India Coronavirus Diagnostics Market to show an impressive double digit CAGR until FY2027
Continued spread of COVID-19 virus
drives the growth of India Coronavirus Diagnostics Market, in the forecast
period, FY2023-FY2027.
According to TechSci report on, “India Coronavirus Diagnostics Market By Type of Test
(Molecular v/s Serology) By User (Single v/s Multiple) By Full Test Time (Less
Than 60 Minutes, 1 Hours to 12 Hours, 13 Hours-24Hours, More Than 1 Day) By End
User (Hospitals, Public Health Labs, Private or Commercial Labs, Physician
Labs, Others) By Region, Competition Forecast & Opportunities, FY2027”, India coronavirus diagnostics
market has shown promising growth in historical
years until FY2020 and is expected to continue its growth in upcoming forecast
years FY2022 to FY2027. Rising government initiatives for mass testing due to
the latest outbreak is driving the growth of the India coronavirus diagnostics market.
Increased mobile testing is also expected to drive the market growth of India
coronavirus diagnostics market in the upcoming five years. The private
investments are also boosting the growth of the India coronavirus diagnostics market
in the upcoming five years. Moreover, advancements of the process that provides
provision of at-home testing and advanced software integrations is expected to
support the growth of the India coronavirus diagnostics market.
Wuhan
City, China was the firstly discovered geography where the COVID-19 virus outbreak
was addressed. Within next 3 months, world health organization (WHO) confirmed
the outbreak to be a pandemic and death threat to the human population. This
catastrophic pandemic has already claimed millions of lives and although the
precaution measures are widely accepted, the number of cases has not yet died.
With the spur of variant strains of the virus, a new wave of infection is still
on. This would support the market growth since the death threat is concerning.
Also, increasing healthcare expenditures is going to support the market growth,
actively.
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data Figures spread through 70 Pages and an in-depth TOC on "India Coronavirus
Diagnostics Market"
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India
coronavirus diagnostics market is segmented by type of test, user, full time
test, end user, regional distribution, and competitional landscape. Based on full
time test, the market is further segmented into less than 60 minutes, 1 hours
to 12 hours, 13 hours-24hours, and more than 1 day. With the increasing umber
of cases, rapid testing and diagnosing is required, thus the market segment for
tests that take full time about 12 hours is anticipated to hold the largest
share. The segment held largest share in the historical year too. Tests that
take less than 60 mins are not too reliable and are often carried out for the
repetitive tests.
Based on end
user, the market is further bifurcated into hospitals, public health labs,
private or commercial labs, physician labs, and others. Hospitals held the
largest share of the market in the historical years, and it is anticipated to
dominate the market in forecast period too. The convenience of immediate
admittance for the diseased cure and availability of the diagnostic kits always
are the major factor driving the growth of the market. Private or commercial
labs are also anticipated to show significant growth in the upcoming five
years, because diagnostic kits are now available at various centres, and
increasing patient count in hospitals have turned the population toward
commercial labs for the early diagnosis and vaccination processes.
Some of the top
players in the India coronavirus diagnostics market are, Abbott Laboratories
India Ltd., Biomerieux India Private Limited, Bio-Rad Laboratories India Pvt.
Ltd., DHR Holding India Pvt Ltd., Roche Diagnostics India Pvt. Ltd., Pfizer
India Ltd., Mylab Discovery Solutions Pvt. Ltd., Thermo Fisher Scientific India
Pvt. Ltd., CPC Diagnostics Pvt. Ltd., Zydus Cadila Ltd., among others. The
companies are involving themselves into research and development for the
methods of better quality, and various quality analysis tests to provide the
better products.
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“Antigen
based testing is a stable diagnostic process that is rapidly increasing its
market share. Although the process takes long for the confirmation, it is
stabler than the RNA samples that are used in the molecular testing. Also, the
antigen and antibody count are uniformly available in the sputum and blood
thereby making it more reliable test. With the rapidly increasing cases of
coronavirus in the country, the diagnostic process must evolve, be more
efficient, more reliable for a confirmed diagnosis. Moreover, the country is
also struggling with new strain spread. General awareness and concerns among
the population will increase diagnosis process. Moreover, West India is a
promising region for the market looking at the still increasing cases of corona
patients in states like Maharashtra along with other areas like Delhi,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India
Coronavirus Diagnostics Market By Type of Test (Molecular v/s Serology) By User
(Single v/s Multiple) By Full Test Time (Less Than 60 Minutes, 1 Hours to 12
Hours, 13 Hours-24Hours, More Than 1 Day) By End User (Hospitals, Public Health
Labs, Private or Commercial Labs, Physician Labs, Others) By Region,
Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India coronavirus
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 Coronavirus Diagnostics
market.
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