India Molecular Diagnostics Market Size & Outlook
India molecular diagnostics market, 2018-2030 (US$M)
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India molecular diagnostics market highlights
- The India molecular diagnostics market generated a revenue of USD 3,850.7 million in 2023 and is expected to reach USD 671.8 million by 2030.
- The India market is expected to grow at a CAGR of -22.1% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- Home Care is the most lucrative end use segment registering the fastest growth during the forecast period.
Molecular diagnostics market data book summary
| Market revenue in 2023 | USD 3,850.7 million |
| Market revenue in 2030 | USD 671.8 million |
| Growth rate | -22.1% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | Home Care |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hospitals, Outpatient Facilities, Home Care |
| Key market players worldwide | Becton Dickinson & Co, BioMerieux SA, Bio-Rad Laboratories Inc, Abbott Laboratories, Agilent Technologies Inc, Danaher Corp, Hologic Inc, Illumina Inc, Grifols SA Ordinary Shares - Class A, Qiagen NV, Roche Holding AG, Siemens Healthineers AG ADR, Sysmex Corp |
Other key industry trends
- In terms of revenue, India accounted for 7.9% of the global molecular diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China molecular diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,256.8 million by 2030.
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Molecular Diagnostics Market Scope
Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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India molecular 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 molecular diagnostics market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 47.31% in 2023. Horizon Databook has segmented the India molecular diagnostics market based on hospitals, outpatient facilities, home care covering the revenue growth of each sub-segment from 2018 to 2030.
India’s market is a different scenario compared to the other countries in the Asia Pacific, such as China and Japan, owing to relaxed regulatory guidelines and the import of most equipment & materials from other countries. Its market is expected to grow significantly due to increased investments by private and foreign entities, which can help provide effective tests at lower costs.
This can further improve the scope of the protein purification market in India. The well-distributed network of clinical laboratories and hospitals in India leads to faster adoption of protein purification techniques. Another factor expected to boost the molecular diagnostics market in India is the rising number of SARS-CoV-2 cases in the second wave.
However, only 40% of these tests are PCR-based. Hence, the need for more cost-effective and faster PCR tests increased. The Indian Council of Medical Research (ICMR) allows private laboratories, such as Metropolis Labs, Reliance Life Sciences, Dr. LAL, SRL, and Thyrocare, to conduct testing for coronavirus.
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Our clientele includes a mix of molecular 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 molecular diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into India molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India molecular diagnostics market size, by end use, 2018-2030 (US$M)
India Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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