The growing chronic disease prevalence is driving the India in-vitro diagnostics market demand during the forecast period.

The India In-Vitro Diagnostics Market size was valued at USD 2.64 billion in 2023, and is predicted to reach USD 4.40 billion by 2030, at a CAGR of 7.17% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The prevalence of cancer in India significantly drives the growth of the in-vitro diagnostics market. According to National Institutes of Health, in 2022, India witnessed approximately 14,61,427 new cancer cases, about one in every nine individuals in the country may face cancer during their lifetime.

The surge in cancer rates in India underscores the urgent need for advanced diagnostic solutions, driving significant demand for in-vitro diagnostics technologies. These technologies play a crucial role in enabling accurate cancer diagnosis, monitoring disease progression, and customizing personalized treatment strategies.

However, high costs associated with research, development, and regulatory approval are significant factors restraining the India in-vitro diagnostics market growth. Operating within this sector necessitates significant financial investment for companies to navigate the complex landscape of research and development. 

This investment often encompasses extensive clinical trials, laboratory testing, and product refinement to guarantee accuracy and reliability. Additionally, obtaining regulatory approvals from agencies such as the FDA requires strict adherence to stringent standards, further compounding the financial burden. This financial constraint can discourage potential adopters from market expansion.

On the other hand, point-of-care testing (POCT) is poised to be a significant driver of growth in the in-vitro diagnostics (IVD) market in the forthcoming years. POCT serves as a valuable complement to laboratory testing, especially in situations where immediate results are crucial, such as emergency departments, ambulances, and remote healthcare settings. 

With POCT technologies offering rapid tests for infectious diseases, cardiac markers, glucose monitoring, pregnancy testing, and more, healthcare providers can quickly assess patients' conditions and make timely treatment decisions.

By integrating POCT with traditional IVD, healthcare providers can enhance their diagnostic capabilities, delivering more efficient and patient-centered care. This integration streamlines workflows, allowing for faster diagnosis and treatment initiation, ultimately leading to improved patient outcomes.

Request for a sample here: https://www.nextmsc.com/india-in-vitro-diagnostics-market/request-sample

Several key players operating in the India in-vitro diagnostics industry include Roche Holding AG, Abbott Laboratories, Thermo Fisher Scientific Inc, Danaher Corporation, Becton, Dickinson and Company, Siemens Healthineers AG, bioMérieux SA, Sysmex Corporation, QIAGEN N.V., and Bio-Rad Laboratories, Inc., and others.

Key Insights from the India In-Vitro Diagnostics Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the India in-vitro diagnostics market trends is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the India in-vitro diagnostics market is provided in the report along with their competitive analysis.