Wednesday, 29 May 2019

India POCT Market Outlook to 2023

The report titled “India POCT Market Outlook to 2023 - By Major Devices (Blood Glucose Testing Kits, Infectious Disease Testing Kits, Blood Gas Electrolytes, Pregnancy, and Fertility Testing Kits, Cardio Metabolic Monitoring, Anticoagulant Management, Cholesterol Testing Kits and Others), By End Users (Hospitals & Clinics, Consumers/ Individuals, Diagnostic Labs, Home Healthcare and Others), By Distribution Channel (Distributors and Direct Sales), By Consumables and Instruments and By Region” provides a comprehensive analysis of the Point of Care Testing Market of India. The report covers various aspects including market overview and evolution, Indian Health Statistics, Trade Scenario, trends and developments, issues and challenges, Porter’s five force analyses, customer decision parameters, funding, and M&A scenario in the industry, competitive landscape and government regulations. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.
Market Overview
India POCT market is at the growing stage. India POCT market in terms of revenue has increased at a positive CAGR during the period FY’2013-FY’2018. This growth was supported by advancement in medical knowledge and R&D along with an increase in the prevalence of chronic diseases amongst the Indian population in recent years. The customers in the market are becoming more aware of their health with time which has further boosted the demand for POCT devices in the country.
There has been intense competition between the players in the India POCT market as more number of MNC’s is setting up their units in India owing to the allowance of 100% FDI in the country. The domestic production of POCT devices has been relatively low as compared to other countries. The POCT devices have led to a faster pace for treatment coupled with a reduction in the overall health checkup expenditure.
India POCT Market Segmentation
By Major Devices: Blood Glucose Testing kits accounted for the highest share for the FY’2018. This testing kit is a device used on a routine basis to monitor glucose levels for people at home or for patients under permanent glycemic control requirements. Increase in the rate for infectious and communicable diseases in the country have also generated the need for Infectious diseases testing kits, which stand second to the blood glucose testing kits. On the other hand, the third largest share was accounted for by blood gas electrolytes kits which further followed by pregnancy & fertility testing kits, cardiometabolic monitoring kit, anticoagulant management kit, and others.
By End Users: The hospitals and clinics accounted for the highest market share in India POCT market in FY’2018 amongst the considered end users owing to the lack of diagnostic labs and central laboratories along with the cost and time involved in conducting different tests through diagnostic laboratories. The individuals usually use POCT devices for Blood glucose testing, pregnancy testing, and HIV self-testing as these devices are simple to use and are handy due to which consumer/individuals accounted for the second highest market share in the end user a segment which is further followed by the diagnostic labs, home healthcare and others.
By Consumables and Instruments: In India POCT market consumables accounted for the majority of the market share in FY’2018. This is largely due to HbA1c, Pregnancy, Cholesterol, and Drug of Abuse POCT devices utilize consumables on large scale for diagnostics. On the other hand, Instruments although comprising of much costlier components captured a smaller market share in FY’2018 due to longer replacement/repurchase cycle.
By Distribution Channel: The sale of POCT devices through distributors plays a key role in the overall POCT a market in India constituting a maximum market share in FY’2018. The distributors accounted for a double-digit margin on the sale of these devices. On the other hand, direct sales in case of POCT devices is minimal as compared to the sales through distributors as a majority of the POCT companies do not contact them clients directly and rather prefer using a medium to sell their products owing to the high cost involved.
