Supporting innovation in 2021

COVID-19 is likely to impact India’s economy across all industries and business formats. Nevertheless, the biosuppliers sector is gearing up to adopt the new normal and is all set to launch new products in next 12 months in 2021. The upcoming products are spread across a wide range of applications for the life sciences industry such as cell imaging, sample analysis, nanotechnology, gene sequencing, microbiology research, microencapsulation and much more.

There are more than 100 companies involved in the biosuppliers sector in India including a large number of global players dealing with analytical instruments, lab consumables, reagents, kits and chemicals. The principal companies are dominating the space supported by hundreds of distributors and channel partners spread across the country. Besides there are hundreds of small and medium size companies, who have been in the biosuppliers business in India catering to the different requirements in the public and private sector.

Growing at a rate of 6-7 per cent annually, the biosuppliers market is currently one of the many getting affected due to the current crisis. The impact of the COVID-19 pandemic has not only brought the global economy to a standstill but set the clock backwards on the developmental progress of several nations.