Future Outlook of India Point of Care Testing Devices Market: Ken Research
India’s POCT Market is in the growing stage, being driven by rising investments in healthcare infrastructure and technological advancements. Major players in the market are Abbot India, Roche Diagnostics, and Siemens Healthineers.
Key Market Findings:
- India has the second-highest diabetic population in the world with 77 million people diagnosed with diabetes.
- Blood Glucose Testing kits are popular due to the continuous need to regularly monitor glucose levels in the blood.
- India is one of the most affordable countries for expensive medical treatments. It is estimated that the cost of treatment in India is only about 10% – 20% of what similar treatments cost in the West and other countries.
Increasing awareness of personal health: The adoption of POCT in the nation has been made easier by the increased awareness of the treatment among medical professionals. It is also anticipated that the clinical research industry would open up new market prospects. Growing rates of chronic diseases including diabetes, cancer, and cardiovascular conditions will be significant contributors to POCT growth in India. Growing demand for personal health monitoring, home-based POCT adoption, and personalized medicine, which allows for more accurate illness diagnosis and treatment, will all be contributing to the growth of this market.
Promotion of Technology in Health Care: In India, the prevalence of chronic diseases like diabetes, hypertension, and obesity will increase. These conditions call for prompt diagnosis and treatment, which can be accomplished with the aid of POCT equipment. To encourage the use of technology in healthcare, the Indian government has also established the National Programme for Promotion of Technology in Health Care (NPPTHC). India has a sizable pool of IT specialists, which could be useful for creating cutting-edge POCT products in near future.
Automation and Diversification of Devices: Over the past five years, mobile labs have grown in popularity in India because they offer a convenient, affordable testing approach. Medical professionals can perform tests without a physical lab’s assistance thanks to mobile labs. For monitoring the sugar level via a mobile application, devices like the G-5 mobile continuous Glucose Monitoring System (licensed by the FDA) and Guardian Connect have begun to be used. Self-tracking tools like wearable wristbands with cloud storage, sleep trackers, blood pressure monitors, and finger stick blood tests are also becoming more popular.
Analysts at Ken Research in their latest publication “India Point of Care Testing Devices Market Outlook to 2027F– Driven by the increasing incidence of chronic diseases, rising awareness of rapid diagnosis in India” observed that the India POCT Market is in a growing phase. Increasing awareness of the advantages of POCT, increasing use of smartphones and telemedicine, and growing healthcare infrastructure are some of the factors that will contribute to the India POCT Market over the period of 2022-2027F. It is expected that India’s POCT Market will grow at a CAGR of 17.3% for the above-forecasted period.
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Key Segments Covered in the report
India POCT Market
Based on Devices
- Blood Glucose Testing Kits
- Cardio metabolic Monitoring
- Infectious Disease Testing Kits
- Blood Gas Electrolytes
- Hormonal Testing Kits
- Pregnancy Testing Kits
- Coagulation Test
- Others (Urinalysis Testing Kits, Hematology Testing Kits, Drugs Of Abuse Testing Kits, Fecal Occult Testing Kits, Lipids, Tumor/Cancer Markers etc.)
Based on end-user
- Hospital
- Consumers/individuals
- Diagnostic labs
- Clinics
- Home Healthcare
- Others
By Type of Device
- Consumables (cartridges, test strips etc.)
- Instruments (Main Device)
By Mode of production
- Import
- Domestic Production
By Region of Sales
- Tier-1
- Tier-2
- Tier-3
By Distribution Channel
- Through Distributors to end users
- Through Distributors to retailers
- Directly
Key Target Audience
- Point of Care Companies
- Hospitals & Clinics
- Government organizations
- Medical Devices and Equipment companies
- Home Healthcare Companies
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Period: 2022
- Forecast Period: 2022-2027F
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Companies Covered:
- Abbott India Limited
- Roche Diagnostics
- Siemens Healthcare Private Limited
- SD Biosensors
- Beckman Coulter India Pvt. Ltd.
- J Mitra & Co. Pvt. Ltd.
- Trans Asia Biomedical
- Bio Rad Laboratories
- DiaSys India
- EKF Diagnostic
- Triviton Healthcare Private Limited
- Becton Dickinson India Private Limited
- India Medtronic Private Limited
- Molbio
Key Topics Covered in the Report
- Healthcare Industry Overview in India
- Market Overview and Genesis of India POCT Market
- The ecosystem of India POCT devices Market
- Business Cycle and Value Chain Analysis of India POCT Market
- Timeline of Major Players in India POCT Market
- Market Sizing of India POCT Market, FY’2017-FY’2022
- Market Segmentation of India POCT Market
- Growth drivers of India POCT Market
- Issues and Challenges in India POCT Market
- Regulatory Framework of India POCT Market
- Trends and Developments in India POCT Market
- End User Analysis of India POCT Market
- Competition Framework of India POCT Market
- Future Outlook and Projections of India POCT Market, 2027F
- Market Opportunity and Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
India Point of Care Testing Devices Market
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