Indian diagnostics sector is witnessing an era of immense progress in innovative competencies and credibility. The use of advanced and cutting-edge technologies in understanding the disease prognosis has further strengthened the sophistication level of participants in the sector. Besides, significant developments at the demographics level has led to create a health-concerned society; thus, creating a demand pattern for effective and suitable diagnostic tests at a broad level.
According to our new report “Indian Diagnostic Market Analysis”, the Indian diagnostic market is projected to grow at a CAGR of around 16% between 2010 and 2012. The Indian diagnostics sector is largely unorganized and there is a high presence of players located at the regional or city level. However, the market is effectively establishing a clear and structured format that will seek to have better regulations and proper definition. Currently, the Indian diagnostics sector consists of instruments, reagents, and services.
In 2010, biochemistry and Immunochemistry took around 62% of the total share in the Indian in Vitro Diagnostics (IVD) market. Other IVD segments, such as hematology, critical care, urinalysis, and coagulation are also showing a satisfactory growth potential. Molecular diagnostics is another attractive area for growth in the diagnostics sector, with investment and consolidation on the top of sector participants. Market players, such as Transasia Bio-Medicals, Siemens, bioMérieux, Becton Dickinson, Suyog, Bio-Rad, etc are making efforts to enlarge their presence. The use of ‘Hub & Spoke Model’ is one of the prominent areas for strengthening the geographical growth.
The report “Indian Diagnostic Market Analysis” is an outcome of an in-depth research and prudent analysis of the Indian diagnostics sector, taking into account the reliability of data provided and content flow. The report covers all the key aspects of market and investigates trends that are likely to impact the industry in the long run. Segment-wise analysis in the market performance section emphasizes upon the relevant information and key developments. The coverage of active market players and their recent activities is done in an effective manner. Overall, the report is likely to be proved beneficial for all those entities who want to enter the market or make decisions regarding investment.