IVD Sector in India Shows Stable Growth and Exhibits Potential

According to a new report, the in vitro diagnostic (IVD) testing sector in India is estimated to have reached USB 782 million in 2015 and modernizing healthcare infrastructure and steady migration from manual to automated processes will support additional growth.

The report “IVD in India” by Kalorama Information (New York, NY, USA) places India and its IVD market in context with the developing world in terms of diseases, economic and healthcare system development, and other key metrics related to health expenditures and diagnostics.

“India will continue to offer one of the better markets for IVD products among emerging nations because of its economic stability,” said Bruce Carlson, publisher of Kalorama Information. “Leading IVD companies have all established themselves in India and are seeking long-term market growth in the country.”

India has the world’s 7th-largest economy by nominal gross domestic product (GDP), 3rd largest by purchasing power parity, and a stable growth rate averaging approximately 7% for the last 2 decades. Its long-term growth prospects are considered moderate due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

India as an IVD market opportunity is defined by its standing next to other populous countries with demonstrated economic promise—Brazil, Russia, China. India and its healthcare system are confronted by challenges shared by less developed countries, but also burdens common among developed middle-income and affluent countries such as diabetes, cardiovascular disease, obesity and diseases of aging. Economic growth has been fueled largely by the transfer of know-how, technology, and business practices from developed countries, as Indian citizens educated and working outside of the country return or send resources to friends and family at home.

Product opportunities for international IVD companies include rugged, easy-to-use rapid tests with built-in high specificity and sensitivity for applications in rural healthcare. Opportunities also exist for instrumentation in advanced diagnostics, including sequencers and molecular test analyzers, as well as microarrays and other multianalyte assays and multi-tool analyzers capable of running hematology and immunodiagnostic assays.

Kalorama’s new report features a 10-year forecast period, with projections of the total Indian IVD market and its component segments from 2015-2025; as well as IVD sales by segment (immunoassays, clinical chemistry, hematology, POC/OTC, molecular, urinalysis, other) in 2015, in 2020, and in 2025.

Related Links:
Kalorama Information
IVD in India, report