India In-Vitro Diagnostic Reagents Markets, Competition, Forecasts & Opportunities, 2028F

DUBLIN, March 27, 2023 /PRNewswire/ -- The "India In-Vitro Diagnostic Reagents Market, By Type (Chemical, Bio-Chemical, Immunochemical), By Application (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Others), By End User, By Region, Competition, Forecast & Opportunities, 2018-2028F" report has been added to  ResearchAndMarkets.com's offering.

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, 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.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India In-Vitro Diagnostic Reagents Market.

• 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

Report Scope:

India In-Vitro Diagnostic Reagents Market, By Type:

• Chemical
• Bio-Chemical
• Immunochemical

India In-Vitro Diagnostic Reagents Market, By Application:

• Immunoassay
• Clinical Chemistry
• Molecular Diagnostics
• Hematology Analysers
• Urinalysis
• Others

India In-Vitro Diagnostic Reagents Market, By End User:

• Hospitals & Clinics
• Diagnostic Laboratories
• Academic & Research Institutions
• Others

India In-Vitro Diagnostic Reagents Market, By Region:

• North India
• South India
• East India
• West India

For more information about this report visit https://www.researchandmarkets.com/r/m0ne1p

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