India Immunoassay Market to Grow at a Significant Rate During the Forecast Period
Growing onset of chronic and
infectious diseases is expected to drive the growth of India immunoassay market
during the forecast period.
According
to TechSci Research report, “India Immunoassay Market By Product (Reagents
and Kits, Analyzers/Instruments, Software and Services), By Technology
(Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoro Immnoassay (FIA),
Chemiluminescence Immunoassay (CLIA), Rapid Test, Others), By Indication
(Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious
Diseases, Autoimmune Diseases, Others), By End User (Hospitals, Blood Banks,
Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers,
Others), By Company, By Region, Forecast & Opportunities, FY2026”, the India immunoassay market is expected to grow at a significant
rate during the forecast period on account of rise in geriatric population. Rising
patient awareness pertaining to immunoassay-based point-of-care testing is
bolstering the demand for product. In addition to this, certain benefits offered
by immunoassays such as technological advancements and sensitivity, cost
effectiveness and rapid analysis is further expected to fuel the market growth
through FY2026. Also, rising trend of patent expiry is estimated to drive the
demand for such drugs. However, low detection limit of immunoassays can
restrict the market growth over the next few years. Moreover, unfavorable
reimbursement scenario can further hinder the market growth during the forecast
period.
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The India immunoassay market is segmented based on product, technology,
indication, end user, company, and region. Based on indication, the market can
be fragmented into radioimmunoassay (RIA), enzyme immunoassays (EIA), fluoro
immunoassay (FIA), chemiluminescence immunoassay (CLIA), rapid test, others.
The enzyme immunoassays segment is expected to dominate the market in the
forthcoming years on account of increased popularity of enzyme-linked
immunosorbent assays for detecting food allergies, West Nile virus infection
and various other diseases, including AIDS, influenza, Lyme ailments, among
others. Also, rapid test technology segment is projected to witness fastest
growing CAGR in the years to come on account of its application in a wide range
of ailments, such as dengue and infections. Based on indication, the market can
be categorized into therapeutic drug monitoring, oncology, cardiology,
endocrinology, infectious diseases, autoimmune diseases, others. The infectious
diseases segment dominated the market until FY2020 owing to mounting prevalence
of infectious diseases, such as tuberculosis, Lyme disease, salmonella
infections in the country. Also, oncology segment is expected to register high
growth during the forecast period, which is attributable to rise in number of
cancer cases.
Roche Diagnostics India Pvt Ltd., Abbott
India Limited, bioMérieux India Limited, Becton Dickinson Private Limited, Bio-Rad
laboratories India Pvt. Ltd, Thermo Fisher Scientific India Pvt. Ltd., Danaher
Holding India Pvt. Ltd., Siemens Healthineers India Pvt. Ltd., Randox
Laboratories (India) Private Limited, and Sysmex India Pvt. Ltd, are some of
the leading companies operating in the immunoassay market of India. Companies
operating I the space are investing in research and development to maintain
their dominance in the market.
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“India Immunoassay market is expected to
witness steady growth during the forecast period which is attributable ongoing technological
advancements in testing products. Additionally, major market players are
focusing on strategic collaborations to commercialize their newly developed immunoassay
products. This is further expected to create lucrative opportunities for the
market growth of India immunoassay market over the next five years.” said
Mr. Karan Chechi,
Research Director with TechSci Research, a research based global
management consulting firm.
“India Immunoassay Market By Product (Reagents and
Kits, Analyzers/Instruments, Software and Services), By Technology
(Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoro Immnoassay (FIA),
Chemiluminescence Immunoassay (CLIA), Rapid Test, Others), By Indication
(Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious
Diseases, Autoimmune Diseases, Others), By End User (Hospitals, Blood Banks,
Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers,
Others), By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India immunoassay
market and provides statistics and information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India Immunoassay market.
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