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India In Vitro Diagnostics (IVD) Market Size, Report, 2030GVR Report cover
![India In Vitro Diagnostics (IVD) Market Size, Share & Trends Report]()
India In Vitro Diagnostics (IVD) Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents, Software), By Technology, By Application, By End-use, By Test Location, By Region, And Segment Forecasts, 2024 - 2030
- Report ID: GVR-4-68040-203-4
- Number of Pages: 150
- Format: Electronic (PDF)
- Historical Range: 2018 - 2022
- Industry: Healthcare
India IVD Market Size & Trends
The India in vitro diagnostics market size was valued at USD 394.76 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2030. Rising infectious disease testing, chronic disease burden, and a robust lab network drive India's booming in vitro diagnostics (IVD) market. In addition, the presence of a robust network of laboratories and accelerating economic development is further leading to the rapid adoption of IVDs in India. Moreover, Indian government initiatives such as “Make in India” help manufacturers to meet the demand for necessary medical equipment, thereby further increasing the manufacturing capabilities of the nation.
COVID-19 pandemic affected the market and led to a significant growth. Along with that, infectious diseases such as sexually transmitted diseases, Human-immunodeficiency virus infection and acquired immune deficiency syndrome (HIV/AIDS), ventilator-acquired pneumonia, tuberculosis, and hospital-acquired infections are the potential drivers of the market.
Additionally, rising geriatric population in India and the penetration of chronic disease in the population requires effective and reliable diagnostic tests. This is expected to further increase the demand for IVD over the forecast period in the Indian market.
Market Concentration & Characteristics
The market growth is high, and the pace of the market is accelerating. The Indian IVD market is experiencing lucrative growth and rapid innovation, fueled by advancements in molecular diagnostics market and new product launches. For instance, in September 2022, BD Diagnostics, India, launched the BD MAX molecular diagnostic system and BD MAX MDR-TB panel in India launched a system that detects tuberculosis and tests for drug resistance to two important first-line drugs such as isoniazid (INH) and rifampicin (RIF) simultaneously.
Moreover, some of the key players are focusing on product expansion using government initiatives. In May 2022, Cipla Limited started commercialization of the 'RT-Direct' multiplex COVID-19 RT-PCR Test kit in India, in partnership with Genes2Me Pvt. Ltd. This kit is validated at the Indian Council of Medical Research (ICMR) approved Centre.
Companies are actively engaging in mergers and acquisitions (M&A) to boost their market positions, expand capabilities, diversify product portfolios, and enhance overall competitiveness. For instance, in January 2024, Fujirebio collaborates with Agappe to manufacture CLIA reagents for their Mispa analyzers in India. This deal makes Agappe the first Indian company to offer a complete chemiluminescence solution with locally produced reagents.Moreover, stringent regulatory approvals are supporting the market growth. India's fast-track Drugs Controller General of India DCGI approval process attracts global players, boosting market growth.
Product Insights
Based on the product, reagent held the largest share of 66.0% in 2023. The segment is expected to witness growth at a faster rate over the forecast period owing to the wide utility of IVD testing, escalating demand for self-testing & and point-of-care products, and increasing R&D activities. Furthermore, the introduction and commercialization of new reagents are expected to drive market growth. Increasing test frequency during COVID-19 pandemic has led to increasing production of testing kits which in turn boosts the demand for IVD in the market. For instance, in May 2022, Cipla Limited started the commercialization of the 'RT-Direct' multiplex COVID-19 RT-PCR Test kit in India, in partnership with Genes2Me Pvt. Ltd. This kit is validated at the Indian Council of Medical Research (ICMR) approved Centre.
The instrument segment is expected to grow at the fastest rate from 2024 to 2030. This is due to the prevalence of chronic diseases, which need early diagnostic setup and preventive treatment. This in turn boosts the demand in the market. For instance, in October 2022, Thermo Fisher Scientific launched the TaqPath enteric bacterial select panel test to detect gastrointestinal bacterial infections within 2 hours.
