India Molecular Diagnostics Market to Grow with a CAGR of 8.15% through 2029
Increasing demand for point-of-care diagnostics and
rapid technological advancements is expected to drive the India Molecular
Diagnostics Market growth in the forecast period, 2025-2029.
According to
TechSci Research report, “India Molecular Diagnostics Market -Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2029”, the India
Molecular Diagnostics Market stood at USD 920.05 Million in 2023 and is anticipated to grow with a CAGR of 8.15%
in the forecast period, 2025-2029. Several factors are driving the growth of
the Molecular Diagnostics Market in India. The increasing prevalence of
infectious diseases and genetic disorders, rising awareness and acceptance of
personalized medicine and companion diagnostics, and advancements in molecular
techniques are some primary factors.
Additionally,
improvements in healthcare infrastructure, coupled with increased healthcare
expenditure and growing demand for early and accurate disease diagnosis, are
also stimulating market growth. Lastly, government initiatives for the
promotion of precision medicine and genetic testing is a crucial contributing
factor.
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The Indian Molecular
Diagnostics Market is experiencing rapid growth, surpassing the global average
compound annual growth rate (CAGR). This growth can be attributed to a
combination of factors, including but not limited to, the rising prevalence of
infectious diseases, increased awareness of personalized medicine, and
significant advancements in molecular techniques. In the market, several key
segments are driving this growth. The infectious diseases segment holds a
dominant position due to the high prevalence of infectious diseases in India,
necessitating rapid and accurate diagnosis. However, the oncology segment is
expected to exhibit substantial growth in the coming years. This growth can be
attributed to the increasing incidence of cancer and the growing demand for
early detection and treatment options. A critical driver for the market's
growth is the increasing adoption of advanced molecular diagnostic techniques.
Next-generation sequencing and polymerase chain reaction (PCR) techniques have
revolutionized the field, offering faster and more accurate diagnostic
capabilities. Furthermore, the introduction of point-of-care diagnostics has
made molecular diagnostic tests more accessible, leading to further market
expansion.
Investments in
healthcare infrastructure and research also play a significant role in driving
market growth. The Indian government's increased focus on improving healthcare
facilities, coupled with private sector investments in research and
development, has created a conducive environment for market expansion.
Despite the
positive outlook, the market does face challenges. The high cost of molecular
diagnostic tests remains a barrier to widespread adoption, and the lack of
trained professionals poses a challenge as well. However, efforts are underway
to address these issues. Initiatives aimed at training healthcare professionals
and making molecular diagnostic tests more affordable are being implemented to
overcome these hurdles. The Indian Molecular Diagnostics Market is poised for significant
growth, driven by the rising incidence of diseases, advancements in molecular
diagnostic techniques, and increased investment in healthcare. While challenges
persist, the future holds promising opportunities for expansion and innovation
in this dynamic market.
The India Molecular
Diagnostics Market is segmented into application, technology, end user, regional
distribution, and company.
Based on end
user, the domination of hospitals in the end-user segment of India's Molecular
Diagnostics Market can be attributed to several factors. First and foremost,
hospitals in India serve as the primary healthcare providers and are often the
initial point of contact for individuals seeking medical assistance. With their
comprehensive range of medical services, hospitals encounter a diverse array of
diseases, necessitating the use of molecular diagnostics to accurately diagnose
and treat patients.
Moreover, large
hospitals possess the financial resources and infrastructure to invest in
state-of-the-art diagnostic technologies. This enables them to stay at the
forefront of medical advancements and enhance their capabilities in the field
of molecular diagnostics. By leveraging these cutting-edge technologies,
hospitals can offer accurate and timely diagnostic results, driving better
patient outcomes. Furthermore, the increased prevalence of infectious diseases
and the ongoing pandemic have further underscored the importance of rapid and
accurate diagnostic tests within hospital settings. The ability of hospitals to
swiftly detect and diagnose infectious diseases is crucial in effectively
managing and containing outbreaks while ensuring the safety and well-being of
patients and healthcare workers. Considering these factors, it becomes evident
why hospitals continue to dominate the end-user segment of India's Molecular
Diagnostics Market. Their role as primary healthcare providers, coupled with
their investment in advanced diagnostic technologies and their contribution to
managing infectious diseases, solidifies their position as key players in this
rapidly evolving field.
Based on region,
the Western region of India has emerged as the dominant force in the Molecular
Diagnostics Market, owing to a multitude of factors. Firstly, this region is
home to major metropolises like Mumbai and Pune, which house world-class
medical facilities and renowned research institutes. These institutions play a
pivotal role in advancing the field of molecular diagnostics, contributing to
groundbreaking discoveries and innovations.
Moreover, the
region's robust economic status has propelled investments in the healthcare
sector, driving the rapid adoption of cutting-edge diagnostic technologies.
This infusion of resources has enabled medical professionals and researchers to
push the boundaries of molecular diagnostics, leading to enhanced accuracy,
efficiency, and patient care. Another crucial factor that contributes to the
Western region's dominance in the market is the high prevalence of lifestyle
diseases. With sedentary lifestyles becoming increasingly common, there is a
growing demand for molecular diagnostic techniques to effectively diagnose and
manage these conditions. This demand has further stimulated the growth of the
market, as healthcare providers strive to offer comprehensive and tailored
solutions to address the region's healthcare challenges. The Western region of
India stands at the forefront of the Molecular Diagnostics Market, leveraging
its top-tier medical facilities, research institutes, economic strength, and the
urgency to combat lifestyle diseases. These factors combined make it a thriving
hub for advancements in molecular diagnostics, paving the way for improved
patient outcomes and a brighter future in healthcare.
Major companies
operating in India Molecular Diagnostics Market are:
- Roche
Diagnostics India Pvt Ltd
- Abbott India Ltd
- Qiagen India Pvt Ltd
- BioMérieux India Pvt Ltd
- Becton Dickinson Pvt Ltd
- Bio-Techne India Pvt Ltd
- Danaher India (DHR Holding India Pvt.
Ltd.)
- Bio-Rad laboratories India Pvt.Ltd
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“The future of
the Molecular Diagnostics Market in India appears promising. With the
increasing prevalence of infectious diseases and the growing awareness about
personalized medicine, the demand for advanced diagnostics is set to rise. In
addition, the Indian government's ambitious initiatives in healthcare, coupled
with technological advancements and the growing healthcare sector, are expected
to propel this market further. Nevertheless, the high cost of molecular tests
and limited awareness in rural areas may pose challenges to this growth.
Despite these obstacles, the market is projected to witness significant
expansion in the next few years.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“India Molecular
Diagnostics Market By Application (Infectious Disease, Blood Screening, Genetic
Testing, Oncology Testing), By Technology (PCR, In-situ Hybridization, Chips
and Microarrays, Mass Spectrometry, Sequencing, Others), By End User
(Hospitals, Academic & Reference Laboratories), By Region, Competition,
Forecast & Opportunities, 2019-2019F”, has evaluated the future growth potential of India Molecular
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 India Molecular Diagnostics
Market.
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