“Rapid Technological Innovations in Medical Devices coupled with Cost Reduction in health Checkups and Quick Diagnosis has driven the POCT Market in India”
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” by Ken Research suggested that the POCT market in India has been growing due to the advancements in medical knowledge and rising R&D in this sector. Moreover, growing awareness and acceptability of POCT devices by individuals and hospitals have also led to the expansion in the market. The market is expected to register a positive CAGR of 11.9% in terms of revenue during the forecast period FY’2018-FY’2023E.
Increasing Number of POCT Companies: Number of companies has started venturing in India POCT market and with a vast scope of innovation and expansion; these new companies have been expanding their product lines into POCT device manufacturing. It has been observed that in FY’2018, over 40% of the companies have started producing these POCT devices domestically including companies such as Alere Medical, Trans Asia Medical, Siemens Healthineers, Trivitron Healthcare, J. Mitra & Co. Pvt. Ltd., UE Life science and others. However the majority of the POCT devices in India are still imported from countries such as the USA, China and Europe owing to better technology and the presence of manufacturing units of global companies.
Automation, miniaturization and diversification of Devices: Devices such as G-5 mobile continuous Glucose Monitoring System (approved by FDA) and Guardian Connect have started being used for monitoring the sugar level through a mobile application for smartphones in 2018, making it convenient for people to access the device through their mobile phones without a separate hardware monitor. The increasing usage of self-tracking devices such as wearable wristbands linked to cloud storage, sleep monitors, blood pressure cuffs and finger stick blood tests has started amongst a certain section of the Indian population which has further boosted the demand for POCT devices in India.
Improved and Combined Network for Data Management and Processing: The POCT devices have started being connected to separate data management systems so that there is centralized control over the data and it is easily accessible at all points of time through a web-based platform. Companies such as Seimens Healthineers, Hemocue, and Abott have connected POCT devices to their data management systems which have to lead to better monitoring of the patient's health by storing the results in a graphical or table format. In addition to this, POCT devices are being monitored and managed through the Laboratory Information System (LIS) and other networks.
Key Segments Covered:-
By Major Devices
Blood Glucose Testing Kits
Infectious Disease Testing Kits
Blood Gas Electrolytes
Pregnancy and Fertility Testing Kits
CardioMetabolic Monitoring
Anticoagulant Management
Cholesterol Testing Kits
Others
By End Users
Hospitals & Clinics
Consumers/ Individuals
Diagnostic Labs
Home Healthcare
Others
By Distribution Channel
Distributors
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 Equipment 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
Keywords:-
AYUSH Registered Doctors India
Point of Care Testing Market India
Point of Care Testing Market in India
India Point of Care Testing Market Size
Point of Care Testing in India
India Rapid Diagnostic Testing
India POCT Devices Import
India POCT Devices Export
Pregnancy and Fertility Testing Kits India POCT
Pregnancy Test Kits Market India
Blood Glucose Monitoring System Market
Number of Diabetes Patients India
Diabetes Prevalence Rate India
Immunoassay Analyzers India
POCT Industry in India
POCT Market in India
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
