Sat. Dec 4th, 2021

Surge in number of in vitro diagnostic tests is expected to drive the growth of India In Vitro Diagnostics Market during the forecast period.

According to TechSci Research report, India In Vitro Diagnostics Market By Product (Instrument, Reagent, Other Products), By Test Type (Clinical Chemistry, Molecular Diagnostics, Haematology, Immuno Diagnostics, Other Types), By Usability (Disposable In Vitro Diagnostics Devices, Reusable In Vitro Diagnostics Devices), By Application (Infectious Disease, Diabetes, Oncology, Cardiology, Autoimmune Disease, Nephrology, Others), By End User (Diagnostic Laboratories, Hospitals & Clinics, Others), By Company, By Region, Forecast & Opportunities, FY2026”, the India In Vitro Diagnostics market is expected to grow at a steady rate during the forecast period. Existence of several research organizations providing consulting services, clinical research, and laboratory testing owing to high demand for rapid diagnosis and treatments is projected to act as major market driving factor. Moreover, surging use of personalized medicines for treating a number of chronic diseases such as cancer is further expected to fuel the market growth through FY2026. Furthermore, increased availability of over the counter tests is further estimated to boost the growth of In Vitro Diagnostics market. Increased government funding in healthcare sector for providing education regarding In Vitro Diagnostics tools is further expected to drive the market growth during the forecast period. However, inadequate reimbursement can restrict the market growth over the next few years. Moreover, stringent government regulations can further hinder the market growth during the forecast period.

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The India In Vitro Diagnostics market is segmented based on product, test type, usability, application, end user, company, and region. Based on end user, the market can be fragmented into diagnostic laboratories, hospitals & clinics, others. The hospitals & clinics segment dominated the market in terms of major market share and is expected to maintain its market position in the forthcoming years as well. This dominance is due to growing need for immense amount of diagnostic testing in order to support a clinical decision for improving patient recovery. Based on application, the market can be categorized into infectious disease, diabetes, oncology, cardiology, autoimmune disease, nephrology, others. Among these, the infectious disease segment is expected to dominate the market over the forecast period which can be accredited to upsurge in prevalence of infectious diseases in the country like pneumonia, tuberculosis, AIDS, and HIV.

Ortho Clinical Diagnostics India Private Limited, Danaher (DHR) Holding India Pvt Limited, Roche Diagnostics India Pvt. Ltd., Abbott India Limited, Transasia Bio-Medicals Ltd., bioMérieux India Limited, Becton Dickinson Private Limited, Thermo Fisher Scientific India Pvt. Ltd., Siemens Healthineers India Pvt. Ltd., Sysmex India Pvt. Ltd and others are some of the leading players operating in India In Vitro Diagnostics market. Companies operating in the market are using organic strategies such as product launches, mergers acquisitions and research collaborations to boost their share and increase their geographic reach.

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“India In Vitro Diagnostics market is expected to witness steady growth during the forecast period on account of rising demand for point-of-care In Vitro Diagnostic devices. Along with this, increased adoption of In Vitro Diagnostic instruments/devices by healthcare professionals due to their conveniency, is further forecast to bode well for the growth of In Vitro Diagnostics market in the country. Moreover, surging awareness about disease diagnosis is further expected to create lucrative opportunities for growth for Indian In Vitro Diagnostics market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India In Vitro Diagnostics Market By Product (Instrument, Reagent, Other Products), By Test Type (Clinical Chemistry, Molecular Diagnostics, Haematology, Immuno Diagnostics, Other Types), By Usability (Disposable In Vitro Diagnostics Devices, Reusable In Vitro Diagnostics Devices), By Application (Infectious Disease, Diabetes, Oncology, Cardiology, Autoimmune Disease, Nephrology, Others), By End User (Diagnostic Laboratories, Hospitals & Clinics, Others), By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of 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 India In Vitro Diagnostics market.

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