New Delhi, May 24 -- Bernstein has initiated coverage on the India Healthcare sector with a positive view, calling it an "Innovation Power Decade" and projecting the country's biopharma industry to grow 4X to $195 billion over the next decade, driven by niche therapies and complex specialities.

A Bernstein report said that the brokerage sees six innovation "rainmakers" adding $70-75 billion to industry size. These include 505(B)(2) NDAs, orphan indications, drug-device combinations, drug repurposing in niche therapies, metabolic peptides, and RNA and cellular therapies such as CAR-T.

"We believe incremental innovation in six niches will produce Rainmakers for Indian biopharma," the report said.

Bernstein has initiated its coverage on s...