Technology Insights
Based on the technology, immunoassay dominated the market with a share of about 33.6% in 2023. The increasing incidence of chronic & communicable diseases and rising need for early diagnosis are the key factors leading to an increase in demand for immunological methods. These include different types of Enzyme-Linked Immunosorbent Assays (ELISAs). Moreover, key players shifting their focus on R&D for the development of new immunological diagnostic instruments and tests for IVD applications.
The coagulation segment is expected to grow at the fastest CAGR from 2024 to 2030. This is owing to the increasing prevalence of cardiovascular diseases, blood-related disorders, and autoimmune diseases. For instance, in January 2023, a new laboratory setting for coagulation opened at King George’s Medical University (KGMU) in Lucknow, to help hemophilia patients.
Application Insights
The infectious diseases segment dominated the market with a share of 52.4% in 2023. This is majorly due to the huge influence of COVID-19. Moreover, key players are introducing novel testing products to improve access to high-quality, innovative laboratory services for patients & healthcare providers. For instance, in February 2023, Thermofisher collaborated with Mylab and announced the launch of RT-PCR kits for infectious diseases, such as multi-drug resistant tuberculosis (MTB MDR), Hepatitis B virus (HBV), Hepatitis C virus (HCV), Human Immunodeficiency Virus (HIV), genetic analysis (HLA B27) with approval of Central Drugs Standard Control Organisation
Oncology is the second largest segment growing with a CAGR rate of 10.8% from 2024 to 2030. As per the National Institute of Health, in 2022, India reported around 14,61,427 cases, driving the demand for biomarker testing at an early stage and, in turn, expected to witness market growth over the forecast period. Moreover, increasing approval of novel tests, R&D activities, and favorable initiatives undertaken by regulatory bodies are expected to drive industry growth. For instance, in October 2023, the Central Drugs Standard Control Organization approved NexCAR19 India’s first CAR-T cell therapy for cancer patients.
End-use Insights
The hospitals segment dominated the revenue share with 39.56% in 2023 owing to a rise in the rate of hospitalizations that require support from early diagnostics. Moreover, emerging economic development and favorable government initiatives are anticipated to enhance the existing hospital facilities. Thus, the demand for hospital-based IVD tests is anticipated to further increase.
The home-care segment is growing at a faster rate of CAGR from 2024 to 2030 due to the rising geriatric population and increasing demand for home-care IVD devices. There is a growing need for novel molecular diagnostic and immunoassay platforms that can assist patients in conducting self-tests. For instance, in July 2021, Abbott introduced the COVID-19 Antigen Self-Test for the detection of the SARS-CoV-2 virus in adults and children with or without symptoms for efficient and effective testing.
Test Location Insights
The others (lab-based tests) was identified as the largest revenue contributor in 2023. A large number of tests can be analyzed at one time and the higher accuracy of laboratory-based tests make them more reliable compared to PoC and home tests, giving the segment a competitive edge. Moreover, the availability of tests that allow for sample collection at home and sending it to the laboratories for testing makes testing highly convenient for patients.
The home-care segment is expected to grow at the highest CAGR from 2024 to 2030 due to the increasing reliability of these tests and the patient-centric approaches of manufacturers. Moreover, the prevalence of geriatric population results in a surge of home care diagnostics. For instance, in Jun 2021, an Indian healthcare start-up Healthians started the initiative of at-home diagnostic services in more than 100 cities of India.
Key India In Vitro Diagnostics Company Insights
Some of the prominent key players operating in the India in vitro diagnostics market include F. Hoffmann-La Roche Ltd.; Abbott; BD, Transasia Bio-Medicals Ltd, and Thermo Fisher Scientific Inc,.
Market players are adopting various strategies, such as new product launches through Make in India, mergers & acquisitions, and partnerships, to enhance their product portfolios and provide diverse technologically advanced & innovative products.
