Dublin, Nov. 15, 2024 (GLOBE NEWSWIRE) -- The "India In-vitro Diagnostic Reagents Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
India's In-vitro Diagnostic Reagents Market was valued at USD 1.68 billion in 2024 and is anticipated to project impressive growth in the forecast period with a CAGR of 6.55% through 2030.
The Indian In-vitro Diagnostic (IVD) Reagents market is witnessing substantial growth and evolution, propelled by technological advancements, heightened healthcare awareness, and a surge in chronic disease cases. The market's future appears bright, with continuous innovations in diagnostic technologies and escalating healthcare investments. The increasing emphasis on personalized medicine and the emergence of novel biomarkers are poised to unlock new growth opportunities. Furthermore, the COVID-19 pandemic has underscored the critical role of diagnostics, paving the way for sustained investment and innovation in this sector.
Key Market Drivers
- Technological Advancements
- Rising Prevalence of Chronic Diseases
- Growing Healthcare Awareness
Key Market Challenges
- Regulatory Hurdles and Compliance Issues
- High Costs of Advanced Diagnostic Technologies
- Limited Skilled Workforce and Infrastructure
Key Market Trends
- Integration of Artificial Intelligence and Machine Learning
- Expansion of Point-of-Care Testing (POCT)
Regional Insights
North India emerged as the dominant region in the India In-vitro Diagnostics Reagents market in 2024, holding the largest market share in terms of value. North India is home to several major metropolitan cities such as Delhi, Noida, Gurgaon, Chandigarh, and Jaipur. These cities serve as healthcare hubs with a high concentration of hospitals, diagnostic laboratories, and healthcare centers. The presence of these facilities increases the demand for IVD reagents to support a wide range of diagnostic tests.
The region boasts renowned specialty hospitals and medical centers that attract patients from across the country and neighboring regions. These facilities require a constant supply of high-quality IVD reagents for routine diagnostic tests as well as specialized assays in areas like oncology, cardiology, and nephrology. North India has a dense population, including urban centers with a significant demand for healthcare services. The densely populated states of Uttar Pradesh, Punjab, Haryana, and Delhi-NCR collectively contribute to a substantial volume of diagnostic tests, thereby driving the demand for IVD reagents.
The region has witnessed significant investments in healthcare infrastructure, including the establishment of new hospitals, clinics, and diagnostic centers. This development has expanded access to healthcare services and increased the utilization of diagnostic tests, supporting the growth of the IVD reagents market.
Key Market Players
- Abbott Laboratories Inc.
- Becton, Dickinson and Company
- F. Hoffmann-La Roche Ltd.
- Transasia Bio-Medicals Ltd.
- Thermo Fisher Scientific Inc.
Report Scope
In this report, the India In-vitro Diagnostic Reagents Market has been segmented into the following categories:
By Test Type
- Clinical Chemistry
- Molecular Diagnostics
- Hematology
- Immuno Diagnostics
- Other Types
By Product
- Instrument
- Reagent
- Other
By Usability
- Disposable
- Reusable
By Application
- Infectious Disease
- Diabetes
- Cancer/Oncology
- Cardiology
- Autoimmune Disease
- Nephrology
- Other
By End User
- Diagnostic Laboratories
- Hospitals and Clinics
- Other
By Region
- North India
- South India
- West India
- East India
For more information about this report visit https://www.researchandmarkets.com/r/zibsqc
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