India Point-of-care Molecular Diagnostics Market Size & Outlook
India point-of-care molecular diagnostics market, 2018-2030 (US$M)
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India point-of-care molecular diagnostics market highlights
- The India point-of-care molecular diagnostics market generated a revenue of USD 231.9 million in 2023 and is expected to reach USD 401.2 million by 2030.
- The India market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, infectious diseases was the largest revenue generating application in 2023.
- Oncology is the most lucrative application segment registering the fastest growth during the forecast period.
Point-of-care molecular diagnostics market data book summary
| Market revenue in 2023 | USD 231.9 million |
| Market revenue in 2030 | USD 401.2 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Infectious diseases |
| Fastest growing segment | Oncology |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oncology, Prenatal Testing, Endocrinology, Other Applications, Hematology, Infectious Diseases |
| Key market players worldwide | Roche, Abbott Laboratories, Qiagen NV, Bayer AG, Nova Biomedical, Danaher Corp, Nipro Corp, Bio-Rad Laboratories Inc, Agilent Technologies Inc, BioMerieux SA, OraSure Technologies Inc, Abaxis |
Other key industry trends
- In terms of revenue, India accounted for 4.5% of the global point-of-care 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, Japan point-of-care molecular diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 401.2 million by 2030.
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Point-of-Care Molecular Diagnostics Market Scope
Point-of-Care Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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India point-of-care 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 point-of-care molecular diagnostics market will help companies and investors design strategic landscapes.
Infectious diseases was the largest segment with a revenue share of 93.49% in 2023. Horizon Databook has segmented the India point-of-care molecular diagnostics market based on oncology, prenatal testing, endocrinology, other applications, hematology, infectious diseases 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 Asia Pacific, such as China and Japan, owing to its relaxed regulatory guidelines and the import of most equipment & materials from other countries. The market in India is expected to grow significantly due to increased investments by private and foreign entities, which can provide effective tests at lower costs.
The well-distributed network of clinical laboratories and hospitals in India is expected to increase the adoption of POC molecular diagnostics techniques. Another factor that improved the growth in the POC molecular diagnostics market in India is the increased number of SARS-CoV-2 cases in the second wave. In May 2021, the number of tests carried out daily reached 2.5 million to contain the pandemic.
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 Thyro care, to conduct testing for coronavirus. However, due to limited trained staff, sample collection remained challenging in the country.
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Target buyers of India point-of-care molecular diagnostics market databook
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Our clientele includes a mix of point-of-care 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 point-of-care molecular diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into India point-of-care molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India point-of-care molecular diagnostics market size, by application, 2018-2030 (US$M)
India Point-of-Care Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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