With growth in requirement for food safety and developments in pharmaceuticals production,India’s laboratory and analysis equipment sector is expected to grow by up to 20 per cent to USD 1.5 billion in FY12,an industry body said.
“In India,the demand is increasing continuously for laboratory and analysis equipment since the food and pharmaceutical industry requires high quality equipment. The sector is growing at about 15-20 per cent and is expected to reach 1.5 billion in FY 12,” Indian Analytical Instruments Association President S Thyagarajan told reporters here.
In FY11,the Indian market stood at USD 1.3 billion,while the sector’s size at global level was around USD 41 billion.
Even though the sector is mainly dependent on imports,mainly from US and Japan,the total manufacturing at present is around USD 100 million,which is expected to touch USD 300 million by 2015,he added.
The industry is organising a three-day conference here from October 13,in which about 140 exhibitors from 15 countries will participate.
In manufacturing the sector is facing major challenges like dearth of skilled manpower and lack of Government support,Thyagarajan maintained.
“This is a niche industry where highly skilled talent is required. Unfortunately,there are no university or collages providing exclusive courses on instrumentation.”
Similarly,he said,R&D will grow if the Government academia,who has the know-how,and the industry collaborated.
At present,the sector is mainly dependent on collaborations with global companies,he said.