Nutraceuticals is the fastest-growing segment of the biopharmaceutical industry in India

As a biopharma company, we realise that the most critical aspect is to provide wellresearched and developed products, which are cost-effective and can be accessed by all, informs Gaurav Kaushik, Managing Director and CEO, Meteoric Biopharmaceuticals, to Akanki Sharma

Give details about the ongoing trends in biopharma industry. In what ways is your company contributing to this industry?

The biopharma industry is witnessing a positive trend in terms of growth, acceptance and innovation. Looking at the numbers, the global biopharmaceuticals market was valued at $237,250.8 million in 2018 and is estimated to be valued at $388,997.3 million in 2024, witnessing a CAGR of 8.59 per cent. A large contributor to this growth is the economic and sustainable ability of the industry to discover and produce innovative treatments as well as biological solutions.

Another major contributor is the growing acceptance of enzymes, enzymatic preparations, pre and probiotics, nutraceuticals and botanicals, which have expanded the market size of the overall industry. As a biopharma company, we realise that the most critical aspect is to provide well researched and developed products, which are cost-effective and can be accessed by all. At Meteoric, we are working on next-generation products across all product lines -- be it enzymes, probiotics, nutraceuticals and botanicals.

Our aim is to attract major Contract Research Organisation (CRO) business across the world by providing highly-researched and well-developed products, systemized processes and cost-efficiency.

Which are the markets wherein probiotics, nutraceuticals and enzymes are growing exponentially? Share some examples and statistics to support your answer.