Indian in vitro diagnostics market surpasses $250 Million in 2006
4 January 2006
A new study from Kalorama Information, Clinical Diagnostics in India,
estimates in vitro diagnostics (IVD) revenues topped $250 million in 2006.
The report describes the high growth IVD industry which has been averaging
annual growth rates between 15% and 20%.
Due to favourable market factors,
including new private insurance programs, a continuously expanding number of
laboratories, and a healthy economy, the market is expected to continue to
maintain its double-digit growth rates over the next three years.
lion's share of the market comes from the routine chemistry segment which
makes up 42% of the revenues. Immunochemistry diagnostics follow closely
behind with a 32% market share. Availability of new tests and increased
screening resulting from a greater understanding of lifestyle-related
diseases are helping to increase revenues and drive new trends in this
"Two interesting trends have already emerged which should
be key to continued market growth," notes Steven Heffner, the publisher of
Kalorama Information. "Large manufacturers are asserting more control over
their distribution with several important international manufacturers
setting up shop in India, and the appearance of Chinese products in the
market is just beginning and will provide increased availability of
Authored by Seattle-based research team McEvoy &
Farmer, the report provides essential historical perspectives from their 10+
years of on-the-ground primary research in the Asian IVD marketplace. Their
comprehensive analysis examines India's market for IVD tests in the
following market sectors: routine chemistry, critical care chemistry,
hematology, urinalysis, coagulation, immunochemistry, and molecular testing.