Piramal Pharma Solutions retains No 1 position in Indian BioServices Industry Survey 2022

11 April 2023 | Features

Revenues considered for the analysis are of services part of the companies in FY 21-22

Mumbai-based Piramal Pharma Solutions is leading the BioServices Industry with sales revenue of Rs 3960 crore in 2021-22 registering a growth of 10 per cent over last year’s sales of Rs 3616 crore at No 1 position followed by Noida-based Jubilant Pharmova Limited with sales of Rs 3673 crore (Rs 3709 crore) at No 2 and Bangalore-based Syngene International Ltd with revenue worth Rs 2604 crore (Rs 2184 crore) at No 3 position respectively.


* Piramal Pharma Solutions is a leading CDMO in India

*Syngene International Ltd is a leading CRMO in India

*IQVIA RDS (India) Private Limited is a leading MNC CLRO in India

*Anthem Biosciences Private Limited is a leading CRISP company in India

*Aurigene Pharmaceutical Services Limited is leading DDDS company in India

* Labcorp Drug Development India Private Limited is a leading MNC CRO in India

*Neuland Laboratories Limited is a leading CMS company in India

*Vimta Labs Ltd isa leading Indian CLRO in India

* Aragen Life Sciences Pvt. Ltd is a leading Indian CRDO in India

*Aizant Drug Research Solutions Private Limited is a leading Indian CRO in India

*Aurigene Oncology Limited (formerly, Aurigene Discovery Technologies Limited) is a leading Indian DDO in India

*Shilpa Medicare Limited is a leading CRAMS in India


We have not covered some of the leading BioServices Companies as they were unable to participate in the BioSpectrum BioServices Industry Survey 2022


CLRO - Clinical Research Organisation       

CRO - Contract Research Organisation   

CDMO - Contract Development & Manufacturing Organisation

CMS - Contract Manufacturing Services

CRISP- Contract Research and Innovation Service Provider

CRMO -Contract Research & Manufacturing Organisation

CRDO- Contract Research & Development Organisation

DDDS- Drug Contract Research Discovery & Development Services

DDO-  Drug Discovery Organisation

CRAMS - Contract Research & Manufacturing Services 




BioSpectrum India is a leading B2B media platform in Lifesciences space since 2003. It has re-launched its ranking special edition in June 2019 after a gap of two years.  In this survey we looked at BioServices Industry specialising in Clinical Research Organisation (CLRO), Drug Discovery & Development Services (DDDS), Contract Research Organisations (CROs); Contract Research & Development Organisations (CRDOs), Contract Development & Manufacturing Organisations (CDMOs), Contract Manufacturing services (CMS), Contract Research and Innovation Service Provider (CRISP) that support biotech and pharma sector from discovery through commercialisation. We highlighted the companies based on their achievements in the past financial years.

A detailed questionnaire (survey form) was sent to over 100 companies (both MNC and Indian players) in this space to capture the needed information for the analysis. This was done during January – March 2023. Companies shared information with us to the extent it was possible by them. We have collected information about listed companies from stock exchange and financial agencies and Ministry of Corporate Affairs (MCA) as well.

The revenues considered for the analysis are of services part of the companies as noted above. In several cases, where revenue figures were not available, estimates were arrived in discussion with industry experts.

For all the ranking purposes, we have taken the bioservice business only into consideration. Wherever Revenue is mentioned, it means, sales turnover from bioservices. Therefore, revenue wherever mentioned is not necessarily the total sales turnover of the company.


Click here for the survey results of Industrial Biotechnology (Enzymes) Industry for FY 21-22


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