India’s life sciences sector poised for transformational growth: Vishal Goel

As we wrap up 2024, India’s life sciences sector is demonstrating unparalleled growth, driven by strategic infrastructure development, government policy support, and a cost-effective talent pool. This year alone, we witnessed the demand for healthcare infrastructure skyrocket, with estimates indicating a need for an additional 1.3 billion square feet of healthcare space by 2030 and 2.9 million hospital beds to meet global standards. Major life sciences hubs in Bengaluru, Hyderabad, and Mumbai have supported a growing ecosystem of pharmaceutical, biotech, MedTech, and contract research organizations (CROs), positioning India as a leading destination for life sciences innovation.

Looking to 2025, India’s life sciences market is set for multi-fold growth, supported by policy interventions such as the PLI scheme, over $1.3 billion allocated for bulk drugs and medical devices, and proposals for dedicated bulk drug and medical device parks. These initiatives, combined with foreign direct investment and India’s significant number of US FDA-certified plants (ranking second globally), are supporting industry expansion. 

Aligned with the vision for ‘Viksit Bharat 2047,’ India’s life sciences and pharmaceutical sectors look forward to continued investment in public health, increased R&D incentives, and measures to streamline regulatory processes. Upcoming policies are anticipated to improve manufacturing competitiveness, expand accessibility, and integrate sustainable practices. By balancing innovation with ecological responsibility, India pursues accessible, high-quality healthcare while strengthening its global life sciences and biotechnology leadership.

References:

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2. https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2010924
3. https://blogs.sas.com/content/sascom/2024/10/15/the-2025-reality-for-health-and-life-sciences/
4. https://www.cbre.co.in/services/property-types/life-sciences
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6. https://rxpropellant.com/solutions/
7. https://ciiblog.in/cii-6th-pharma-and-life-sciences-summit-2024/