian vaccine industry can grow from $2 billion to over $4 billion or even $5 billion by 2026, the Kearney report says.
Krishna also talked about the biosimilars industry, which according to Kearney is expected to be a $36 billion opportunity by 2025. The industry, which is growing at a compound annual growth rate (CAGR) of 24 percent, can be the next frontier of Indian life sciences after generics, Krishna said.
Watch the accompanying video for the full conversation