Menu ×

India and Neighboring Countries PoC Molecular Diagnostics Market to Grow with a CAGR of 16.34% During 2021-2026; Market to Witness Growth on Account of Increasing Focus of the Governments to Develop Healthcare Infrastructure

  • Text Size:

Research Nester published a report titled India and Neighboring Countries PoC Molecular Diagnostics Market: Demand Analysis & Opportunity Outlook 2026” which delivers detailed overview of the India and neighboring countries PoC molecular diagnostics market in terms of market segmentation by end user, product type, technology type, application and by country.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The India and neighboring countries PoC molecular diagnostics market is segmented on the basis of product type into kits & assays, analyzers, and software & services. Among these segments, the kits & assays segment in hospitals is anticipated to hold the largest market share throughout the forecast period, i.e., 2021-2026, and generate a revenue of USD 972.21 Million by the end of 2026. The market is further segmented by application into respiratory disease, infectious disease, oncology, STDs, prenatal testing, hematology, hepatitis, and others, out of which, the infectious disease segment is anticipated to hold the largest market share throughout the forecast period in the diagnostic labs end user segment, and further generate a revenue of USD 91.97 Million by the end of 2026.

The India and neighboring countries PoC molecular diagnostics market is estimated to grow with a CAGR of 16.34% during the forecast period, owing to the growing concern for the prevalence of infectious diseases, as well as for the increasing focus of the government of the nations in these countries to develop their healthcare infrastructure. The Ministry of Health & Family Welfare, Government of India, in its statistical report “National Health Profile (NHP) of India, 2019”, stated that pneumonia, and acute respiratory infections recorded a share of 30.65% and 27.21% respectively out of the total distribution of mortality of communicable diseases in the country.

The PoC molecular diagnostics market in India is anticipated to hold the largest market share throughout the forecast period out of all its neighboring countries. The market in the country is further anticipated to gain a revenue of USD 5323.40 Million by the end of 2026, backed by the increasing health expenditure by the government of the nation, and the need for quality healthcare services amongst the individuals in the region. The World Bank, in one of its statistics, stated that, the current health expenditure per capita (in current US$) in India was recorded to USD 72.835 thousand in the year 2018.

Growing Need for Advanced Healthcare Services in India and its Neighboring Countries

Backed by the growing concern for the spread of infectious diseases in these countries, there is a growing need for quality healthcare services in these Asian countries. Further, diseases, such as cancer, which is known to create huge burden amongst countries, is also anticipated to raise the need for molecular diagnostics, and in turn drive the market growth. The Indian Council of Medical Research (ICMR), in association with National Centre for Disease Informatics & Research (NCDIR), estimated cancer cases to reach 1.57 Million by 2025 in India. Further, growing cases of cancer in these countries is also anticipated to drive the market growth. The WHO, in one of its statistics, stated that confirmed coronavirus cases in India between the period 3rd of January 2020 and 8th of June 2021 recorded to be 28,996,473 confirmed cases.

However, the lack of reimbursement policies is one of the major factors expected to operate as key restraint to the growth of India and neighboring countries PoC molecular diagnostics market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the India and neighboring countries PoC molecular diagnostics market which includes company profiling of F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc., Molbio Diagnostics Pvt. Ltd., bioMerieux SA, Becton, Dickinson and Company, QuantuMDx Group Limited, Beckman Coulter, Inc., Abbott, MedGenome, Chembio Diagnostics, Inc., Sysmex Europe GmbH, Cepheid, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the India and neighboring countries PoC molecular diagnostics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     


Related Press Releases

Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved