The India In-Vitro Diagnostic Reagents
market is anticipated to witness impressive
growth during the forecast period. This can be ascribed to the
growing number of accredited clinical laboratories, along with the increasing
prevalence of chronic diseases across the country. Additionally, the growing consumer
awareness about new diagnostic techniques and the increasing geriatric
population has led to an increase in laboratory testing and diagnostic
procedures which are anticipated to boost the market growth during the forecast
period. Additionally, securing accreditation from regulatory bodies
is important for all clinical laboratories to perform diagnostic tests in the
country, which is further driving the market growth over the years. Besides,
growing awareness about the advantages of using new tests, along with increasing
healthcare expenditure for the treatment of chronic diseases across the globe are
further expected to support the In-vitro diagnostic reagents market during the
forecast period. Similarly, increasing health awareness and demand for quality
of healthcare is further expected to create a
lucrative growth during the forecast period. Also, developing the
clinical research market in the underdeveloped region along with increasing
corporate presence in healthcare including establishing diagnostic laboratories
is anticipated to boost the growth of the market during the forecast period.
Increasing
Funding for Research and Development Activities
The
increasing research and development activities in private and government
research institutes in the last years, along with various government
organizations investing in novel technologies are expected to create lucrative
growth during the forecast period. Similarly, rising healthcare concerns
globally, combined with various complexities in clinical trials, and higher
failure of drugs in the earlier phase of studies, can enhance the demand for
In-vitro diagnostic reagents, boosting the market growth. India accounts for
1% of the global IVD reagents market which is currently more than $ 60 billion
and its share is expected to double by 2020 with an estimated 5-year CAGR of
15% to 20%. In 2019, the drop-off for dyslipidemia in India from the patient
pool to the treated pool, was the steepest with over 500 million patients in
the patient pool while 63 million were treated and increasing the number of
people suffering with diabetes which in turn enhanced the demand for diagnostic
reagents in India. Also, increasing and mortality rate because of COVID-19,
cardiovascular diseases, and cancers is expected to drive the In-vitro
diagnostic reagents market during the forecast period. Rise in adoption of various mergers and acquisitions,
partnership and collaborations, product launches between India and global
pharmaceutical companies such as GlaxoSmithKline (GSK), Eli Lilly, and others
are facilitating the growth of the market.
In
March 2021, Thermo Fisher Scientific launched Applied Biosystems QuantStudio 5
Dx Real-Time PCR System to analyse a large number of samples in a short
duration, resulting in an increase in efficiency of clinical laboratories and
providing customizable output and used in molecular diagnostic testing.
Growing
development in the Healthcare Industry
The
pharma and healthcare sector are rapidly growing with technological innovations,
increasing healthcare spending, and improving healthcare facilities and systems.
This is expected to create lucrative growth during the forecast period. Many
hospitals, ambulatory surgical care centers, and clinics are adopting advanced
devices and equipment across the region which will enhance the growth of the
market. Increasing initiatives and
subsequent collaborations between research organizations are facilitating the
development of novel tests for the detection of diseases, which is expected to
boost the market growth during the forecast period. For
instance,in February 2022, Thermo Fisher Scientific Inc. launched the Renvo
Rapid PCR Test to detect in-air SARS-CoV-2 pathogens.
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Market
Segmentation
The India
In-Vitro Diagnostic Reagents market can be segmented by type, by
application, by end-user, and by region. Based on type, the market can be segmented
into Chemical,
Bio-Chemical, and Immunochemical. Based
on application, the market can be differentiated into Immunoassay, Clinical Chemistry, Molecular Diagnostics, Hematology
Analysers, Urinalysis, and Others.
Based on end-user, the market can be differentiated into Hospitals & Clinics, Diagnostic Laboratories, Academic &
Research Institutions, and Others.
Market Players
DiaSys Diagnostics India Pvt Ltd, Transasia
Bio-Medicals Ltd., Oscar Medicare Pvt. Ltd., CPC Diagnostics (P) Ltd., Agappe
Diagnostics Ltd, BioSystems Diagnostics Pvt. Ltd, Tulip Diagnostics (P) Ltd are some of the leading players
operating in the India
In-Vitro Diagnostic Reagents Market.
Recent Development
For instance, F. Hoffmann-La Roche Ltd
experienced a surge in the revenue generated from the point of care segment by
139.4% in 2021 compared to 2020.
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Attribute
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Details
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Base Year
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2022
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Historic
Data
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2018 – 2021
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report
coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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|
Segments
covered
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·
By Type
·
By Application
·
By End User
·
By Region
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|
Regional
scope
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North India;
South India; East India; West India
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|
Key
companies profiled
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DiaSys Diagnostics India Pvt Ltd, Transasia Bio-Medicals Ltd., Oscar
Medicare Pvt. Ltd., CPC Diagnostics (P) Ltd., Agappe Diagnostics Ltd,
BioSystems Diagnostics Pvt. Ltd, Tulip Diagnostics (P) Ltd
|
|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and
purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, India In-Vitro Diagnostic Reagents
Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- India
In-Vitro Diagnostic Reagents Market, By Type:
o Chemical
o Bio-Chemical
o Immunochemical
- India In-Vitro Diagnostic
Reagents Market, By Application:
o
Immunoassay
o
Clinical Chemistry
o
Molecular
Diagnostics
o
Hematology Analysers
o
Urinalysis
o
Others
·
India
In-Vitro Diagnostic Reagents Market,
By End User:
o
Hospitals &
Clinics
o
Diagnostic
Laboratories
o
Academic &
Research Institutions
o
Others
·
India
In-Vitro Diagnostic Reagents Market, By Region:
o North India
o South India
o East India
o West India
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India In-Vitro Diagnostic Reagents Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
India In-Vitro Diagnostic Reagents
Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]