Indian CRISPR in agriculture market is expected to grow at a significant CAGR of 22.5% during the forecast period. India has the huge population, and some limitations in terms of availability of human resources, land and water for sustained agriculture for long-term security. Therefore, to overcome these limitations, the availability of such advanced and innovative technologies is necessary as they assist in achieving a productive and sustainable agriculture system. Thus, India has one of the promising markets for the growths of CRISPR in the agriculture market.
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Further, the growth of the market in the region is also attributed to the rising investments in biotechnology. According to the National Investment Promotion and Facilitation Agency, India is among the top 3rd largest biotech destination in the Asia-Pacific and shares approximately 3% share in the global biotechnology industry. India is amongst those countries that have the highest numbers of the US FDA approved manufacturing plants and is home to approximately 523 USFDA approved drug-manufacturing facilities. Also, according to National Investment Promotion and Facilitation Agency, the Indian biotechnology industry accounts for $51 billion in 2018, in which the bio-agriculture sector holds 22% share and is expected to increase in the near future, which in turn directly affects the CRISPR in agriculture market in the country. Thus, India is one of the leading destinations for contract research, clinical trials, and manufacturing activities that leads to an increase the CRISPR in the agriculture market.
Moreover, several initiatives by the key players as well as government concerning the growth of the country are also attributed to the growth of the market, as agriculture employed more than 50% of the Indian population and contributes approximately 17-18% to the nation’s GDP as of 2018. For instance, in August 2015, Tano India Pvt. Mauritius invested $7.4 million in Windlas Biotech Ltd. and in July 2016, Helix investment Holdings Pte. Ltd. Singapore invested $12 million in Concord Biotech Ltd. Thus, such heavy investments lead to the rise in the biotechnology industry in the country, which in turn positively affects the CRISPR in the agriculture market.
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India CRISPR in Agriculture Market Segmentation
By End-User
- Academic & Research Institutes
- Biotech Companies
By Target Type
- Crops
- Livestock
- Aquaculture Driving and Sports
Company Profiles
- Bayer AG
- BASF SE
- Caribou Biosciences, Inc.
- Cibus Ltd.
- DowDupont Inc.
- E. I. du Pont de Nemours and Company
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