Improving people’s overall wellbeing is a key focus in both the Indian and Victorian health and life sciences sectors, and there are growing commercial opportunities in the beauty, wellness and personal care (BWPC) market.
Victoria is home to world-class biomedical facilities and companies including CSL, BioNTech, and Moderna and is a prime destination for clinical trials. Victoria's Health and Medical Research Strategy 2022-2032 emphasises the need to build connections and promote research globally.
India is recognised for its cost-effective health innovation and is a major producer of generic pharmaceuticals, vaccines, and consumable and disposable medical devices. It is an important supplier of these products to global markets, including to Victoria’s health sector.
Since 2018, the Victorian Government has supported Victorian BWPC companies through trade missions, including Cosmoprof India Mumbai 2023, and developed a strong relationship with key stakeholders.
What's the opportunity
India is emerging as one of the largest markets in the world for BWPC products, driven by increasing urbanisation, growing disposable incomes, participation of women in the workforce, and growth in e-commerce and social media marketing.
Victorian BWPC products are well regarded in India, with companies having success through e-commerce and physical retail outlets.
Opportunities in the health, and life sciences sector are primarily in relation to medical devices, digital health and startup activity.
Victoria’s reputation as a home to some of the best innovators, scientists, clinicians, and knowledge institutes in the world may lead to partnerships with Indian companies in the sector.
Case studies
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