- Clinical Chemistry
- Tissue Diagnostics
- Point of Care Tests
- Molecular Diagnostics
India Diagnostics Market size is anticipated to be valued at USD 2,013.5 million in 2021, and it is expanded to grow at a significant CAGR of 16.3% over 2022-2028. Increasing demand for novel healthcare facilities, rise in awareness of various diseases, health consciousness among people, growing per capita income, and high need for regular health check-ups in recent periods in India will be expected to drive the India diagnostics market over the forecast period. Rising awareness of communicable and non-communicable diseases among the population and subsequent preventive/treatment measures by regular monitoring of health with frequent check-ups under physician guidance is also a significant factor to drive the diagnostics market over the forecast period. The Indian diagnostics market players are majorly focusing on the majority of the in-vitro diagnostic products. However, while entering into new domains or developing a new product that has a more lucrative opportunity in the Indian IVD market, these companies follow a few strategic procedures. For instance, The Agappe company has focused on the hematology domain and started developing hematology analyzers. The company hired a clinical guide and a technical expert who has worked in several multinational corporations' research and development departments to develop this product. Finally, the company developed and launched India's first indigenous three-part diff hematology system. In 2021, the clinical chemistry segment accounted for a larger revenue share and projected to grow with a CAGR of 15.4% from 2020-2026, owing to the launch of newer diagnostics products.
Fastest Growing Market
Government initiatives toward public health awareness programs, frequent rural camps for healthcare services, and free medical support for people who donâ€™t have access to medical check-ups are also considerable factors driving the overall healthcare industry in India. Investments from private companies in healthcare industries and public and private companiesâ€™ projects to raise awareness of public health and wellness programs in recent periods in India are also a few significant factors expected to drive the India diagnostics market over the forecast period. Imports from other countries act as a growth restraint in the worldwide India diagnostics market. India diagnostics market is highly fragmented and unorganized due to the lack of regulations.
The India Diagnostics Market is projected to expand at a CAGR of 16.3% during the forecast period.
Trivitron healthcare., Accurex diagnostics, Sysmex Corporation, ThermoFisher scientific, Ortho clinical diagnostics
Key playerâ€™s profiles in the India diagnostics market include: