According to a report by TechSci Research titled “India In-Vitro Diagnostics Market – By Region, Competition, Forecast, and Opportunities, 2029,” the India in-vitro diagnostics market is expected to experience significant growth during the forecast period. This growth can be attributed to the rise in point-of-care testing (POC), which offers numerous advantages over traditional laboratory-based testing. These advantages include faster turnaround times, improved patient outcomes, and reduced healthcare costs. POC testing is especially valuable in resource-limited settings, such as rural areas, where access to laboratory-based testing may be limited.
Several factors are driving the growing demand for POC testing in India. Firstly, the country’s large population necessitates rapid and accurate diagnostic tests to manage infectious diseases like tuberculosis and malaria. Secondly, India faces a significant burden of non-communicable diseases, such as diabetes and cardiovascular diseases, which require regular monitoring and management. POC testing provides a convenient and cost-effective way to monitor these conditions. The Indian government has recognized the potential of POC testing to enhance healthcare outcomes and reduce costs, leading to initiatives by the National Health Mission (NHM) to promote POC testing in rural areas. These initiatives include the establishment of POC testing centers and the deployment of mobile POC testing units.
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A major trend observed in the India in-vitro diagnostics market is the emergence of digital health and connectivity. Digital health involves using technology to improve healthcare delivery, while connectivity allows electronic information sharing between healthcare providers and patients. In India, digital health and connectivity are being utilized to develop telemedicine platforms, enabling patients to consult with healthcare providers remotely. This is particularly beneficial in rural areas with limited healthcare access, as it can improve access to healthcare, reduce costs, and enhance patient outcomes.
The market also faces a challenge due to limited access to advanced testing facilities. Advanced testing technologies and platforms often require specialized equipment, trained personnel, and infrastructure, which may not be readily available in all regions, especially rural and remote areas. This limitation can result in delays in diagnosis and treatment, and it contributes to disparities in healthcare access and outcomes. Addressing this challenge will require investment in healthcare infrastructure and resources to expand access to advanced testing facilities across the country. Collaboration between government agencies, healthcare providers, and industry stakeholders will be essential in developing and implementing strategies to achieve this goal.
The India in-vitro diagnostics market can be segmented by product type, technology, application, end user, and region. Based on technology, the market segments include immunoassay, hematology, clinical chemistry, molecular diagnostics, microbiology, and others. Molecular diagnostics, in particular, revolutionizes diagnostic testing by enabling rapid and accurate detection of various diseases, including infectious diseases, genetic disorders, and cancer. These tests involve analyzing biological markers or genetic material to diagnose diseases, detect genetic variations, and assess the risk of certain conditions.
In terms of end users, the India in-vitro diagnostics market includes hospitals & clinics, diagnostic centers & laboratories, and others. These centers and laboratories play a crucial role in performing diagnostic tests and providing accurate results to healthcare providers and patients. As the demand for diagnostic testing continues to rise, there is an increasing need for reliable and efficient diagnostic centers and laboratories, creating opportunities for companies in the India in-vitro diagnostics market to offer innovative and high-quality diagnostic testing products and services.
Major companies operating in the India in-vitro diagnostics market are:
- J Mitra & Co Pvt Ltd.
- Advatech Healthcare Pvt Ltd.
- Tulip Diagnostics PVT. Ltd.
- Transasia Bio-Medicals Ltd.
- BD India Pvt Ltd.
- Siemens Healthcare Pvt. Ltd.,
- Bio-Rad Laboratories India Pvt. Ltd
In 2021, Meril Diagnostics announced the launch of its MiraCle Dx SARS-CoV-2 RT-PCR Test, which is designed to detect the COVID-19 virus. This test is expected to help in increasing the testing capacity in India and improving the accuracy of COVID-19 testing.
In 2020, Transasia Bio-Medicals announced a partnership with IVD company Erba Mannheim to manufacture and distribute Erba Mannheim’s IVD products in India. This partnership is expected to help in expanding the product portfolio of both companies in India.
In 2020, Becton, Dickinson and Company (BD) India announced the launch of its BD Cor System, which is used for automated molecular testing in clinical laboratories. This system is expected to help in increasing the efficiency and accuracy of COVID-19 testing in India.
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“The India in-vitro diagnostics market is expected to grow during the forecast period due to the rising demand for preventive medicine with medical benefits along with growing preference for clinical chemistry across the region. The increasing demand for clinical chemistry testing is driven by the need for accurate, reliable, and timely diagnostic information to improve patient outcomes and reduce healthcare costs. Besides, increasing concern about healthy lifestyles and growing expenditure on health and wellness are further expected to create lucrative opportunities for the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India In-Vitro Diagnostics Market, By Product Type (Instruments, Reagents, and Software & Services), By Technology (Immunoassay, Hematology, Clinical Chemistry, Molecular Diagnostics, Microbiology, and Others), By Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, and Others), By End User (Hospitals & Clinics, Diagnostic Centers & Laboratories, and Others), and By Region, Competition, Forecast, and Opportunities, 2029”, has evaluated the future growth potential of the India in-vitro diagnostics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India in-vitro diagnostics market.
About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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