India POCT Market is forecasted to grow further into ~11,000 Crore opportunity by 2027F: Ken Research

Posted January 9, 2023 by kenresearchcompany

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.
The increasing prevalence of chronic diseases and the rising awareness about their early diagnosis are some of the major factors contributing to the development of Point of Care Testing in India.

The POCT market in India has grown consistently: The Indian POCT market was basically untapped in early 2000s. The medical community had very little knowledge of POCTs and did not fully comprehend the technology. Due to the price, access to these products was similarly restricted until 2018. Additionally, there was no legislative structure in place to encourage the adoption of POCTs in India. Since 2018, the POCT market in India has grown consistently. The need for remote patient monitoring and home healthcare equipment also contributed to the market's expansion.

Growing Awareness of the Benefits of POCT: Due to COVID-19, sales of point-of-care devices spiked in the fiscal years 2020–21. The POCT market in India is expanding as a result of rising knowledge of the benefits of POCT, including its affordability, accuracy, and convenience, as well as rising rates of infectious illnesses. There is a need for testing that is affordable, accessible, and efficient because of India's extremely dense rural population and the absence of high-end, automated, and expensive diagnostic technologies. The demand for POCT technologies has also expanded as a result of India's expanding healthcare infrastructure. As a result, POCT technologies are now more widely used in the healthcare industry.

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Regulatory Bodies and Essential Principles: The National Regulatory Authority (NRA), an agency of the Indian government, is in charge of setting standards, approving the manufacture and import of medical equipment as well as the conduct of clinical studies. Taking into account their training and skills, users should be given the information necessary to locate the maker, use the item safely, and guarantee the desired performance. This has resulted in higher user knowledge and more targeted government regulation for the POCT market, which have enabled the development of the relevant market.

Regulatory Challenges and Lacks in Infrastructure Capability: Some of the constraints limiting the growth of the Indian POCT market are strict government regulations and the expensive cost of POCT devices. Another barrier impeding the market's expansion is a lack of staff with the necessary training to operate POCT devices. Additionally, the restricted availability of POCT in rural areas is a significant obstacle, but the market for POCT in India is anticipated to rise as a result of POCT's growing acceptance in underserved and distant areas and the rising need for home healthcare solutions.

Analysts at Ken Research in their latest publication “India Point of Care Testing Devices Market Outlook to 2027F- Driven by the increasing incidence of chronic diseases, rising awareness of rapid diagnosis in India” observed that the India POCT Market is in a growing phase. Increasing awareness of the advantages of POCT, increasing use of smartphones and telemedicine, and growing healthcare infrastructure are some of the factors that will contribute to the India POCT Market over the period of 2022-2027F. It is expected that India’s POCT Market will grow at a CAGR of 17.3% for the above-forecasted period.  

Key Segments Covered in the report

India POCT Market

Based on Devices
Blood Glucose Testing Kits
Cardio metabolic Monitoring
Infectious Disease Testing Kits
Blood Gas Electrolytes
Hormonal Testing Kits
Pregnancy Testing Kits
Coagulation Test
Others (Urinalysis Testing Kits, Hematology Testing Kits, Drugs Of Abuse Testing Kits, Fecal Occult Testing Kits, Lipids, Tumor/Cancer Markers etc.)

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Based on end-user
Diagnostic labs
Home Healthcare
By Type of Device
Consumables (cartridges, test strips etc.)
Instruments (Main Device)
By Mode of production
Domestic Production
By Region of Sales
By Distribution Channel
Through Distributors to end users
Through Distributors to retailers

Key Target Audience

Point of Care Companies
Hospitals & Clinics
Government organizations
Medical Devices and Equipment companies
Home Healthcare Companies

Time Period Captured in the Report:

Historical Period: 2017-2022
Base Period: 2022
Forecast Period: 2022-2027F

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Companies Covered:

Abbott India Limited
Roche Diagnostics
Siemens Healthcare Private Limited
SD Biosensors
Beckman Coulter India Pvt. Ltd.
J Mitra & Co. Pvt. Ltd.
Trans Asia Biomedical
Bio Rad Laboratories
DiaSys India
EKF Diagnostic
Triviton Healthcare Private Limited
Becton Dickinson India Private Limited
India Medtronic Private Limited

Key Topics Covered in the Report

Healthcare Industry Overview in India
Market Overview and Genesis of India POCT Market
The ecosystem of India POCT devices Market
Business Cycle and Value Chain Analysis of India POCT Market
Timeline of Major Players in India POCT Market
Market Sizing of India POCT Market, FY’2017-FY’2022
Market Segmentation of India POCT Market
Growth drivers of India POCT Market
Issues and Challenges in India POCT Market
Regulatory Framework of India POCT Market
Trends and Developments in India POCT Market
End User Analysis of India POCT Market
Competition Framework of India POCT Market
Future Outlook and Projections of India POCT Market, 2027F
Market Opportunity and Analyst Recommendations                

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Last Updated January 9, 2023