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Indian Diagnostic Market Poised to Grow at 16% CAGR

The Indian diagnostic market has been witnessing rapid growth on the back of high prevalence of disease and large share of growing diseases. Rising income of the middle and lower-income class population and the growing concerns for healthcare is also propelling the necessary boost to the market. High prevalence of chronic diseases including Cardiovascular Diseases, Diabetes, Cancer, HIV/AIDS, and Communicable Diseases are also rising alarmingly. Thus, the scope of growth for the Indian diagnostic sector is huge, says our new research report “Indian Diagnostic Market Analysis”.
Our research identified that the biochemistry and immunochemistry sectors in the market occupy a major share and are growing rapidly. In 2010, biochemistry and immunochemistry constituted around 62% of the total share in the Indian In Vitro Diagnostic market. Technological advancements had a major role to play in improving the performance of the sector in the initial years. The introduction of advanced, high precision and high throughput automated machines has especially facilitated the growth of the biochemistry segment. Thus, the Indian diagnostic market is projected to grow at a CAGR of around 16% during 2010-2012.

Other segments, such as hematology, critical care, urinalysis, and coagulation are also showing positive growth. Molecular diagnostics sector is a highly promising area in the Indian diagnostics and has witnessed several investment and consolidation activities. Based on the favorable conditions of the market, the future of this segment seems to be promising. Even the key market players are taking initiatives to increase their market presence.

The report prudently analyses the diagnostics sector in the country and entails a complete description of its individual components. It also highlights the key market trends prevailing in the industry and provides a future analysis of the market along with key forecasts. The major segments in the industry are analyzed and explained in detail along with recent developments in the sector. To provide a holistic study to the reader, the report also illustrates relevant information on the prevalence of diseases in the country as well. It also contains a section on the regulatory environment prevailing in the country and a competitive scenario to facilitate our clients to take an informed decision prior to investment.
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Article By: Shushmul Maheshwari
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