By Region: It has been observed that amongst the considered cities, sale of POCT devices is the highest in Delhi followed by Chennai in FY’2018 as these are the hub for medical care. Also, the people residing in these cities have a higher personal disposable income as compared to other cities. Lack of awareness and acceptance by the people in Tier 2 and Tier 3 cities justifies its lower market share in FY’2018.
Competitive Landscape
The India POCT market is moderately concentrated. In FY’2018, it has been observed that there are more than 60 players which are operating in the India POCT market, out which Abbott India has the highest market share on the basis of revenue in FY’2018. This was followed by Roche Diagnostics, Danaher Corporation, J Mitra & co., Trans Asia Biomedical and others. These market players compete in the POCT market in India on the basis of Cost, Expertise, Brand, Ease of Use, and Key Products Offered.
India POCT Market Future Outlook
In the future, it has been anticipated that India POCT market will increase at a double digit CAGR during the period of FY’2018– FY’2023E in terms of revenue. India POCT market is expected to grow at an enormous rate owing to factors such as compactness, portability and its usage by the non-laboratory personnel in the purview of getting faster results. Increasing demand for POCT devices in the country largely from the elderly population which is one of the major targets end users for the home healthcare companies and overall POCT market in general. Launch of various new products in different product genre is anticipated to expand the target audience. In addition to this, India has been a country with one of the highest diabetes prevalence rates in the world. This will lead to an opportunity for POCT companies to provide efficient solutions for the problem.
Key Segments Covered:-
By Major Devices
Blood Glucose Testing Kits
Infectious Disease Testing Kits
Blood Gas Electrolytes
Pregnancy and Fertility Testing Kits
Cardio Metabolic Monitoring
Anticoagulant Management
Cholesterol Testing Kits
By End Users
Hospitals & Clinics
Consumers/ Individuals
Diagnostic Labs
Home Healthcare
By Distribution Channel
Direct Sales
By Region
Tier 1 Cities
Tier 2 Cities
Tier 3 Cities
By Consumables and Instruments
Key Target Audience
Point of Care Companies
Hospitals & clinics
Government organizations
Medical Devices and Equipments companies
Home Healthcare Companies
Time Period Captured in the Report:-
Historical Period: FY’2013-FY’2018
Forecast Period: FY’2018-FY’2023
Companies Covered:-
Abbott India Limited
Roche Diagnostics
Siemens Healthcare Private Limited
Beckman Coulter India Pvt. Ltd.
J Mitra & Co. Pvt. Ltd.
Trans Asia Biomedical
Radiometer India
Bio Rad Laboratories
DiaSys India
EKF Diagnostics
Renesas Electronics
Triviton Healthcare Private Limited
Becton Dickinson India Private Limited
India Medtronic Private Limited
Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Value Chain Analysis of India POCT Market
Indian National Health Account Statistics
Market Overview and Genesis of India POCT Market
India POCT Market Size for the FY’2013- FY’2018
India POCT Market Segmentation by Major Devices (Blood Glucose Testing Kits, Infectious Disease Testing Kits, Blood Gas Electrolytes, Pregnancy and Fertility Testing Kits, Cardio Metabolic Monitoring, Anticoagulant Management, Cholesterol Testing Kits and Others)
India POCT Market Segmentation By End Users (Hospitals & Clinics, Consumers/ Individuals, Diagnostic Labs, Home Healthcare and Others)
India POCT Market Segmentation By Consumables and Instruments
India POCT Market Segmentation By Distribution Channel (Distributors and Direct Sales)
India POCT Market segmentation By Region (Tier 1, Tier 2 and Tier 3 Cities)
Government Regulations in the India POCT Market
Porter’s Five Force Analysis for India POCT Market
Competition Parameters in India POCT Market
Company Profiles of Major Players in the India POCT Market
Strength and Weaknesses of Major Players in the India POCT Market
Funding and M&A Scenario in the India POCT Market
Trade Scenario in the India POCT Market
Trends and Developments in the India POCT Market
Issues and Challenges in the India POCT Market
Upcoming Technologies in the India POCT Market
Customer Decision Parameters in the India POCT Market
India POCT Market Size- Future Outlook and Projections for the FY’2018- FY’2023E
Analysts Recommendations for the India POCT Market
For More Information, Refer To Below Link:-
Related Reports by Ken Research:-

No comments:

Post a comment