Key India IVD Companies:
The following are the leading companies in the India in vitro diagnostics market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these India in vitro diagnostics companies are analyzed to map the supply network.
- Abbott
- BD
- F. Hoffmann-La Roche Ltd
- Transasia Bio-Medicals Ltd
- Thermo Fisher Scientific Inc,
- J Mitra & Co Pvt Ltd.
- Advatech Healthcare Pvt Ltd.
- Tulip Diagnostics PVT. Ltd.
- Transasia Bio-Medicals Ltd.
- Siemens Healthcare Pvt. Ltd.,
- Bio-Rad Laboratories India Pvt. Ltd
Recent Developments
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In June 2022, Genes2Me Pvt. Ltd introduced the CoviEasy Self-test Rapid Antigen kit for COVID-19, which is an AI-driven mobile app.In February 2022, Mylab Discovery Solutions came up with CoviSwift, a point-of-care (POC) testing solution that consists of the CoviSwift assay and Compact-Q machines. It performs a cycle of 16 samples within 40 minutes, four times faster than the typical RT-PCR testing procedure.
India In Vitro Diagnostics Market Report Scope
Report Attribute
Details
Market size value in 2024
USD 358.07 million
Revenue Forecast in 2030
USD 523.04 million
Growth rate
CAGR of 4.6% from 2024 to 2030
The base year for estimation
2023
Historical data
2018 - 2022
Forecast period
2024 - 2030
Quantitative units
Revenue in USD million/billion and CAGR from 2024 to 2030
Report Coverage
Revenue forecast, company ranking, competitive landscape, growth factors, trends
Segments Covered
Product, technology, application, end-user, test location
Regional scope
India
Country scope
India
Key companies profiled
Abbott; BD; F. Hoffmann-La Roche Ltd; Transasia Bio-Medicals Ltd; Thermo Fisher Scientific Inc,; J Mitra & Co Pvt Ltd.;Advantech Healthcare Pvt Ltd.; Tulip Diagnostics Pvt. Ltd.;Transasia Bio-Medicals Ltd.; Siemens Healthcare Pvt. Ltd.,Bio-Rad Laboratories India Pvt. Ltd
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
India In Vitro Diagnostics Market Report Segmentation
This report forecasts revenue growth country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the India In Vitro Diagnosticsmarket report based on product, technology, application, end-use, test location, and region.
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Product Outlook (Revenue, USD Million, 2018 - 2030)
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Instruments
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Reagents
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Software
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Technology Outlook (Revenue, USD Million, 2018 - 2030)
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Immunoassay
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Hematology
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Clinical Chemistry
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Molecular Diagnostics
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Coagulation
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Microbiology
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Others
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Application Outlook (Revenue, USD Million, 2018 - 2030)
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Infectious Diseases
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Diabetes
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Oncology
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Cardiology
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Nephrology
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Autoimmune Diseases
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Drug Testing
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Other applications
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End-use Outlook (Revenue, USD Million, 2018 - 2030)
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Hospitals
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Laboratories
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Home-care
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Others
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Test Location Outlook (Revenue, USD Million, 2018 - 2030)
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Point of Care
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Home-care
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Others
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Frequently Asked Questions About This Report
b. The India in vitro diagnostics market is estimated at USD 394.76 million in 2023 and is expected to reach USD 358.07 million in 2024.
b. The India in vitro diagnostics market is expected to grow at a CAGR of 4.6% from 2024 to 2030 to reach USD 523.04 million 2030.
b. Reagent held the largest share of 66.0% in 2023. The segment is expected to grow faster over the forecast period owing to the wide utility of IVD testing, escalating demand for self-testing & and point-of-care products, and increasing R&D activities.
b. Some of the prominent key players operating in the India in vitro diagnostics market include F. Hoffmann-La Roche Ltd.; Abbott; BD, Transasia Bio-Medicals Ltd, and Thermo Fisher Scientific Inc,
b. The presence of a robust network of laboratories and accelerating economic development is further leading to the rapid adoption of IVDs in India.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Product
1.2.2. Technology
1.2.3. Application
1.2.4. Test Location
1.2.5. End-use
1.2.6. Regional scope
1.2.7. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. GVR’s internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.4.5.1. Data for primary interviews in North America
1.4.5.2. Data for primary interviews in Europe
1.4.5.3. Data for primary interviews in Asia Pacific
1.4.5.4. Data for primary interviews in Latin America
1.4.5.5. Data for Primary interviews in MEA
1.5. Information or Data Analysis
1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Approach 1: Commodity flow approach
1.7.3. Volume price analysis (Model 2)
1.7.4. Approach 2: Volume price analysis
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product
2.2.2. Technology
2.2.3. Application
2.2.4. Test Location
2.2.5. End-use
2.3. Competitive Insights
Chapter 3. India In Vitro Diagnostics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1.1. Increasing Prevalence of In Vitro Diagnostics
3.2.1.1.2. Technological advancements in In Vitro Diagnostics
3.2.1.1.3. Surge to build patient registries for clinical trials and usage of the stored data for post-marketing surveillance
3.2.2. Market restraint analysis
3.2.2.1.1. Lack of reimbursement policies for In Vitro Diagnostics
3.3. India In Vitro Diagnostics Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1.1. Supplier power
3.3.1.1.2. Buyer power
3.3.1.2. Substitution threat
3.3.1.3. Threat of new entrant
3.3.1.4. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
Chapter 4. India In Vitro Diagnostics Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. India In Vitro Diagnostics, by Product: Market Movement Analysis
4.3. India In Vitro Diagnostics Market by Product Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Instruments
4.4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.4.2. Reagents
4.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.4.3. Software
4.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. India In Vitro Diagnostics Market: Technology Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. India In Vitro Diagnostics, by Technology: Market Movement Analysis
5.3. India In Vitro Diagnostics Market by Technology Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.4.1. Immunoassay
5.4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.4.2. Hematology
5.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.4.3. Clinical Chemistry
5.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million
5.4.4. Molecular diagnostics
5.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million
5.4.5. Coagulation
5.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million
5.4.6. Microbiology
5.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million
5.4.7. Others
5.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million
Chapter 6. India In Vitro Diagnostics Market: Test Location Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. India In Vitro Diagnostics, by Test Location: Movement Analysis
6.3. India In Vitro Diagnostics Market by Test Location Outlook
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.4.1. Point of Care
6.4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.2. Home Care
6.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.3. Others
6.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. India In Vitro Diagnostics Market: Application Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. India In Vitro Diagnostics, by Application: Movement Analysis
7.3. India In Vitro Diagnostics Market by Application Outlook
7.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
7.4.1. Infectious Diseases
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.2. Diabetology
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.3. Oncology
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.4. Cardiology
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.5. Nephrology
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.6. Autoimmune Diseases
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.7. Drug Testing
7.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4.8. Other Applications
7.4.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 8. India In Vitro Diagnostics Market: End-use Estimates & Trend Analysis
8.1. Segment Dashboard
8.2. India In Vitro Diagnostics, by End-use: Market Movement Analysis
8.3. India In Vitro Diagnostics Market by End-use Outlook
8.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
8.4.1. Hospitals
8.4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.2. Laboratories
8.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.3. Home-care
8.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.4. Others
8.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company/Competition Categorization
