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.

The 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 evolving market.

"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 diagnostic tests."

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.

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