India Covid-19 Diagnostics Market Size & Outlook
India covid-19 diagnostics market, 2020-2030 (US$M)
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India covid-19 diagnostics market highlights
- The India covid-19 diagnostics market generated a revenue of USD 2,896.0 million in 2023 and is expected to reach USD 405.2 million by 2030.
- The India market is expected to grow at a CAGR of -24.5% from 2024 to 2030.
- In terms of segment, reagents & kits was the largest revenue generating product in 2023.
- Reagents & Kits is the most lucrative product segment registering the fastest growth during the forecast period.
Covid-19 diagnostics market data book summary
| Market revenue in 2023 | USD 2,896.0 million |
| Market revenue in 2030 | USD 405.2 million |
| Growth rate | -24.5% (CAGR from 2023 to 2030) |
| Largest segment | Reagents & kits |
| Fastest growing segment | Reagents & Kits |
| Historical data | 2020 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents & Kits, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, Hologic Inc, Roche, PerkinElmer, Veredus Laboratories, QuidelOrtho Corp, Quest Diagnostics Inc, Luminex, Labcorp Holdings Inc, Abbott Laboratories, 1Drop Diagnostics, ADT Inc, Mylab Discovery Solutions, Neuberg Diagnostics, Aldatu Biosciences, altona Diagnostics GmbH |
Other key industry trends
- In terms of revenue, India accounted for 8.8% of the global covid-19 diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India covid-19 diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 52.4 million by 2030.
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COVID-19 Diagnostics Market Scope
COVID-19 Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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India covid-19 diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to covid-19 diagnostics market will help companies and investors design strategic landscapes.
Reagents & kits was the largest segment with a revenue share of 67.32% in 2023. Horizon Databook has segmented the India covid-19 diagnostics market based on instruments, reagents & kits, services covering the revenue growth of each sub-segment from 2020 to 2030.
India witnessed rapid growth in the global COVID-19 diagnostics market. This can be attributed to increasing testing capacity by government and new entrants in the market. The country has been expanding its testing capability for COVID-19.
For instance, as of May 15, 2020, the number of COVID19 tests carried out in India crossed 2 million. As per a statement by the Indian Health Minister, the country has reached its daily capacity of 100,000 tests, with 504 laboratories performing testing throughout the country.
On April 8, 2020, the Supreme Court of India ordered private clinics to offer the tests for free for the economically weaker sections, and 145 private laboratories are performing tests in the country. The Indian Council of Medical Research (ICMR) permitted the use of two types of testing kits, which require swabs and blood collection kits.
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Our clientele includes a mix of covid-19 diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India covid-19 diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into India covid-19 diagnostics market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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India covid-19 diagnostics market size, by product, 2020-2030 (US$M)
India COVID-19 Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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