There has been tremendous growth in the life sciences industry of Hyderabad during the course of the past few years. This is predominantly attributable to the excellent infrastructure that is there in the region as well as the presence of a skilled workforce. Here, easy accessibility to the concerned resources is a pivotal aspect, too. This write-up is going to succinctly speak about the important points related to the growth of the Hyderabad life sciences sector.
- Worldwide, the city of Hyderabad is recognized as among the most preferred destinations to set up offices/plants by major entities in the life sciences sector.
- The Genome Valley of Hyderabad has gained recognition as the hub of the global industry of life sciences. Because of the top-class facilities available at this location, numerous life sciences companies have opened their plants/units in Genome Valley. The valley has several laboratories, knowledge parks, testing facilities, and incubation facilities, to name a few.
- It has been observed that, worldwide, well over 30% of the vaccines for children are manufactured in facilities that are operating in Genome Valley. Many companies of global renown, such as Sandoz, Novartis, Ferring, Londa, and GSK have their units in this place.
- The value of the city’s sector of life sciences is in the region of US$ 50 billion. Phenomenal growth is being predicted for this sector of Hyderabad for the next five years. The above value is projected to register a two-fold increase. The same rate of growth is also expected for the number of people employed in this industry.
- Many leading players in the global life sciences industry have made important announcements in the recent past. This is about their plans to make big investments in Hyderabad’s life sciences sector.
- More than 200 companies have already invested approximately Rs. 6000 crores in Hyderabad’s life sciences industry. That has created jobs for around 33,000 people in the preceding twelve months.
- A major development was the opening of the Medical Devices Park in the city towards the end of the year 2021. The park is greatly contributing to the development of the life sciences sector. Almost 50 companies have commenced operations by establishing their research & development and manufacturing units in this park.
- The government of Telangana has brought out many initiatives to further boost the development of the life sciences sector. Permission to work 24/7 has been given to all life science companies having their facilities in the state. And, a major chunk of these facilities are in Hyderabad. Here, the only condition is that they have to adhere to all regulations pertaining to aspects like worker safety and the maximum duration of each shift.
Similarly, the government has formed guidance cells to help companies make sure that there are no non-compliance issues.
- Another noteworthy point is worthy of special mention. Hyderabad is home to about fifty scientific institutions that have been in existence for a fairly long time. Newly established life sciences companies/units have the choice of seeking the advice and guidance of the vastly experienced professionals serving in these institutions. This key aspect has also played its part in the significant development of Hyderabad’s life sciences industry.
Apart from what has been described above, there are many more details pertinent to the city’s life sciences sector. All those couldn’t be included here due to a paucity of space.