9.3. Vendor Landscape
9.3.1. List of key distributors and channel partners
9.3.2. Key customers
9.3.3. Key company market share analysis, 2023
9.4. Company Profiles
9.4.1. Abbott
9.4.1.1. Company overview
9.4.1.2. Financial performance
9.4.1.3. Product benchmarking
9.4.1.4. Strategic initiatives
9.4.2. BD.
9.4.2.1. Company overview
9.4.2.2. Financial performance
9.4.2.3. Product benchmarking
9.4.2.4. Strategic initiatives
9.4.3. F.Hoffmann-La Roche Ltd
9.4.3.1. Company overview
9.4.3.2. Financial performance
9.4.3.3. Product benchmarking
9.4.3.4. Strategic initiatives
9.4.4. Tranasia Bio-Madicals Ltd.
9.4.4.1. Company overview
9.4.4.2. Financial performance
9.4.4.3. Product benchmarking
9.4.4.4. Strategic initiatives
9.4.5. Thermo Fisher Scientific Inc.
9.4.5.1. Company overview
9.4.5.2. Financial performance
9.4.5.3. Product benchmarking
9.4.5.4. Strategic initiatives
9.4.6. J Mitra &Co Pvt Ltd
9.4.6.1. Company overview
9.4.6.2. Financial performance
9.4.6.3. Product benchmarking
9.4.6.4. Strategic initiatives
9.4.7. Advatech Healthcare
9.4.7.1. Company overview
9.4.7.2. Financial performance
9.4.7.3. Product benchmarking
9.4.7.4. Strategic initiatives
9.4.8. Tulip Diagnostics
9.4.8.1. Company overview
9.4.8.2. Financial performance
9.4.8.3. Product benchmarking
9.4.8.4. Strategic initiatives
9.4.9. Siemens Healthcare Pvt Ltd.,
9.4.9.1. Company overview
9.4.9.2. Financial performance
9.4.9.3. Product benchmarking
9.4.9.4. Strategic initiatives
9.4.10. Bio-Rad Laboratories
9.4.10.1. Company overview
9.4.10.2. Financial performance
9.4.10.3. Product benchmarking
9.4.10.4. Strategic initiatives
List of Tables
Table 1 List of abbreviations
Table 2 India In Vitro Diagnostics market, by product, 2018 - 2030 (USD Million)
Table 3 India In Vitro Diagnostics market, by technology, 2018 - 2030 (USD Million)
Table 4 India In Vitro Diagnostics market, by application, 2018 - 2030 (USD Million)
Table 5 India In Vitro Diagnostics market, by end-use type, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Primary interviews in India
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 In vitro diagnostics market: market outlook
Fig. 10 In vitro diagnostics competitive insights
Fig. 11 Parent market outlook
Fig. 12 Related/ancillary market outlook
Fig. 13 Penetration and growth prospect mapping
Fig. 14 Industry value chain analysis
Fig. 15 In vitro diagnostics market driver impact
Fig. 16 In vitro diagnostics market restraint impact
Fig. 17 In vitro diagnostics market strategic initiatives analysis
Fig. 18 In vitro diagnostics market: Product movement analysis
Fig. 19 In vitro diagnostics market: Product outlook and key takeaways
Fig. 20 Instruments market estimates and forecast, 2018 - 2030
Fig. 21 Reagents market estimates and forecast, 2018 - 2030
Fig. 22 Software market estimates and forecast, 2018 - 2030
Fig. 23 In vitro diagnostics market: technology movement analysis
Fig. 24 In vitro diagnostics market: technology outlook and key takeaways
Fig. 25 Immunoassay market estimates and forecasts, 2018 - 2030
Fig. 26 Hematology market estimates and forecasts,2018 - 2030
Fig. 27 Clinical chemistry market estimates and forecasts,2018 - 2030
Fig. 28 Molecular diagnostics market estimates and forecasts,2018 - 2030
Fig. 29 Coagulation market estimates and forecasts,2018 - 2030
Fig. 30 Microbiology market estimates and forecasts,2018 - 2030
Fig. 31 In vitro diagnostics market: application movement analysis
Fig. 32 In vitro diagnostics market: application outlook and key takeaways
Fig. 33 Infectious diseases market estimates and forecasts, 2018 - 2030
Fig. 34 Diabetes market estimates and forecasts,2018 - 2030
Fig. 35 Cardiology market estimates and forecasts,2018 - 2030
Fig. 36 Nephrology market estimates and forecasts,2018 - 2030
Fig. 37 Autoimmune diseases market estimates and forecasts,2018 - 2030
Fig. 38 Drug testing market estimates and forecasts,2018 - 2030
Fig. 39 Other applications market estimates and forecasts,2018 - 2030
Fig. 40 In vitro diagnostics market: end-use outlook and key takeaways
