India In-Vitro Diagnostics Industry Analysis Till 2018 - Accreditation and Automation to Drive Future Growth

Online, November 13, 2013 (Newswire.com) - The report titled "India In-Vitro Diagnostics Industry Analysis till 2018 - Accreditation and Automation to Drive Future Growth" provides a comprehensive analysis of the various aspects such as market size of the India in-vitro diagnostics market, India immunochemistry market, India biochemistry market, India hematology market, India microbiology market, India blood gas and electrolyte market, India molecular diagnostics market, India urinalysis market and India coagulation market. The report also covers the market shares of major players in the immunochemistry, biochemistry and microbiology space as well as the overall in-vitro diagnostics market in India.

In-vitro diagnostics market in India, which has hugely been driven by the increasing number of lifestyle diseases, inclining preventive healthcare practices, mounting disposable incomes, government's initiatives and improving healthcare infrastructure, registered revenues of USD ~ million in FY'2013. With the advent of new varieties of diagnostic tests incorporating latest technology, the revenues increased by 25.8% compared to FY'2012, where the total revenues were USD ~ million. In-vitro diagnostics market in India is subject to a gamut of different factors, such as people with diabetes, heart, kidney and other infectious and lifestyle diseases, and the overall disposable incomes in the country, which play an important role in determining the revenues from various diagnostic segments. Immunochemistry was the largest contributing category in terms of revenue, having recorded sales of USD ~ million in fiscal year 2013, while biochemistry, hematology and microbiology also contributed a significant share to the overall revenues. The India in-vitro diagnostics market has grown at a CAGR of 19.4% from USD 303.2 million in FY'2007 to USD ~ million in FY'2013.

The in-vitro diagnostics market in India is comprised of various manufacturers that specialize in the development and production of diagnostic products in different segments. Along with the presence of leading diagnostic companies in the organized sector, market in India is also driven by the revenues of a huge number of manufacturers in the unorganized segment. Roche was the market leader in the overall IVD market India, while also dominating the immunochemistry and biochemistry segments in fiscal year 2013. In addition to the prevalence of several players in the organized segment, the market is also driven by the imports of numerous diagnostic products from China and other countries In-vitro diagnostics market in India has showcased several emerging trends over the past few years. Some of the most definitive of these trends has been the advent of decentralized testing, mounting automation in laboratories, increasing consolidation and preference for early detection of diseases. Several pathological labs have resorted to invest heftily, and have been adopting fully automated systems for diseases diagnosis. In light of this, the accuracy of test results has increased, while the turnaround times have declined significantly. Additionally, the growth of portable diagnostics devices has propelled the market for point of care testing in India.

The market for in-vitro diagnostics in India is changing at a brisk rate. Technological advancements, demand of diagnostic tests from an ever growing base of disease-ridden population, and people suffering from lifestyle diseases, as well as the transition of diagnostic product manufacturers from the unorganized to the organized segment have been significantly changing the market. Revenues from the in-vitro diagnostics market in India are expected to expand to USD ~ million in FY'2018, growing with a CAGR of ~% from FY'2013 to FY'2018.

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