Release Date: 29-May-2013
Indian IVD market is being led by players who are actively engaged in importing products either in finished form or as Original Equipment Manufacturer (OEM) and market them under their own brand name. Market leaders usually offer competitive prices and innovative technologies which have been in use in the developed countries and have been absorbed on a gross scale. Since there is lack of local capacity as well as technical knowhow to manufacture such innovative products in India, majority of the products that are in circulation have been are time tested in advanced countries.
Expansion, however, is on the forge and major diagnostic players are spreading wings all over the globe and in various therapeutic sectors like genetics, cancer, endocrinology, infectious diseases, and molecular diagnostics. Innovative yet viable business models are being devised to ensure penetration not only in tier-I, but also to tier-II and tier-III cities. The past decade has seen rising patient awareness especially in tier-I and tier-II cities who have found out the benefits of frequent check-ups and preventive healthcare. Moreover as urbanization has created an erratic lifestyle and shifting demographics, healthcare is on top of everyone’s list.
For more information visit: “Indian In Vitro Diagnostics Market Opportunity Analysis 2018”