India Rapid IVD Kits Market Research Report, Size, Share, Trends, Major Player, Competition, and Future Outlook: Ken Research

Overview:

Due to the low-cost treatments available in India, the Indian medical tourism industry ranks at 10th largest out of the top 46 countries in the world, with most of the people visiting major leading states Karnataka, New Delhi and Kerala for medical treatment every year.

The India Rapid IVD Kits Market has seen a comprehensive and a significant growth over the last few years owing to rising geriatric population and the subsequent growth in the prevalence of chronic and infectious diseases along with Covid-19 pandemic crisis. Rapid IVD kits market has been one of the markets that is positively affected due to COVID-19 related crisis across the globe including in India, indicating their crucial role in diagnostic industry.

High prevalence of chronic diseases, increasing use of point-of-care (POC) diagnostics, and growing aging population is driving Rapid IVD Kits Market in India

Both the Rapid IVD Kits Market (Excluding Covid-19 Tests) and Covid-19 Rapid Antigen Test Market are segmented on the basis of total number of test kits supplied with a positive growth rate of CAGR of 24.4% and 144.3% respectively over the period FY’2017-FY2022.

India Rapid IVD Kits Segmentations

By Types of Tests:

Covid-19 Rapid Antigen Tests dominated the Rapid IVD Kits Market (Ex. Covid-19 Tests)

By Type of Test:

In House Cassettes contributed majority percentage share in terms of total number of rapid IVD tests supplied in comparison to Dipstick tests in India.

By Type of Application:

Parasitological tests kits dominated the other tests by application in this segment due to the high parasitology disease prevalence across the country.

India Rapid IVD Kits Market Overview and Segmentations

The Rapid IVD Kits Market (Ex. Covid-19 Tests) is witnessing a steady growth for past few years. The growth of the market is majorly driven due to rise in incidences of chronic and infectious diseases.

By Type of Parasitology Disease Tests:

Malaria rapid test kits contributed major chuck of share to this segment in terms of total number of parasitology disease test kits supplied.

By Type of Fertility Marker Tests:

Majority of the segment is dominated by Pregnancy-HCG Tests in comparison to LH and FSH rapid fertility tests.

By Type of Cardiac Marker Tests:

Troponin 1 cardiac marker Test kits contributed majority percentage share in terms of total number of rapid tests supplied in comparison to Myoglobin cardiac marker tests owing to their high standards and sensitivity.

By Type of Infectious Disease Tests:

HIV and HCV rapid test kits contributed major share to this segment in terms of total number of infectious disease test kits supplied.

By Type of Enteric Disease Tests:

Cholera and Typhoid rapid test kits contributed major share to this segment in terms of total number of enteric disease test kits supplied.

By Type of Procurement:

Majority of the rapid IVD test kits are domestically manufactured whereas sourcing of raw materials is done via procurement from foreign countries to India.

By Mode of Selling:

Distributor Mediates mode of selling rapid IVD testing kits dominated direct sales-mode of selling as majority of end users are hospitals and other institutions.

By Type of End Users:

Public Health Corporations contributed majority of share in this segment in in comparison to other end users in terms of total number of rapid IVD test kits supplied.

By Region:

South Indian region dominated with the greatest number of rapid IVD test kits supplied.

India Covid-19 Rapid Antigen Test Market Overview and Segmentations

The Covid-19 Rapid Antigen Market witnessed a massive growth owing to the pandemic crisis. The growth of the market is majorly driven due to rise in Covid-19 infection, evolution of the virus into newer variants and high demand for low-cost rapid antigen testing kits for large-scale testing.

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By Type of Procurement:

Majority of the Covid-19 RAT test kits are domestically manufactured whereas sourcing of raw materials is done via procurement from foreign countries to India.

By Mode of Selling:

Distributor Mediates mode of selling Covid-19 RAT test kits dominated direct sales-mode of selling as majority of end users are hospitals and other institutions.

By Type of End Users:

Public Health Corporations contributed majority of share in this segment in in comparison to other end users in terms of total number of Covid-19 RAT test kits sold.

By Region:

South Indian region dominated the rest in terms of total number of Covid-19 RAT test kits sold.

Competition Landscape in India Rapid IVD Kits Market

The competition in Rapid IVD Kits market was observed to be highly fragmented in India. SD Biosensor is the market leader owing to the high sales volume of rapid IVD test kits; followed J. Mitra & Co and Meril Diagnostic as the major local manufacturers in the market. The India Rapid IVD Kits Market also includes other major manufacturers such as Oscar Medicare, Abbott, Mankind Pharma, Angstrom Biotech, Mylab Discovery Solutions and more. Manufacturers are more focused on automated instruments due to their high efficiency, versatility and robust application while reducing batch testing and hands on time to perform quick runs against non-automated tools.

Manufactures in Rapid IVD Kits market is competing based on Product Range, Product Capacity, Distribution Channel, Sourcing of Raw Material and End Users.

India Rapid IVD Kits Market Future Outlook and Projections

Due to the increasing burden of diseases, rapid IVD manufacturers are continuously involved in developing new testing devices with technology adoptions. Furthermore, hospitals and laboratories have demonstrated a rising preference towards point-of-care testing data. These factors are likely to increase the demand for rapid testing and POC devices, ultimately increasing the demand for IVD industry in India.

Over the near term, Rapid IVD Kits market is expected to grow at a negative CAGR of

-21.3% over the period FY’2022-FY2027F due to decline in Covid-19 testing with increasing vaccination drives across the country that will limit the Covid-19 Rapid Antigen market expansion over the coming years. Though, the Rapid IVD Kits Market (Ex. Covid-19) is expected to grow at a positive CAGR of 19.9% over the forecasted period FY’2022 to FY’2027F owing to future technological innovations and advancements in rapid diagnoses, rising laboratory automation and availability of well-equipped systems, along with emergence of various infectious diseases and government initiatives to support the technological advancements of diagnostic centers across the country.

For more information on the research report, refer to below link:

Competition Scenario of India Rapid IVD Kits Market

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