India Laboratory Developed Tests Market Size & Outlook
India laboratory developed tests market, 2018-2030 (US$M)
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India laboratory developed tests market highlights
- The India laboratory developed tests market generated a revenue of USD 366.6 million in 2023 and is expected to reach USD 592.7 million by 2030.
- The India market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 366.6 million |
| Market revenue in 2030 | USD 592.7 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,142.9 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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India laboratory developed tests 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 laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 24.22% in 2023. Horizon Databook has segmented the India laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
The India LDT market is dynamic and rapidly evolving, driven primarily by increasing demand, government initiatives, and technological advancements. There have been several technological advancements in the field of LDTs in the country, including the development of new platforms for molecular diagnostics and the use of artificial intelligence & machine learning for the interpretation of test results.
In July 2020, Thyrocare announced the launch of a coronavirus antibody test in the country. Constant developments and innovation by companies in the diagnostic test area can further boost the demand for LDTs in the country.
LDT companies in India have launched new tests to cater to the growing demand for personalized and accurate diagnostic solutions. In August 2018, Mapmygenome entered into a partnership with DNAtix to advance personalized preventive medicine.
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Our clientele includes a mix of laboratory developed tests 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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Horizon Databook provides a detailed overview of country-level data and insights on the India laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into India laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India laboratory developed tests market size, by technology, 2018-2030 (US$M)
India Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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