NOTE: This report is based on 2008 Market Data
The current population of India is 1.14 billion, and with a growth rate of 1.7%, India will surpass China to become the world’s largest country around 2030. For diagnostic manufacturers, this enormous market is just now being recognized as a high-growth area as the pace of economic growth in India accelerates and modern laboratory practices become established.
This comprehensive report, produced in collaboration with IVD research firm McEvoy and Farmer on the market for clinical in vitro diagnostic (IVD) tests in India, covers both reagent and instrumentation markets for the following IVD sectors:
McEvoy and Farmer have a long history of watching markets in Asia, and this report is based on their 2008 on-the-ground research, which is their latest research round in India, and contains their estimates, observations and analysis regarding the Indian IVD market. The report details all the critical market data in each segment, including:
This study is the result of on-the-ground primary research by the well-known Seattle-based team of McEvoy & Farmer. Although the focus is on what is happening now, the report provides historical background from McEvoy & Farmer’s 12+ years of studying IVD markets in Asia and particularly India and China. As part of the report's extensive coverage, the following companies are profiled:
INTERNATIONAL MANUFACTURER PROFILES
DOMESTIC MANUFACTURER PROFILES
Shortage of Reagents to Drive Growth of IVD Market in India, Says Kalorama Information
August 23, 2010, New York - As the GDP growth rate in India nears 9%, diagnostic manufacturers are gearing up to collect their share of the IVD market, which, according to healthcare market research publisher Kalorama Information, is expected to enjoy a 15% growth rate through 2014. Private companies are marching ahead of the public sector as laboratory chains prepare to meet the growing medical needs of the 1.18 billion people living in India. However, the report notes that such strong growth is producing a shortage of reagents on the market.
Low costs and a readily available talent pool are promoting growth efforts in the IVD market—mainly low cost and speedy registration of new products and an exponentially increasing number of university graduates. According to Kalorama, notable companies, such as SRL Ranbaxy, Dr. Lal PathLabs and Quest are building new laboratories, often engaging in partnerships with the public sector. This immense cycle of growth is leading to a shortage in the availability of reagents, as private and public sectors compete for supplies from a growing reagent rental program.
“It’s not surprising to see a shortage of reagents in the market,” notes Bruce Carlson, publisher of Kalorama Information. “With the considerable growth in India, there is likely to be a shortage of some medical supplies at various times.”
Metropolitan growth in India has led many of India’s rural citizens to flock to its new urban centers, increasing prosperity, insurance availability and the number of individuals willing to pay for healthcare. The Kalorama report also notes government activity, which has made strides in promoting medical tourism, attracting foreign patients interested in paying less for similar healthcare services offered in the west.
Kalorama’s report, Clinical Diagnostics in India: Market Analyses and Participant Directory, has market projections, pricing comparisons, and profiles of major competitors in the industry and covers routine chemistry, urine chemistry, hematology, coagulation, cytometry, immunochemistry, rapid testing, blood screening, and molecular testing.
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