India In-Vitro Diagnostics (IVD) Market Size to Surpass USD 2.56 Billion by 2030

Published | 11 September 2024

India In-Vitro Diagnostics (IVD) Market is flourishing due to the increasing prevalence of non-communicable diseases, the adoption of advanced diagnostic tools, and growing investments in healthcare infrastructure

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India In-Vitro Diagnostics (IVD) Market size by value at USD 1.69 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India In-Vitro Diagnostics (IVD) Market size to expand at a CAGR of 6.25% reaching a value of USD 2.56 billion by 2030. The In-Vitro Diagnostics (IVD) Market in India is propelled by the rising prevalence of infectious diseases, chronic conditions, and the aging population. Government initiatives like "Make in India" and regulatory support are fostering domestic production and attracting global players. Technological advancements in immunodiagnostics, molecular diagnostics, and clinical chemistry are enabling earlier disease detection and personalized treatments. Notable market developments include strategic partnerships and the accelerated growth driven by the COVID-19 pandemic. These factors collectively position the Indian IVD market for continued expansion and the adoption of innovative diagnostic solutions.

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Opportunities - Growing Demand for Rapid and Accessible Diagnostic Solutions

The growing demand for rapid and accessible diagnostic solutions has become a significant trend within the in-vitro diagnostics (IVD) industry, notably accelerated by the COVID-19 pandemic. Emphasis on early detection and preventive healthcare is driving advancements in technologies such as liquid biopsy, digital pathology, and microfluidics, which are reshaping the diagnostic landscape. This surge in demand is fueled by the need for faster and more accurate testing methods, contributing to notable growth in the Indian IVD market. The rise of point-of-care testing and overall expansion of diagnostic capabilities reflect this increasing need. As healthcare systems worldwide aim to deliver timely and efficient diagnostic solutions, the industry is evolving to meet these demands through innovative technologies and enhanced accessibility.

North India is at the Forefront of India In-Vitro Diagnostics (IVD) Market

With a dense population and a sophisticated healthcare network, North India stands as a prime market for IVD products. States like Uttar Pradesh, Bihar, and Haryana, along with the National Capital Region (Delhi, Gurugram, Noida), offer a vast patient base and a robust infrastructure of hospitals, clinics, and diagnostic labs. This combination, coupled with growing economic prosperity and increased healthcare spending, solidifies North India's leading position in the IVD industry.

Impact of Escalating Geopolitical Tensions on India In-Vitro Diagnostics (IVD) Market

India In-Vitro Diagnostics (IVD) Market may face significant challenges from intensifying geopolitical tensions across the world. These tensions often disrupt supply chains, leading to shortages of critical raw materials and components. Trade restrictions and sanctions further exacerbate these issues, increasing costs and delaying the import of advanced technologies. The resulting uncertainty can deter foreign investments and collaborations, limiting opportunities for innovation and growth. As geopolitical conflicts continue to evolve, the Indian IVD market faces the ongoing challenge of ensuring a consistent supply, controlling costs, and maintaining overall stability.

Competitive Landscape

India In-Vitro Diagnostics (IVD) Market is fragmented, with numerous players serving the market. The key players dominating India In-Vitro Diagnostics (IVD) Market include Roche Diagnostics, Abbott Laboratories, Beckman Coulter, Becton and Dickinson, Sysmex, Transasia Bio-Medicals Ltd, Thermo Fisher Scientific Inc, J Mitra & Co Pvt Ltd, Advatech Healthcare Pvt Ltd, Tulip Diagnostics Pvt Ltd, Siemens Healthcare Pvt Ltd, and Bio-Rad Laboratories India Pvt Ltd. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of India In-Vitro Diagnostics (IVD) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and India In-Vitro Diagnostics (IVD) Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India In-Vitro Diagnostics (IVD) Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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