NEW DELHI : The Bio-Pharmaceutical sector in India is facing various challenges, however the increased government focus and support is sure to go a long way in converting them to opportunities, says Gaurav Kaushik , Managing Director and CEO of Ahmedabad based Meteoric Biopharmaceuticals.
Mr Kaushik, who has 100 products in Enzymes and Enzymatic Preparations, Probiotics, Nutraceuticals and Animal Healthcare, said, "One of the major challenges is the lack of coverage of advanced enzymes, their knowledge and applications comprehensively in academics, particularly in the case of Pharmaceutical Application Enzymes."
He stated that another major challenge is inadequate R&D based innovation. There is enough scope and suitability of replacing synthetic and harmful chemicals and traditional practices with enzymes but it is presumed that the use and application of enzymes is complex and expensive, which is a myth.
Enzymes growth trend has never declined in India or worldwide, not just in pharmaceuticals but also in the industrial segment. It is expected to be a USD 19.09 Billion sector by 2025 with an 8.9% growth in CAGR, Mr Kaushik claimed.
"The trends are positive and we believe will continue to remain progressive. Though enzymes are linked with our daily life, when we think about their applications, lack of adequate knowledge compells us to adopt synthetic chemicals which have been a practice traditionally," he stated
Mr Kaushik believes there is tremendous scope for Nutraceuticals and Botanicals that will be seen in the coming years.
Mr Kaushik informed DTMT, “Meteoric Biopharmaceuticals will be launching products for Oral care and Vaginal care in the probiotics segment. Some other major products are in the cosmoceutical category specially catering to anti-aging and anti acne issues among women and girls."
The company continues working for product customization and concept formulation for human as well as animal healthcare markets, Mr Kaushik said.