India Coronavirus Diagnostics Market to show an impressive double digit CAGR until FY2027
Continued spread of COVID-19 virus drives the growth of India Coronavirus Diagnostics Market, in the forecast period, FY2023-FY2027.
According to TechSci report on, “India Coronavirus Diagnostics Market By Type of Test (Molecular v/s Serology) By User (Single v/s Multiple) By Full Test Time (Less Than 60 Minutes, 1 Hours to 12 Hours, 13 Hours-24Hours, More Than 1 Day) By End User (Hospitals, Public Health Labs, Private or Commercial Labs, Physician Labs, Others) By Region, Competition Forecast & Opportunities, FY2027”, India coronavirus diagnostics market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2022 to FY2027. Rising government initiatives for mass testing due to the latest outbreak is driving the growth of the India coronavirus diagnostics market.
Increased mobile testing is also expected to drive the market growth of India coronavirus diagnostics market in the upcoming five years. The private investments are also boosting the growth of the India coronavirus diagnostics market in the upcoming five years. Moreover, advancements of the process that provides provision of at-home testing and advanced software integrations is expected to support the growth of the India coronavirus diagnostics market.
Wuhan City, China was the firstly discovered geography where the COVID-19 virus outbreak was addressed. Within next 3 months, world health organization (WHO) confirmed the outbreak to be a pandemic and death threat to the human population. This catastrophic pandemic has already claimed millions of lives and although the precaution measures are widely accepted, the number of cases has not yet died. With the spur of variant strains of the virus, a new wave of infection is still on. This would support the market growth since the death threat is concerning. Also, increasing healthcare expenditures is going to support the market growth, actively.
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India coronavirus diagnostic market is segmented by type of test, user, full time test, end user, regional distribution, and competitional landscape. Based on full time test, the market is further segmented into less than 60 minutes, 1 hours to 12 hours, 13 hours-24hours, and more than 1 day. With the increasing umber of cases, rapid testing and diagnosing is required, thus the market segment for tests that take full time about 12 hours is anticipated to hold the largest share. The segment held largest share in the historical year too. Tests that take less than 60 mins are not too reliable and are often carried out for the repetitive tests.
Based on end user, the market is further bifurcated into hospitals, public health labs, private or commercial labs, physician labs, and others. Hospitals held the largest share of the market in the historical years, and it is anticipated to dominate the market in forecast period too. The convenience of immediate admittance for the diseased cure and availability of the diagnostic kits always are the major factor driving the growth of the market. Private or commercial labs are also anticipated to show significant growth in the upcoming five years, because diagnostic kits are now available at various centres, and increasing patient count in hospitals have turned the population toward commercial labs for the early diagnosis and vaccination processes.
Some of the top players in the India coronavirus diagnostics market are, Abbott Laboratories India Ltd., Biomerieux India Private Limited, Bio-Rad Laboratories India Pvt. Ltd., DHR Holding India Pvt Ltd., Roche Diagnostics India Pvt. Ltd., Pfizer India Ltd., Mylab Discovery Solutions Pvt. Ltd., Thermo Fisher Scientific India Pvt. Ltd., CPC Diagnostics Pvt. Ltd., Zydus Cadila Ltd., among others. The companies are involving themselves into research and development for the methods of better quality, and various quality analysis tests to provide the better products.
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“Antigen based testing is a stable diagnostic process that is rapidly increasing its market share. Although the process takes long for the confirmation, it is stabler than the RNA samples that are used in the molecular testing. Also, the antigen and antibody count are uniformly available in the sputum and blood thereby making it more reliable test. With the rapidly increasing cases of coronavirus in the country, the diagnostic process must evolve, be more efficient, more reliable for a confirmed diagnosis. Moreover, the country is also struggling with new strain spread. General awareness and concerns among the population will increase diagnosis process. Moreover, West India is a promising region for the market looking at the still increasing cases of corona patients in states like Maharashtra along with other areas like Delhi,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Coronavirus Diagnostics Market By Type of Test (Molecular v/s Serology) By User (Single v/s Multiple) By Full Test Time (Less Than 60 Minutes, 1 Hours to 12 Hours, 13 Hours-24Hours, More Than 1 Day) By End User (Hospitals, Public Health Labs, Private or Commercial Labs, Physician Labs, Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India coronavirus Diagnostics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Coronavirus Diagnostics market.
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