Mon. Nov 29th, 2021

Growing onset of chronic and infectious diseases is expected to drive the growth of India immunoassay market during the forecast period.

According to TechSci Research report, India Immunoassay Market By Product (Reagents and Kits, Analyzers/Instruments, Software and Services), By Technology (Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoro Immnoassay (FIA), Chemiluminescence Immunoassay (CLIA), Rapid Test, Others), By Indication (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Diseases, Autoimmune Diseases, Others), By End User (Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers, Others), By Company, By Region, Forecast & Opportunities, FY2026, the India immunoassay market is expected to grow at a significant rate during the forecast period on account of rise in geriatric population. Rising patient awareness pertaining to immunoassay-based point-of-care testing is bolstering the demand for product. In addition to this, certain benefits offered by immunoassays such as technological advancements and sensitivity, cost effectiveness and rapid analysis is further expected to fuel the market growth through FY2026. Also, rising trend of patent expiry is estimated to drive the demand for such drugs. However, low detection limit of immunoassays can restrict the market growth over the next few years. Moreover, unfavorable reimbursement scenario can further hinder the market growth during the forecast period.

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The India immunoassay market is segmented based on product, technology, indication, end user, company, and region. Based on indication, the market can be fragmented into radioimmunoassay (RIA), enzyme immunoassays (EIA), fluoro immunoassay (FIA), chemiluminescence immunoassay (CLIA), rapid test, others. The enzyme immunoassays segment is expected to dominate the market in the forthcoming years on account of increased popularity of enzyme-linked immunosorbent assays for detecting food allergies, West Nile virus infection and various other diseases, including AIDS, influenza, Lyme ailments, among others. Also, rapid test technology segment is projected to witness fastest growing CAGR in the years to come on account of its application in a wide range of ailments, such as dengue and infections. Based on indication, the market can be categorized into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious diseases, autoimmune diseases, others. The infectious diseases segment dominated the market until FY2020 owing to mounting prevalence of infectious diseases, such as tuberculosis, Lyme disease, salmonella infections in the country. Also, oncology segment is expected to register high growth during the forecast period, which is attributable to rise in number of cancer cases.

Roche Diagnostics India Pvt Ltd., Abbott India Limited, bioMérieux India Limited, Becton Dickinson Private Limited, Bio-Rad laboratories India Pvt. Ltd, Thermo Fisher Scientific India Pvt. Ltd., Danaher Holding India Pvt. Ltd., Siemens Healthineers India Pvt. Ltd., Randox Laboratories (India) Private Limited, and Sysmex India Pvt. Ltd, are some of the leading companies operating in the immunoassay market of India. Companies operating I the space are investing in research and development to maintain their dominance in the market.

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“India Immunoassay market is expected to witness steady growth during the forecast period which is attributable ongoing technological advancements in testing products. Additionally, major market players are focusing on strategic collaborations to commercialize their newly developed immunoassay products. This is further expected to create lucrative opportunities for the market growth of India immunoassay market over the next five years.” said Mr. Karan Chechi , Research Director with TechSci Research, a research based global management consulting firm.

India Immunoassay Market By Product (Reagents and Kits, Analyzers/Instruments, Software and Services), By Technology (Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoro Immnoassay (FIA), Chemiluminescence Immunoassay (CLIA), Rapid Test, Others), By Indication (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Diseases, Autoimmune Diseases, Others), By End User (Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers, Others), By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India immunoassay market and provides statistics and 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 Immunoassay market.

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