Advancing India's In-Vitro Diagnostics

The market of In Vitro Diagnostics (IVD) in India has observed a phenomenal growth due to several factors such as rising health awareness, new generation IVD products, and the rising incidence of chronic diseases. Currently, the market has a CAGR of more than 10 percent owing to the expanding middle class, better healthcare facilities, and the increasing demand for pointof- care testing (POCT). The Indian IVD market is characterized by rapid adoption of advanced diagnostic technologies especially in the molecular diagnostics, immunoassays and clinical chemistry. The COVID-19 outbreak has galvanized this growth because of the focus on accurate and fast diagnosis, which has boosted investments in IVD technologies. Further, the government has also been instrumental in improving the diagnostic facilities in the country, especially in the rural and the urban sectors.

An increase in NCDs such as diabetes, cardiovascular diseases, and cancer has also increased the need for early diagnosis and accurate tests to fuel the growth of the IVD market. Also, the rapid expansion of the digital health platforms and telemedicine has enhanced the diagnostics and thus fueling the market growth. However, there are still some issues, which are more related to the regulation and pricing issues. The current advancements in artificial intelligence (AI) and machine learning (ML) in diagnostics coupled with partnerships between local and global players are likely to counter these challenges.

It is with the view of staying updated with the emerging trends in this market landscape that Asia Business Outlook has come up with a special issue containing stories of companies that have demonstrated their capability through their expertise. To strengthen this business landscape with their tightly-knit and result-oriented approach, they are setting new standards of effectiveness.

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