Industria
India In-Vitro Diagnostics Market: Driving Forces and Disruptive Trends [2029]
Industry Key Highlights
According to TechSci Research's report, "India In-Vitro Diagnostics Market - By Region, Competition, Forecast, and Opportunities, 2029", the India in-vitro diagnostics (IVD) market is poised for impressive growth over the forecast period. The increasing demand for point-of-care (POC) testing, driven by several factors, is a significant catalyst for this expansion. POC testing offers numerous advantages over traditional laboratory-based testing, including faster turnaround times, improved patient outcomes, and reduced healthcare costs. These benefits are particularly valuable in resource-limited settings, such as rural areas, where access to laboratory-based testing is often restricted.
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Emerging Trends
Digital Health and Connectivity
One of the major emerging trends in the India IVD market is the integration of digital health and connectivity. Digital health involves the use of technology to enhance healthcare delivery, while connectivity allows for the electronic sharing of information between different healthcare providers and patients. Telemedicine platforms, which enable remote consultations between patients and healthcare providers, are a prime example of this trend. These platforms are especially beneficial in rural areas, where healthcare access is limited, as they improve healthcare accessibility, reduce costs, and enhance patient outcomes.
Pandemic-Induced Innovations
The COVID-19 pandemic has accelerated the adoption of innovations such as remote collection and digital pathology. For instance, in October 2022, Proscia launched Concentriq Dx, an expanded digital platform for primary diagnostic workflows. Similarly, Roche introduced the VENTANA DP 600 slide scanner in June 2022, which offers excellent image quality for stained histology slides while providing workflow flexibility in pathology labs. These technological advancements are expected to significantly impact the IVD market by simplifying diagnostic procedures and improving efficiency.
Drivers of Market Growth
Increasing Burden of Chronic Diseases
The rising prevalence of chronic diseases such as cancer and diabetes is a key driver of the IVD market in India. According to the ICMR 2021 Report, the number of cancer patients in India is projected to increase from 26.7 million in 2021 to 29.8 million by 2025. Early detection of cancer through IVD is crucial for effective treatment, thereby driving the demand for these diagnostics. Similarly, the International Diabetes Federation (IDF) reported that approximately 74.1 million people in India had diabetes in 2022, with this number expected to rise to 92.9 million by 2030 and 124.8 million by 2045. The increasing diabetic population necessitates regular blood glucose monitoring, further boosting the demand for IVD.
Government Initiatives
The Indian government has recognized the potential of POC testing to improve healthcare outcomes and reduce costs. Initiatives under the National Health Mission (NHM) aim to promote POC testing in rural areas through the establishment of testing centers and deployment of mobile testing units. These efforts are expected to enhance the accessibility and affordability of diagnostic tests, thereby supporting market growth.
Challenges
Limited Access to Advanced Testing Facilities
A significant challenge faced by the IVD market in India is the limited access to advanced testing facilities. Advanced testing technologies require specialized equipment, trained personnel, and infrastructure, which are often unavailable in rural and remote areas. This lack of access can delay diagnosis and treatment, contributing to disparities in healthcare access and outcomes. Addressing this challenge requires substantial investment in healthcare infrastructure and resources, including the expansion of laboratories and testing centers, improved transportation logistics, and enhanced training for healthcare professionals.
Top 10 Companies in the India In-Vitro Diagnostics Market
- 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.
- Roche Diagnostics India Pvt. Ltd.
- Abbott Diagnostics India Pvt. Ltd.
- Thermo Fisher Scientific India Pvt. Ltd.
Competitive Analysis
The India IVD market is characterized by intense competition among major players striving to expand their market share through product innovation, strategic partnerships, and geographical expansion. Companies like Transasia Bio-Medicals and Meril Diagnostics have made significant strides in this regard. In 2021, Meril Diagnostics launched the MiraCle Dx SARS-CoV-2 RT-PCR Test, enhancing India's COVID-19 testing capacity. Transasia Bio-Medicals, in partnership with Erba Mannheim, aims to expand its product portfolio by manufacturing and distributing IVD products in India. Such collaborations and product launches are expected to intensify competition and drive market growth.
Future Outlook
The future of the India IVD market looks promising, with several factors contributing to its anticipated growth. The increasing prevalence of chronic diseases, coupled with technological advancements and supportive government initiatives, is expected to drive market expansion. Moreover, the ongoing integration of digital health and connectivity will likely revolutionize the market, improving diagnostic accuracy and patient outcomes.
10 Benefits of the Research Report
- Comprehensive Market Analysis: Provides a detailed overview of the India IVD market, including current trends, drivers, and challenges.
- Competitive Landscape: Offers insights into the strategies of key market players and their impact on the market.
- Market Forecasts: Includes projections for market growth and future opportunities up to 2029.
- Technological Advancements: Highlights the latest innovations in IVD technologies and their market implications.
- Government Initiatives: Examines the role of government policies and initiatives in shaping the market.
- Emerging Trends: Identifies and analyzes emerging trends such as digital health and connectivity.
- Regional Analysis: Provides a regional breakdown of market dynamics and growth opportunities.
- Investment Insights: Offers insights into potential investment opportunities and market segments.
- Strategic Recommendations: Includes actionable recommendations for market participants to enhance their market presence.
- Market Segmentation: Detailed segmentation by product type, technology, application, end user, and region.
The India in-vitro diagnostics market is on a growth trajectory, driven by increasing demand for point-of-care testing, rising prevalence of chronic diseases, and technological advancements. While challenges such as limited access to advanced testing facilities persist, government initiatives and strategic collaborations among key players are expected to address these issues and propel market growth. With the integration of digital health and connectivity, the future of the IVD market in India looks promising, offering numerous opportunities for innovation and expansion.
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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.
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