Fig. 41 Hospitals market estimates and forecast, 2018 - 2030
Fig. 42 Laboratories market estimates and forecast, 2018 - 2030
Fig. 43 Health care market estimates and forecast, 2018 - 2030
Fig. 44 Others market estimates and forecast, 2018 - 2030
Fig. 45 In vitro diagnostics market: test location movement analysis
Fig. 46 In vitro diagnostics market: test location outlook and key takeaways
Fig. 47 Point of care market estimates and forecast, 2018 - 2030
Fig. 48 Home care market estimates and forecast, 2018 - 2030
Fig. 49 Others market estimates and forecast, 2018 - 2030Market Segmentation
- India In Vitro Diagnostics, Product Outlook (Revenue, USD Million, 2023 - 2030)
- Instruments
- Reagents
- Software
- India In Vitro Diagnostics, Technology Outlook (Revenue, USD Million, 2023 - 2030)
- Immunoassay
- Hematology
- Clinical Chemistry
- Molecular Diagnostics
- Coagulation
- Microbiology
- Others
- India In Vitro Diagnostics Application Outlook (Revenue, USD Million, 2023 - 2030)
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Drug Testing
- Other applications
- India In Vitro Diagnostics, End-use Outlook (Revenue, USD Million, 2023 - 2030)
- Hospitals
- Laboratories
- Home-care
- Others
- India In Vitro Diagnostics, Test Location Outlook (Revenue, USD Million, 2023 - 2030)
- Point of Care
- Home-care
- Others
Report content
Qualitative Analysis
- Industry overview
- Industry trends
- Market drivers and restraints
- Market size
- Growth prospects
- Porter’s analysis
- PESTEL analysis
- Key market opportunities prioritized
- Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments
Quantitative Analysis
- Market size, estimates, and forecast from 2023 to 2030
- Market estimates and forecast for product segments up to 2030
- Regional market size and forecast for product segments up to 2030
- Market estimates and forecast for application segments up to 2030
- Regional market size and forecast for application segments up to 2030
- Company financial performance
Research Methodology
Grand View Research employs a comprehensive and iterative research methodology focused on minimizing deviance to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain, and to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
• Market drivers and restraints, along with their current and expected impact
• Raw material scenario and supply v/s price trends
• Regulatory scenario and expected developments
• Current capacity and expected capacity additions up to 2030We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
• Market-leading companies
• Raw material suppliers
• Product distributors
• BuyersThe key objectives of primary research are as follows:
• To validate our data in terms of accuracy and acceptability
• To gain an insight into the current market and future expectationsData Collection Matrix
Perspective
Primary research
Secondary research
Supply-side
- Manufacturers
- Technology distributors and wholesalers
- Company reports and publications
- Government publications
- Independent investigations
- Economic and demographic data
Demand-side
- End-user surveys
- Consumer surveys
- Mystery shopping
- Case studies
- Reference customers
Industry Analysis MatrixQualitative analysis
Quantitative analysis
- Industry landscape and trends
- Market dynamics and key issues
- Technology landscape
- Market opportunities
- Porter’s analysis and PESTEL analysis
- Competitive landscape and component benchmarking
- Policy and regulatory scenario
- Market revenue estimates and forecast up to 2030
- Market revenue estimates and forecasts up to 2030, by technology
- Market revenue estimates and forecasts up to 2030, by application
- Market revenue estimates and forecasts up to 2030, by type
- Market revenue estimates and forecasts up to 2030, by component
- Regional market revenue forecasts, by technology
- Regional market revenue forecasts, by application
- Regional market revenue forecasts, by type
- Regional market revenue forecasts, by component
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