India POCT Market Outlook to 2027F

India POCT Market Outlook to 2027F

The report provides a comprehensive analysis of the potential of the POCT industry in India. The report covers an overview and genesis of the industry, of the market size in terms of market revenue.

Its market segmentations include By Type of Device, By Mode of Production, By Region of Sales, By Distribution Channel, By Consumables and Instruments, and By End Users; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the India POCT Market – which grew from approximately ₹ ~2000 Crore in 2017 to approximately ₹ ~5000 Crore in 2022 – is forecasted to grow further into ₹ ~11,000 Crore opportunity by 2027F, owing to the increasing demand for rapid and accurate diagnosis, rising awareness, and increasing government initiatives in India.

China is the biggest exporter with a 22% contribution to the import of medical Instruments and consumables followed by the USA and Germany with 18% and 10% respectively.

The infectious disease testing kit segment recorded a boost in the demand during the Covid -19 owing to the need to identify and isolate the infected person.

Key Trends by Market Segment:

By Type of Device: Due to their cost-effectiveness, portability, and ease of use, consumable POCT devices dominate the India POCT market.Rise of telemedicine and the growing demand for medical information and services in rural areas is also a major factor.

By Region: People residing in tier 1 and tier 2 cities have a higher personal disposable income as compared to other cities. Furthermore, the people in tier 1 cities are more aware of POCT devices and have easy access to them.

Competitive Landscape

Future Outlook

The India POCT Market witnessed significant growth during the period 2017-2022, owing to the increasing use of smartphones and telemedicine, increasing awareness of the advantages of POCT. The increasing prevalence of chronic diseases and the rising awareness about their early diagnosis will impact the POCT market.

The growth rate of total POCT devices made is going to increase over the period as there will be rising investments in healthcare infrastructure. Technological advancements will drive market growth in the coming years. The demand for personalized medicine is also rising, as it allows for more accurate diagnosis and treatment of diseases, increasing demand for personal health monitoring, and the rising adoption of home-based POCT will also help this industry grow. The introduction of government initiatives to promote POCT is also expected to drive the growth of the market and rising investments in healthcare infrastructure.

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